Wednesday, April 16, 2008 [ sunstar.com.ph ]
By Carlo P. Mallo
THE Floirendo-owned Damosa Land Inc. is pouring in investments in the real estate industry with three major projects lined up for implementation this year.
At the celebration of the company's Diamond Anniversary on Monday, the company unveiled its three major projects for 2008, starting off with the much- anticipated joint venture with Ayala Land Inc. involving the development of the prime nine-hectare property of the Floirendos in Bajada, Davao City to a mall complex.
In an interview, Edgar Villaver, general manager of Damosa Land Inc., said the project dubbed as Ayala Center Davao will be a joint venture of Ayala Land Inc. and Damosa Land Inc. as wekk as affiliate companies of Damosa, such as Anflocor and Pitrade.
Villaver said the first phase of the program will be the construction of the business processing outsourcing part of the project.
"It will be started by June 2008, while the retail and mall complex will be started by the end of the year," Villaver said.
Apart from the business processing outsourcing and mall complexes, the proposed land development will also include the construction of a hotel complex and commercial offices. The first phase of the project is to be completed by June 2009.
Another project of Damosa Land is the development of a residential-hotel-resort complex within the 33-hectare property of the Floirendos in Limao in the Island Garden City of Samal.
According to Villaver, the project will start in the third quarter of this year.
Damosa Land is also expected to start the construction of the Mindanao Jockey and Country Club, a racetrack, residential, and eco-tourism park, at the end of the year.
"It will consist of a residential area, an eco-tourism park, and of course the race track," Villaver said.
The Mindanao Jockey and Country Club will be constructed in Marapangi, Toril.
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