Rizon property expands memorial infrastructure in Lapu-Lapu
RIZON Property Holdings Corp. has commenced construction on its latest venture, the Serenity Viewing Chapel, a contemporary three-story funeral facility set to reshape end-of-life services in Lapu-Lapu City.
The project is an added facility of Haven of Peace Memorial Garden, a growing player in Cebu’s memorial park real estate sector.
Positioned as a tranquil and easily accessible sanctuary for bereaved families, the Serenity Viewing Chapel underscores Rizon Property’s ambition to meet increasing urban demand for dignified, community-based memorial services, which have historically been concentrated in Metro Cebu and adjacent urban centers.
Features
The new facility will feature 11 viewing chapels, including two luxury suites with private amenities and nine standard air-conditioned rooms.
Shared amenities will include public lounges, a convenience store and over 25 parking spaces, with provisions for persons with disabilities.
The design incorporates elevators, a dedicated garage for funeral vehicles and a skylight-inspired aesthetic, reflecting a modern approach to funeral arrangements.
Mario Rizon, the company founder and chief executive officer, said the Serenity Viewing Chapel directly addresses the evolving needs of the market, offering Lapu-Lapu residents a local alternative to often congested and costly memorial chapels in neighboring cities.
“Serenity Viewing Chapel reflects our belief that compassion and accessibility must define every step of the memorial experience,” he said.
Rizon Property’s expansion signifies a broader trend in Philippine niche real estate investment, with developers diversifying into sectors like memorial parks, columbarium and crematoriums, which were previously dominated by established operators.
Growing memorial
real estate market
Its development comes amid structural shifts in the Philippine memorial real estate market, driven by population growth, urban expansion and rising middle-class incomes.
Data from property consultancy firm Colliers Philippines indicates consistent land value appreciation in memorial parks, particularly in urban and peri-urban areas like Cebu, with annual gains ranging from five to eight percent in select provinces.
Analysts note that while these assets may not be high-profile, they offer steady long-term yields due to pre-need sales and low operational volatility, driven by the necessity-based and culturally embedded demand in densely populated areas like Cebu. / KOC
Source:
https://www.sunstar.com.ph/cebu/rizon-property-expands-memorial-infrastructure-in-lapu-lapu
