Paramount Properties Cebu Posts 67% Growth in 2017

Cebu’s premier lifestyle developer Paramount Properties Ventures Inc. (PPVI) enjoyed a record-year breaking year in 2017, hitting 67% growth — the highest growth rate posted since its incorporation in 2006.

The milestone came just in time as the real estate firm celebrates its 12th year in the industry. PPVI is a company under conglomerate Cañedo Equity Ventures.

“We are greeting our 12th year with much confidence following a successful 2017. We doubled our workforce and banked on new inventories to increase total sales to as much as 50% against last year’s revenues,” said PPVI Senior Vice President Emmanuel Victor Estrella.”

He added that the company’s move to open residential projects in Mactan and Compostela contributed to the growth.

Last year, PPVI launched three new projects — The Links in Mactan Island; The Wellington Greens in Compostela, and Segovia South Villas in Carcar City.

With the addition of the said communities, PPVI has a total of 11 communities to date. Others projects include: Residences of Coral Bay, Fonte de Versailles, Zen Residences at Vizkaya, and Francesca Highlands, all in Minglanilla; The Mazari Cove and The Enclave in Naga City; and La Cresta Homes and La Cresta Hills in Carcar City.

Mid-rise buildings in 2018

After developing horizontal projects for more than a decade, Estrella said that it’s about time for PPVI to go vertical.

“For 2018, we are happy to announce that we will be launching three (3) mid-rise buildings. We see a growing condo market and we want to get a share of that market,” said Estrella.

Estrella further said the company will soon have presence in the city, adding that one of its condominium projects will be located in Day-As, Cebu City.

“The move to offer condo opportunities is aligned with our five-year expansion plan to provide the Paramount living experience to future home buyers in Mega Cebu region. We are also eyeing to bring our lifestyle communities to other emerging cities in the country such as Davao, Iloilo, and Cagayan de Oro City,” he added.

PPVI has set Php 10B to fund new projects in 2018.

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