According to Nova Noval, BE Group chief operating officer, property remains a viable investment even during uncertain times, especially for a mega-city like Cebu, whose infrastructure development keeps on accelerating and businesses thriving. She said investors can’t resist a piece of investment when attractive returns can be expected in the future and whose value appreciates over time.
In 2019, the homegrown firm conceptualized Balai, the affordable housing segment under BE Residences. Balai was established in the hope of helping more Filipinos own homes without having the need to empty their pockets and in locations where tremendous growth in land value is expected.
Balai presents an investment opportunity for homebuyers and investors who are banking good returns in the post-pandemic environment.
The group initially floated 452 resort condominiums into the market in 2021 with the unveiling of Balai Punta Engaño Uno in November located along the luxury stretch of Punta Engaño in Mactan. From a pre-selling price of P2.8 million in 2021, a unit in Balai Punta Engano is now around P3.2 million.
Balai Punta Engaño is a 19-story condominium resort located along the so-called “billionaires’ row” of Punta Engaño, Mactan, just a few meters away from luxury resorts like Shangri-La’s Mactan Resort and Spa, Mövenpick Hotel Mactan Island Cebu, Sheraton Cebu Mactan Resort, Dusit Thani Mactan Cebu Resort, and its own Be Resort Mactan, the firm’s resort business.
Noval said this first project of Balai earned an overwhelming response and booked impressive sales from local buyers.
“Balai Punta Engaño was a success. This project carried us through the pandemic,” she said.
Balai Punta Engano is composed of studio, one and two-bedroom and 16 pet-friendly yarden (garden) units. It is due for turnover to unit owners in 2024.
Balai boasts of amenities like the “Dayon” (welcome), a kiddie and lap pool, sunken lounge, wet deck, indoor and outdoor shower rooms and “Tapok,” (gather), an activity or performance stage, lounge area, semi-covered community space, and a non-active multi-purpose area ideal as a meet-up space or mall events.
It also has work spaces, semi-covered community space, and non-active multi-purpose area for home work and outdoor study dubbed “Obra” (work) and “Duwa” (play), a semi-covered playground, creative nooks, multi-function halls, area for events and outdoor activities.
Banking on Balai Punta Engaño’s success and riding with the growth momentum of Cebu, Noval said the BE Group has already mapped out plans of where the next Balai should be.
Some 1,500 Balai units will be up in the market soon for Balai Punta Engaño Dos (300 units), Balai Cordova (600 units) and Balai Helena in Panglao, Bohol (600 units).
Balai Cordova is a five-tower development with a commercial component. The project sits on an 8,000-square-meter property that is just a kilometer away from the foot of the Cebu-Cordova Link Expressway (CCLEX).
Noval said Balai Cordova is the first condominium project in the town. Like the first Balai tower in Mactan, the project in Cordova is expected to enjoy high returns with the anticipated P12 billion 254-hectare reclamation project that is poised to turn Cordova into an economic powerhouse.
The reclamation project is envisioned to have a 204-hectare mixed use commercial, business, and residential area and another 50-hectare business and residential hub with an added recreational area featuring a cruise ship dockside.
Moreover, capitalizing on its long-standing presence in Bohol through its BE Grand Resort, the company is also bringing its residential brand in Dauis, Panglao.
The 2.4-hectare master-planned project named Helena Panglao features a commercial strip called Plaza Helena, a three-tower Balai Helena and Helena Homes, which is the company’s first foray into the house and lot development.
“The Bohol project will be our biggest so far,” said Noval.
Panglao’s local economy is on the rise with the return of foreign and local travelers. Owning a piece of property in this eco-tourism destination is a good source of passive income with the expected surge in tourism investments in the area.
Balai’s aggressive expansion in Cebu and Bohol is backed by the BE Group’s solid financial standing with diverse business portfolio from cement, furniture making, resort and hotel business, among others. (SPONSORED CONTENT)