RLC Residences continues to make significant strides with its projects and is committed to launching more this year.
Chad Sotelo, senior vice president and business unit general manager of RLC Residences, shared during a sideline interview at the launch of Mira Residences in Quezon City on March 5, the first tower of Mantawi Residences in Cebu has achieved a 60 percent sales rate within less than a year since its launch.
With such impressive performance, Sotelo disclosed the company plans to unveil the second tower of the premium condominium project within the next one or two quarters.
“Typically, we launch the next tower when the previous one reaches about 80 percent occupancy. By May, we anticipate reaching close to 80 percent,” said Sotelo.
He noted the project’s pace has exceeded expectations, especially considering that Mantawi Residences is RLC Residences’ maiden premium project in Cebu.
“Initially, we projected the launch for the second tower to take place in 18 months.
However, it’s been performing exceptionally well. I believe Cebu is ready for more premium projects,” Sotelo said.
Sotelo said RLC Residences has a robust land bank both within and outside Cebu City, bit specific project launches are still under consideration. Meanwhile, in Metro Manila, the company also has a healthy land bank.
In particular, the latest addition to their projects in Quezon City is Mira.
At its Bridgestowne township t in the Pasig/Quezon City area, RLC Residences has ongoing residential projects.
Le Pont, similar to Mantawi Residences, has reached an impressive 80 percent completion rate. Another notable project is Velaris, a joint venture with Hong Kong Land. The other projects are Haraya and Cirrus.
Despite recent emphasis on high-end and premium markets, Sotelo said, “We’re not abandoning our mid-range offerings. We’re expanding our portfolio as we move upward.
But we’re still going to have a strong pipeline of launches mid range and Mira is one of them.”
