During A Brown Company, Inc. (ABCI) annual stockholders’ meeting held on June 19 at its flagship Xavier Estates project in Cagayan de Oro City, Robertino Pizarro, company president reported a five-year project for a total contract price of PhP2.5 billion for socialized and economic housing.
The socialized and economic housing will expand to Butuan City, Rizal, Bukidnon, and Davao City. The company shifting its focus on the middle income earner to help address the 3 million backlog for housing in this sector. Among these projects are Ventura Residences, St. Therese Subdivision, and Mountain View Homes in Balulang, Cagayan de Oro City. For 2015, ABCI is launching Simple Homes projects: Mountain View Homes (expansion), Adelaida Residences, and Simple Homes developments located in Cagayan de Oro, Butuan City, Bukidnon, Rizal, and Davao City. Additional socialized housing developments in other parts of Mindanao are also being eyed.
For its mixed-use, nature-themed, master-planned integrated communities, ABCI has established industry leadership in Northern Mindanao with Xavier Estates, its flagship property in Cagayan de Oro, the region‘s pioneering high-end residential subdivision. Among the company’s other innovative properties in the high-end sector are Teakwood Hills in Cagayan de Oro, Coral Resort Estates in Initao, Misamis Oriental; Valencia Estates in Bukidnon, West Highlands in Butuan City, and East Cove Village in Rizal.
However, another new project which will not fall under the economic and social housing sectors is ABCI’s first ever vertical project, a 36-unit multi-story condominium at its prime Coral Resorts Estate in Initao, Misamis Oriental. Although it is ABCI’s first vertical development project and a distant location from the urban areas of Cagayan de Oro and Iligan, Mr. Pizarro assures it is a market driven initiative. “The project arose from the desire of many of our locators in Xavier Estates to have a second home where they could relax for the weekend, and Coral Resorts just happened to fill that need,” Mr. Pizarro said. “So the market for this project would definitely be Cagayan de Oro, and more specifically, our existing home owners in Xavier Estates.”