Real estate companies PH1 World Developers (PH1WD) and ProFriends recently formalized a development contract for their joint venture Famtech Properties (Famtech).
Famtech will develop One Lancaster Park (OLP), a new vertical property development inside Lancaster New City in the heart of Imus City, Cavite.
At the contract signing were top executives: PH1WD’s chairman Edgar Saavedra; president Gigi Alcantara and project director Spike Ching; Pro-Friends commercial business group head Richard Tay and Famtech Properties comptroller Manilyn Culo.
Under the development contract, PH1WD will construct and manage OLP’s first two towers as part of phase 1, each comprising 191 units.
OLP combines the convenience of metro living and the relaxing vibe of nature. Running through the development is a sprawling 7-hectare leisure field that will feature a family bonding zone, a kids’ playground, a physical activity area, quiet zone, and pocket gardens, with the convenience and security offered by a condominium-style development.
When finished, the entire OLP property will boast nine eight-storey buildings with basement parking. Completing the surroundings will be elevated walkways that will connect pedestrians to various points of interest, a clubhouse, three adult and kiddie swimming pools, plus a basketball court.
“Famtech is looking forward to becoming the first vertical development within Lancaster New City. It’s fitting to launch our unique “Metro Living with Nature” concept in Imus because the province of Cavite is itself a convergence of urban development and natural surroundings,” said Gigi Alcantara, President, Famtech Properties representative.
“OLP will appeal to potential homeowners and scouting to purchase a property as an additional investment that they can earn from, or pass on to their children,” explained Richard Tay, ProFriends Commercial Business group head.
PH1WD parent company, engineering, and infrastructure innovator Megawide, will undertake the construction of OLP, including towers 1 and 2 which are two L-type residential buildings, roadworks, a sewage-treatment plant, as well as site and amenities development.
“PH1WD will continue to positively disrupt the local property development sector that will manifest in OLP,” Alcantara said.
“Future homeowners of the property can look forward to experiencing a high-standard of form and functionality that is the trademark of a Megawide-built housing structure.”