Realtor PH1 World Developers Inc. (PH1WD) has generated an estimated P1.25 billion in sales from the first two towers of its residential project One Lancaster Park (OLP) in Imus City.
This after the property development arm of listed Megawide Construction Corp. said in a statement on February 24 the first two towers of the 15 eight-storey residential buildings in the 10-hectare property development are already 93 percent and 60 percent sold.
This led the company to launch the third tower of the project, which the company said is 30 percent sold just one month after the launch.
Tower 4 is scheduled to be unveiled towards the latter part of this year.
“OLP brings green living closer to Metro Imus, Cavite and offers a perfect balance of both city and nature life. By combining the convenience of metro living and the open-air feel of suburban space, PH1WD offers the perfect commune for future residents,” said Gigi Alcantara, PH1WD president.
“While Metro Manila is affected by the ongoing glut in condominium units, we believe that sprawling suburban areas, such as Cavite, offer significant growth potential in the real estate space and OLP’s value proposition will be an absolute come-on,” Alcantara added.
OLP is the first and only condominium project in Lancaster New City, which PH1WD is developing in partnership with Famtech Properties Inc. for the first phase.
PH1WD is constructing and managing OLP’s inaugural Towers 1-5, with Towers 1 and 2 offering 191 one- and two-bedroom units.
As of last year, OLP units are priced at P4.3 million for the one-bedroom and P6.25 million for the two-bedroom.
Located in Imus City, OLP is less than an hour away from Metro Manila and has multiple access roads, such as Cavite Expressway, Cavite-Laguna Expressway and South Luzon Expressway via Muntinlupa-Cavite Expressway-Daang Hari Exit.
The soon-to-be-operational Phase 1 of the Cavite Bus Rapid Transport (BRT) System, which parent firm Megawide is currently developing, will further boost connectivity, Megawide said.
“The Cavite BRT project will connect to the Parañaque Integrated Terminal Exchange (PITX), which will then serve as a jump-off point to other business districts around Mega Manila,” said Edgar Saavedra, Megawide chairman.
“This project is seen to boost accessibility and viability of OLP and PH1’s other projects in Cavite, like the Southscapes, as perfect alternatives for comfortable living and breathable spaces,” he added.
The Cavite BRT project includes the operation of a point-to-point (P2P) route, with an alignment of 42 kilometers stretching through Imus, General Trias, Tanza, Kawit, Trece Martires and its surrounding areas.
Phase 1 will be composed of three terminals and 27 stations, with the P2P service connecting nonstop to PITX.
