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Cebuano-owned MSY Holdings Corporation will focus its investments on Cebu for the next 10 years.
Carla S. Yeung, chief executive officer and vice president for finance, said that the company viewed Cebu as a very promising market for its real estate projects.
?We think that the economic growth of Cebu is going really well and we want to be here aside from the fact that my mom, Mariquita Salimbangon-Yeung, is from here and that we love Cebu.?
Real estate development in Cebu is also growing fast, according to chief operations officer Chris G. MacKowen.
He added more industry players were thinking of investing in sizable Cebu projects ?like the Chinese and Koreans who are already building here.?
The latest real estate project of MSY Holdings Corporation, Bayswater Subdivision, is located along Agus Road in Barangay Marigondon, Lapu-Lapu City and is selling fast, he said.
?From the day that we launched it, we already sold at least 30 percent of the 800 units,? MacKowen said.
Bayswater Subdivision caters to middle- and high-end buyers, who comprise most of the buyers in Cebu, according to MacKowen.
?We also decided to launch the project not only because of the huge market but because we want to bring to Cebu international standards when it comes to residential projects.?
Aside from Bayswater Subdivision, MSY Holdings Corporation has also invested in a 400-unit low-end market project called Bougainvilla Village in Mactan.
Despite Cebu's already positive reputation outside the country as a strong economy, Yeung believes there are still areas for improvement in terms of visibility as well as in financial positioning. ?Cebu can still have more quality developments which is what we are doing right now in our Baywater project.?
Model units for Baywater Subdivision were unveiled on Sept. 19.
MSY Holdings Corporation has invested in other countries as well. It has investments in the United Kingdom, Hong Kong and England.
