Months back, I spoke about passive income which is basically earning money without being directly involved . I’m actually about to practice what I just preached. I finally invested in a humble piece of real estate thanks to Orient Woods, a joint venture of Dumaguete’s homegrown cooperative, Perpetual Help Community Cooperative (particularly its holdings corporation), and Cebu real estate giant, CLS Properties Inc.
The ground breaking ceremony of this five hundred-home subdivision was held on September 14 at the development site in Tubtubon, Sibulan. In attendance were top personnel of both companies, representatives of Pag-IBIG Home Development Fund, Sibulan LGU officials, real estate brokerage firms, and other guests.
In his speech during the ceremony, Pag-IBIG Fund Business Development Sector Senior Vice President Fermin Sta. Teresa Jr. reiterated the agency’s support for Orient Woods. He said that Pag-IBIG is “very happy to be part of the undertaking” since it is in line with the agency’s thrust of “providing countryside housing.” He also said that this is the ninth of the fifteen initiatives Pag-IBIG will pursue with CLS Properties Inc.
PHCCI Board of Directors Chairperson Danilo Cabahug, for his part, said that this major development is only a first as the cooperative flexes its holdings corporation muscles. It is important to note that PHCCI is the first cooperative in the Philippines to establish its own holdings corporation which is testament to its gargantuan growth. Director Cabahug also said that Orient Woods is an initiative undertaken with one of the goals of PHCCI in mind which is to give importance to the needs of its members so that they will succeed.
The Sibulan LGU also intimated its support to the venture. Administrative Officer Harold Calingacion believes that Orient Woods will further contribute to the municipality’s progress. He also noted that this is the twelfth subdivision established in Sibulan and urged both PHCCI and CLS to make sure that adequate attention is given to both traffic management and proper waste disposal.
CLS Chief Operating Officer Engr. Ken Salimbangon responded positively to the LGU’s challenge, saying that it is a firm commitment of CLS to deliver quality, affordable homes to the people.
PHCCI Holdings CEO Ramil D. Repe, CPA, closed the ceremony on a hopeful note saying that PHCCI will continue to pursue initiatives that will truly make a difference in the community.
When finished, Orient Woods will offer a total of 500 homes with amenities such as a swimming pool, clubhouse, public parking area, and a basketball court among others. At present, there are two models that potential home owners can choose from: Jasmine (rowhouse) and Magnolia (townhouse). Both models have adequate parking space so vehicles don’t become road blocks. For inquiries about Orient Woods, you can reach Ms. Beth at 09171704240.