Firm allocates P10B capex in 2023

PROPERTY developer Johndorf Ventures Corp. (JVC) is earmarking P10 billion to fund its current and new projects this year.

This mirrors the company’s confidence and optimism to the country’s real estate industry on the back of the global economic recovery.

“JVC will grow significantly this year. We are looking to invest about P10 billion into current and new projects. We have a thoughtfully designed pipeline of projects for the next five years, allowing us to intensify participation in economic recovery,” said JVC managing director Abigail Lim.

Lim said the company has adopted a bullish stance this year on the heels of “outstanding” performance in 2022.

JVC entered the property sector by building house and lot some 36 years ago. Now, the company ventures into mixed-use estate development with new communities planned for launching in Cebu, Davao and Cagayan de Oro Cities this year.

Lim said JVC expects to expand its footprint across various markets, including the luxury residential segment, while sustaining its lead in socialized, affordable and mid-end residential developments.

“We see huge interest in the residential-commercial estates that we are opening an upscale residential condominium project in Cordova, Cebu, a mixed-use in Davao, and a sustainable modern township in uptown Cagayan de Oro City. All these properties offer high-value appreciation potential. They are very attractive investment products,” Lim said.

JVC has a range of residential communities in various stages of development in key Visayas and Mindanao areas.

In Cebu Province, 464 units at the Plumera Mactan Cebu were completed in 2022. Navona Lumbia in Cagayan de Oro City was completed very recently.

Land development of Tierra Nava Opol in Misamis Oriental starts this year. Astana Davao and Coral Village in Lapu-Lapu City, Cebu are due for completion within this year.

First office project

JVC is also opening soon its first high-rise office building Johndorf Tower at the Cebu Business Park in Cebu City. The 21-story building, pre-certified by the US Green Building Council for Leadership in Energy and Environmental Design will host business process outsourcing firms and other economic frontrunners.

Leechiu Property Consultants, a real estate consultancy and brokerage firm, foresees commercial real estate strengthening with live leasing requirements from 2022 being carried over into 2023. It saw a surge in demand for residential properties all over the country as capital values and rents continue on an upward trajectory.

JVC has more than 40 projects spread across Visayas and Mindanao.