With two towers of the residential resort community Tambuli Seaside Living almost completed, property developer Tytans Properties Development, Inc. is on its way to building the third condominium building in the 11-hectare property.
Tytans Properties president Gerard Tan and chairman Montano Ty led the recent topping off of Towers A and B and groundbreaking for Tower C of the multi-billion project.
Tan said they plan to turn over units in Towers A and B to homeowners by batch, starting in the next few months and fully handing over the total 256 units by the second quarter of 2017.
The company will be constructing 11 towers in two phases, amenities that will include a huge 7,000-square meter clubhouse and a winding lagoon pool spanning 2,000 square meters, as well as a commercial strip by the seaside that will host restaurants and some shops, added Ty.
According to Tan, Tytans Properties decided to introduce the condotel concept for Tambuli Seaside Living after a survey of homeowners showed that 80 percent were interested in leasing out their units.
Majority or about 75 to 80 percent of unit buyers are locals but they are mostly Filipinos working in Hong Kong, Singapore, Japan and other countries.
Many of those interested in the condotel program are those who are not in the country and bought units mainly for investment purposes, added Tan. The concept makes sense in Mactan where the occupancy rate is very high all year round.
He said Phase 1 of Tambuli Seaside Living involves six towers and a total of 1,200 units and the target is to have 70 percent or more allocated for long-term leasing. All units in Towers A and B are sold out while 93 percent in Tower C, 88 percent in Tower D, and 70 percent in Tower F have been sold off.
Tambuli Seaside Living resort theme
Ty said the main requirement for the resort-themed project, which was launched in 2014, was for the 1,000 plus trees within the area to be left alone.
To make this possible, the development had to be designed in such a way that the structures will make way for the 30 to 40 species variety inside the property, according to project architect Alex Medalla.
This is why the clubhouse will have some trees inside and the lagoon pool go around a cluster or two.
Tytans Properties will be promoting the sixth tower in Phase 1 from August 13-14, 2016. The second phase of Tambuli Seaside Living will involve five towers.