MANILA, Philippines – Ovialand Inc., a subsidiary of Malate Construction and Development Corp. (MCDC), has picked Sto. Tomas in Batangas as the site of its first project in the low-cost housing category.
Called Terrazza de Sto. Tomas, the project is also the MCDC Group’s first master-planned community, and features 55 percent open space, generous compared to industry standards. Located in a 5.8-hectare property, Terrazza de Sto. Tomas will have only 333 units, making the project a low-density and spacious community for its residents.
It will likewise offer a convertible, one-of-a-kind sports and recreational court (mini football field and basketball half-court), a multi-purpose clubhouse, swimming pool and fully landscaped pocket gardens, among others.
For this project, Ovialand is spending around P500 million for its development. Terrazza de Sto. Tomas will be offering house and lot units priced from P1.7 million to P3.2 million, with three models to choose from: the single-detached Amore on a lot area ranging from 100 – 189 sqm; Dolce or the duplex units with lot area of 76 – to 114 sqm; and Bacci or the quad units with a lot area of 55 – 68 sqm.
Ovialand’s developments are currently focused in the Southern Luzon region, with projects in Laguna and Batangas. An upstart firm, it took over the project of parent MCDC in Calamba City, Laguna called Vermont Place.
Fatima Olivares-Vital, business unit head of Ovialand, said Southern Luzon is proving to be a very lucrative market for real estate and is seen to be among the top three growth areas in the country.
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(excerpt taken from philstar.com)