Pueblo De Oro to spend P2B for Carcar township project

2021 Oct 18 | by Apple Barretto

PROPERTY developer Pueblo De Oro Development Corp. has bigger plans for Cebu amid the pinch from the Covid-19 pandemic.

It will resume a more aggressive capital spending next year with a budget of P2 billion to develop its 20-hectare Carcar property into an integrated township development, Ronald Allan Uy, vice president and general manager of Pueblo De Oro Development Corp.-Visayas, said in an interview Friday, Oct. 8, 2021.

Of the P2 billion planned capital expenditure, P500 million will be used to fund the first phase of the development which will cover some five hectares.

“Real estate developers, particularly the residential sector, are actually bullish on the country’s residential needs, especially now that the country has vaccinated more than 25 percent of its target population. We also now have a new pill said to combat Covid-19 that is believed to be more effective, so there is no way for the economy but to bounce back and recover. That is why Pueblo De Oro is on the land acquisition and expansion mode, ready to capture the needs and demands of the market when everything normalizes,” said Uy.

Pueblo De Oro’s residential projects in Cebu are La Aldea Del Mar, Park Place, La Aldea Buena Mactan and La Aldea del Rio.

Read the rest of the article at SunStar.