Pueblo de Oro Development Corp. is spending P18 billion to expand its housing projects in Cagayan de Oro City, Batangas province and Cebu City amid the resurgence of the real estate market.
The company said it expects a surge in demand for both residential and commercial properties in the coming year.
Pueblo de Oro, a unit of the ICCP Group, revealed earlier this year plans to spend about P13.5 billion in new projects in Cagayan de Oro, specifically on the Masterson Mile Towers, the city’s premier high-rise condominium project.
Gensler and Associates from Singapore and Casas+Architects will design the 22 to 27-story project.
Pueblo de Oro also bared plans to break ground on the expansive 31-hectare Southridge development, designed to emulate the innovation and vitality of Silicon Valley in the San Francisco Bay Area.
Pueblo de Oro is expanding its footprint in Batangas, with two new projects in Lipa City and Batangas City, with estimated project costs of P1.8 billion and P1.7 billion, respectively.
Both Pueblo de Oro Courtyards Lipa and Pueblo de Oro Westwoods Heights Batangas City target the middle-income market by offering single-detached and single-attached houses.
The company recently inaugurated the Pueblo de Oro Townscapes Malvar township.
Pueblo de Oro is committing P1.2 billion to PDO Townhomes Carcar, an economic housing community in Cebu slated for launch in October 2024. The townhouse project will be part of a planned integrated township development.