Developer launches condo, housing project in Mandaue
AS the number of overseas Filipino workers (OFWs) increase, another real estate developer launched a project targeted at the market segment composed of OFWs and their families.
Jarsons Development Corp. (JDC) launched last Saturday its project, Richmond Townhouse Condominium, which houses 71 residential units and a hotel condominium in Villa Armolinda in Barangay Tabok, Mandaue City.
Situated on a one-hectare property, Jo Mabugat of JDC said the townhouse and condominium is “perfect for community living.”
Targeting the middle- to high-end market and OFWs, the price for townhouse units range from P4.3 million to P4.5 million each.
Mabugat told Sun.Star Cebu that the project was conceptualized in 2004 and designed after a Spanish-Mediterranean village.
It is JDC’s third project in Cebu, the other two being 12-story Richmond Hotel, and Bantayan Richmond Tropical Resort in Bantayan Island.
Goodwill
“I use Richmond because the name has gained goodwill,” Mabugat said.
He said the company is planning to construct a seven-story executive condominium and commercial buildings in a two-hectare property in Mactan Island.
Mabugat did not provide details on the project, however.
Richmond Townhouse and Condominium has three phases. Phase one is a 30-unit three-level townhouse condominium and is already available in the market.
Phase two is a 48-unit four-level apartment condominium while phase three is a 40-unit eight-story hotel condominium.
Mabugat said buyers have four architectural designs to choose from. The townhouse has a total floor area of 135 square meters, he added.
Mabugat assured that payments are “easier for the buyer since (the payment scheme) is quite flexible.”
“We accept 10 percent down payment, 20 percent payable in the next six to 12 months, and the remaining 70 percent (can be paid by) a loan from banks,” Mabugat said.
The Richmond Town-house and Condominium is enclosed by concrete high perimeter fence and includes amenities like shipping ticketing office, Internet café, shuttle van service to malls, spa and massage house, clubhouse, coffee shops, restaurants, and function rooms, among others.
Mabugat also said part of the proceeds from the townhouse project will also go to a charitable institution. (MMM)



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