AFFORDABLE residential subdivision developer ACM Landholdings Inc. said it plans to venture into township development in the coming years, starting off with a mid-rise building project to be located tentatively in Imus, Cavite.
In a recent interview with the Manila Times, ACM Landholdings Inc. managing director Carolina Osteria said the company is beginning the shift in its product offerings as it is currently planning to develop a mid-rise building project.
“We are about to build some mid-rise buildings,” said Osteria.
ACM’s previous projects were mainly house-and-lot packages targeted to its niche market of seafarers and their families.
Osteria said the mid-rise building project is currently at the conceptual stage and is targeted to be located in Imus, Cavite.
“In Imus initially, because Imus is now urbanized and we also have this project in Cavite. It’s this very big project that will be a township,” she said.
She added that the township project, to be located in Silang, Cavite, will be the firm’s first venture into the commercial development business as it will feature components such as BPO offices and retail stores.
Osteria said the project is currently in the planning stage. She gave no target date for the start and completion of the project other than saying developments will be seen in “a couple of years.”
“The planning stage is happening now. We have a master planner whom we hired from Boston, who did the China Olympic village, and we decided that this is our maiden voyage to a township and therefore we have to do it right and we have to do it well,” said Osteria.
She said the township will sit on a 300-plus hectare lot that will cost around P3 billion for the land alone, and another P3 billion for the development of the project.
“This will be an opportunity for us to earn some leasing income. You have to have some regular income on top of the volatility of the market,” said Osteria.
ACM Landholdings Inc., also called ACM Homes, was established in 1992 and has built over 10,000 affordable houses in gated subdivisions in Cavite and Batangas in Southern Luzon.