In line with its real estate development thrust in 2015, the Cebu People’s Multi-Purpose Cooperative (CPMPC) is focusing its efforts on the Blessed Sacrament Subdivision in Lapu-Lapu City and other property projects in Cebu.
CPMPC is building townhouses in Basak Kagudoy, Lapu-Lapu City priced at a relatively affordable P1.598 million per unit, said Richard Azares of the coop’s project management office.
The two-storey, two-bedroom house has a floor area of 51 square meters and lot area of 40 square meters.
Units at Blessed Sacrament Subdivision come with a single bathroom but homeowners have the option of adding one more, he added, citing that solar panels are another property add-on.
The solar panels, according to him, are capable of generating power of up to a maximum of one kilowatt.
Since the house comes with very basic power generation equipment, owners can opt to add solar panels or even invest in a battery so they can use the electricity at night, Azares pointed out.
“We are currently negotiating an agreement with MECO (Mactan Electric Co.) for a net metering system,” he stressed, explaining this is when the excess power generated by the solar panels goes to the MECO grid and gets deducted from the homeowner’s electric bill.
The whole Blessed Sacrament Subdivision measures 1.57 hectares and will be composed of 158 townhouses and 51 rowhouses as its socialized housing component. All the rowhouses and 20 percent of the townhouses had been sold off, according to Azares.
“The Blessed Sacrament Subdivision has the components of a very good project in terms of location and pricing, which is very competitive,” he said, noting that it is just a few minutes away from Mactan Doctors’ Hospital and the Mactan-Mandaue Bridge.
Another advantage the subdivision has over similar economic housing developments is the easy payment terms offered through in-house financing. The CPMPC only asks for 10 percent downpayment spread out up to a maximum of 36 months, Azares cited, adding buyers may also avail of a unit through bank or Pag-ibig financing.
He credits CPMPC chief executive officer (CEO) Macario G. Quevedo as the force behind the coop’s foray into real estate development.
“This is really his (Quevedo’s) vision,” Azares said.
The coop has started planning a 3-hectare socialized housing project in the Cebu town of Dumanjug, where the intended buyers are mostly schoolteachers. Other projects in the pipeline for CPMPC include a mid-end subdivision development in Basak Sudtunggan, Lapu-Lapu City and a memorial park in Minglanilla, Cebu.