By Eddie O. Barrita
CEBU CITY, Sept. 19 (PNA) — Singapore-based property developer Syntech Properties, Inc. has announced the development of a 37-hectare retirement village in Balamban town, some 50 kilometers west of this city.
Syntech Properties, led by director Janice Ngiam-Chong, paid a courtesy call on Balamban Mayor Ace Binghay to discuss the project, which is now in the documentary and ground work stages.
Syntech Properties is the developer of the three-building City Lights Garden Condominiums in Busay, Cebu City.
The company said it will initially develop the phase-one of the active retirement community which will have 66 house and lot units and an organic farm.
The project whose master-planned development will run for eight years, will emphasize green technology.
It will also tap local farmers to manage its organic farm through the establishment of a cooperative.
The development will also put up other facilities needed in a retirement village such as clinic, retail joints, among others.
Syntech Properties started similar development projects in other countries like Japan and Australia.
On top of owning condominium units in the city, Anita Blanco, senior sales consultant of Syntech Properties, said the affluent market is also keen on owning houses in the mountains.
The market has started to move up and owning a house in the mountains is becoming in demand among the growing affluent market, she said.
The retirement village is positioned to attract active retirees from the local overseas Filipino market as well as foreigners married to Filipinas.
Blanco said one of the attractive selling points of the retirement village is its beautiful location.
She said the road trip to Balamban, which takes about an hour and a half via the Cebu Transcentral Highway, reveals the fresh cool air and green and beautiful landscape of Cebu. (PNA)