Rockwell sells half of P6.2-B Aruga Mactan, Cebu, residential project

ROCKWELL Land Corp., the property development arm of the Lopez Group, said it has already sold half its residential units in Aruga Resort and Residences in Mactan, Cebu, where most of the country’s top resort developers are clustering to create a destination.

Christopher Gecha, the company’s assistant vice president and Cebu project development head, said its P6.2-billion project generated a lot of interest among the buyers just a month after its launch in August.

The project has 200 upscale residential units and 250 hotel rooms, which also include units for sale.

Rockwell’s first residential-resort development is located on a 4.7-hectare property along Punta Engaño.

“With its unique property layout and design and an expansive 200-meter beachfront, the project is set to elevate the Mactan leisure and lifestyle experience,” the company said.

Gecha said the residential component of the project consists of one-bedroom units with a total area of 67 square meters (sq m), two-bedroom units with 101 sq m each and three-bedroom units with 161 sq m each.

He said most of their buyers are Cebuanos, although buyers from Metro Manila are catching up and now comprise almost half of those who have reserved units.

The Lopez property is among those with larger frontage facing the ocean, alongside with the development of Andrew Tan, the Gokongweis and the Gotianun groups and also Dennis Uy’s resort and casino development. Most of the area, however, have no beach, so developers are creating an artificial beach, by importing sand from somewhere else and piling this within their respective property.

Gecha said they have also sold 45 percent of the fourth tower of their first foray in Cebu, the P4-billion property at 32 Sanson by Rockwell in Lahug.

In 2014 the low-density, midrise project 32 Sanson launched its first two towers, Gmelina and Raffia.

With the market’s positive reception of the Rockwell brand in Cebu, these two towers, which have sold out and been turned over in 2016, have residents and investors comprising Rockwell’s first growing community in Cebu.

The company recently launched its third tower, called Buri, with a few units remaining, and will be turned over to its owners by 2019.

Last year it launched the fourth tower, named Solihiya, and is still receiving positive feedback, it said.

Gecha said the company will launch its fifth building, the last in the complex, within the next two years.

He said Rockwell is scouting for sizable properties to develop in Cebu as they continue to be bullish about the prospects of the local economy.

By VG Cabuag

Source: https://businessmirror.com.ph/rockwell-sells-half-of-p6-2-b-aruga-mactan-cebu-residential-project/

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