Even with the big players getting into the mix, Johndorf Ventures Corp. believes its newest residential project Astana Subdivision shows the company continues to have an edge in the economic housing segment.
The Johndorf Communities in Barangays Babag II and Kalawisan in Lapu-Lapu City covers about 20 hectares and will comprise four residential developments when completed, said sales and marketing manager Michele Chiu-Bacungan. It’s the company’s first township in the Visayas and Mindanao.
She added that Hanniyah Homes, the first housing project, is sold out while about a hundred of the total 413 units in Astana, the second development, are still available.
According to her, the high-grade materials and exacting construction method ensure that buyers are getting quality houses.
“Ours is not the typical pre-cast construction. We invested in our own formworks for a cast in place system. This makes the house faster to build, stronger, and more durable,” Chiu-Bacungan explained.
An Astana townhouse has floor area of 52 square meters and lot area of 72 square meters. Its current contract price is P1.35 million. Buyers pay off the 20 percent downpayment in equal installments for 36 months without interest.
The big space shortly before the subdivision’s entrance gate will be developed for commercial purposes, said Lucille D. Parcon, Johndorf finance and admin manager for the Visayas and Mindanao.
She added that Johndorf will be leasing out the commercial spaces to establishments that can province a service to residents and add value to the community. These can include laundry shops or convenience stores.
In Astana and their other housing projects, Chiu-Bacungan said they build the units ahead and do not base the construction on sales take-up. This allows them to be more flexible when it comes to allowing buyers to move in even if they haven’t completed paying off the three-year downpayment.
Chiu-Bacungan estimates the Astana development to be completed by 2016. She said they’re set to launch Navona, the third subdivision component of the Johndorf Communities in Kalawisan, soon.
Johndorf property plans
Since it is where its strength lies, Johndorf will continue to focus on developing economic housing projects. Chiu-Bacungan said they also look at studies showing the backlog in housing units for the low-income to middle-income class.
Parcon, meanwhile, said the company is very aggressive in acquiring lands within Cebu, and it has a total of 25 hectares in Mactan alone.
Besides Mactan, Chiu-Bacungan said Johndorf plans to develop housing projects in Carcar and Consolacion. It is set to launch the Carcar project by the fourth quarter of 2015.
In 2012, when the company started standardizing its system, it also started initiating market studies. Chiu-Bacungan said the studies allow them harmonize development plans with the needs of the housing sector.
Johndorf Ventures, according to her, is very strong with the housing fund Pag-ibig. In terms of housing loan take-out, Johndorf is second top developer in the Visayas.