ALTHOUGH the prices of construction materials continue to increase, the real estate arm of the Aboitiz group said it will fulfill its commitment to finish its housing and condominium projects on time.
Andoni Aboitiz, president of Aboi-tizland Inc., said rising prices of materials has affected the company but it can deliver projects as scheduled.
From January to present, the prices of steel have increased 100 percent, he said.
Mandy Baria, Aboitizland vice president for construction, said the prices of other materials increased 200 percent from the start of the year.
'It really affected all our projects,” he added.
But he said that instead of increasing its prices, Aboitizland implemented measures to make sure that its different projects are completed on time.
For one, the company sees to it that it “swiftly” pays its contractors so that they would have funds to buy the necessary materials, he added.
Pia Mantecon, Aboitizland vice president for marketing and customer service, said that although the budget of the Persimmon project has been affected with the increase in the prices of construction materials, the company will not increase the prices of the units.
Promise
“We already have a timeline of increases based on the project feasibility studies we made,” she said, adding that the schedule of increases is also communicated to its buyers.
Last Friday, Aboitizland broke ground for its first residential condominium project, the Persimmon.
“Our promise to our vecinos (Spanish for neighbors, a terms used by Aboitizland to refer to buyers) is to start construction in July 2008 and we are definitely standing by that promise,” Aboitiz said in his speech.
One of four 15-story towers within the Persimmon project is expected to be finished in two years.
Upon completion of the first building, the West Tower, Aboitiz said Cebu “will see a whole new lifestyle unfold.”
At present, the company is finalizing the design details for the North Tower. “The earliest launch of the North Tower is January 2009, latest would be April 2009,” said Mantecon.
A commercial strip within Persimmon will be developed starting this September.
Aboitizland engaged the services of Asian Technician Managers and Consultants Inc. as the project management consultant and contractor for the Persimmon.
The Manila-based firm is considered to be “very experienced,” and had handled several projects in Makati for the Ayala group, said Baria. (DME)
