This article was initially featured on InquirerPlus on April 5 2025 authored by Ar. John Ian Lee Fulgar. As cities expand both vertically and horizontally, the shared spaces between buildings take on significant meaning. They...
This article was initially featured on Sun Star on February 26, 2025 authored by Katlene O. Cacho-Laurejas.
MONTHS after its launch in Cebu, Manila-based luxury property developer Shang Properties Inc. is seeing strong sales for its flagship project, Shang Bauhinia Residences.
“Surprisingly, most of our buyers are locals,” said Wolfgang Krueger, executive director at Shang Properties, on Wednesday, Feb. 26, 2025.
He noted that many of these local buyers have acquired prime units in the tower, particularly those located on the upper floors.
Krueger added that demand remains strong, saying that they are “well into their double-digit sales in terms of percentage.”
Unlike other developers, Shang Properties does not release all its inventory to the public at once. Instead, it adopts a phased approach, opening units in batches to maintain exclusivity and demand, said Jayme Uy-Roberts, director for marketing at Shang Properties Inc.
On Wednesday, Shang Properties officially opened its Pop-up Gallery at the ground floor of 2Quad Building in Cebu Business Park. The gallery features curated displays of five of its latest projects in Cebu and Manila, including: Shang Bauhinia Residences (Cebu City), Laya Residences, Shang Summit, Haraya Residences and Aurelia Residences.
Krueger expects continued strong sales with the upcoming launch of its sales gallery in the second half of the year.
“We are delighted to be in Cebu. Cebu is such an important market for us… This pop-up gallery not only showcases the small details of Shang Bauhinia but also highlights our Manila projects,” said Krueger.
“Cebuanos will see that Bauhinia Residences is on par with our other luxury developments. It will truly be one of a kind here in Cebu,” he added.
Launched in 2024, Shang Bauhinia Residences is located on Bauhinia Drive, Gov. Cuenco Avenue, Cebu City. The 52-story residential towerwill feature two distinct brands within a single development: Shang Bauhinia Residences and The Signature Units at Shang Bauhinia Residences.
“We envisioned this pop-up gallery as a communal hub where our sellers and future residents can engage in meaningful dialogue. Cebu and Manila have a good mix of buyers, and we want to showcase the best of our Manila offerings to Cebuanos,” said Che Diaz, executive vice president-commercial at Shang Properties Inc.
Shang Bauhinia Residences is expected to be completed in the second half of 2031.
When asked if Shang Properties is eyeing additional developments in Cebu, Krueger said, “We are constantly looking for new opportunities to hopefully plant another flag in Cebu.”
In recent months, Cebu has seen condo launches in the upscale to luxury segments.
According to Colliers Philippines, price points for upscale units in Cebu start from P12 million to P19 million, while luxury units are priced at P20 million and above.
Joey Roi Bondoc, research director at Colliers Philippines, noted that the supply of upscale and luxury residential projects in Metro Cebu is relatively small compared to Metro Manila.
However, demand is likely to be driven by local and overseas-based Cebuano investors seeking attractive investment prospects that serve as viable hedges
against inflation.
“Just like in Metro Manila, we see these investors banking on the capital appreciation potential of these upscale and luxury residential developments,” he said.
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