Brisk sales has been reorted by upscale property developer Rockwell Land Corp. for its inaugural beachfront residential condominium project in Mactan, Cebu where about 54% of the 276 keys at the first residential tower of Aruga Resort and Residences in Punta Engaño have been taken.
An Inquirer report said the project infused some P8.5 billion worth of fresh residential inventory into Mactan’s property market. The units are expected to be turned over to buyers by 2023.
The beachfront units facing east are currently selling for Php357,000 per square meter, the highest price in Mactan to date, said the Inquirer report, noting that the price range is “at par with the pricing of some recently launched residential offerings by other developers in the Makati central business district.”
The units facing the west, on the other hand, which comes with a panoramic view of the Magellan Bay, are selling for as much as Php270,000 per square meter. Average price per square meter is P311,000. Unit sizes range from 67 to 292 square meters.
Aruga Resort and Residences will have three towers, the first of which is the residential tower whose units Rockwell is now preselling. This project marks Rockwell’s second foray in Cebu’s residential market, following an earlier enclave in the city center, 32 Sanson in Lahug, which now has a thriving community.
