NEW PLAYER. Gothong Southern Properties has started the construction of its first condominium project named Yello City @ Salinas (YCS) Building 1 on Tuesday, Nov. 28, 2023. The condominium tower forms part of the 8,299 square meter Yello City @ Salinas township project that features at least five condominium towers with commercial area and other amenities.  GOTHONG SOUTHERN PROPERTIES

A NEW township development will rise along Salinas Drive Extension in Barangay Lahug, Cebu City, stimulating additional economic activities in the city.

Gothong Southern Properties, the real estate arm of Gothong Southern Group of Companies broke ground on Tuesday, Nov. 28, 2023, with its first condominium project named Yello City @ Salinas (YCS) Building 1.

Gothong Southern Group of Companies is engaged in shipping and supply chain businesses.

According to Jun Abines, Gothong Southern Properties’ business development officer, the Gothong family has several land holdings in Cebu particularly in Lahug area.

“Their long-term plan is to develop them into affordable premium condos and commercial spaces,” said Abines.

YCS Building 1 is a five-story condominium with 117 studio units. It is located in Upper Laguerta, Salinas Drive Extension, Lahug, Cebu City, a five-minute drive from Cebu I.T Park. It also has 31 parking slots.

YCS Building 1 forms part of the 8,299 square meter Yello City @ Salinas township project that features at least five condominium towers with commercial areas and other amenities.

Unit prices of the condo units at Building 1 range from P2.3 million to P2.5 million.

The condo features a spacious lobby and amenities that provide its future homeowners “experience premium living within reach,” the firm said.

“Yello City @ Salinas (YCS) Building 1 aims to give its clients a hotel-like experience in condo living by providing above-and-beyond the minimum requirements of economic condo projects,” said Helen Rigodon, sales and marketing head of Gothong Southern Properties.

“We intend to finish the construction of YCS Building 1 within 20 months. This way our clients can move in early and immediately enjoy the fruits of their investments,” said Ronald Velasquez, chief operating officer of Gothong Southern Properties.

The company eyes launching towers 2 and 3 next year.

Property advisory firm, Colliers Philippines said demand for condominiums in Cebu will continue to rise on the back of Cebu’s recovering economy and accelerated infrastructure developments.

“Improving infrastructure, regional economic growth and increasing commercial activities in the countryside have guided developers with their expansion strategies across the country,” said Colliers.

The government’s big-ticket public projects will likely provide access to properties that can be redeveloped into residential, commercial, leisure and industrial estates.

“In our view, the continued expansion of property firms outside of Metro Manila should be supported by the government’s decentralization efforts and provide business opportunities outside the capital region,” Colliers said.