Wednesday, February 4, 2009 [ sunstar.com.ph ]
By Gigie A. Agtay
AN EXECUTIVE of Landco Pacific Corporation, a leader in the development of world-class real estate properties, said they remain bullish in Mindanao amid the present global financial crisis.
Michael R. Reyes, Landco vice president for Visayas-Mindanao and Business Unit head, its newest resort community project -- Playa Azalea on the Island Garden City of Samal -- has gained an encouraging momentum in so far as lot sales in concerned.
"Around 25 lots were sold during the pre-selling late last year and as of April 2008, 200 of the total 600 lots have already been taken," Reyes said, adding that ridge lots and those near the beach are the most saleable.
For a minimum of P3 million, one can enjoy the comforts of urban living in a natural backdrop of beach, mountains and foliage Playa Azalea, a 33-hectare sprawling land located in Limao, Kaputian District in Samal, is a premier resort community that offers world-class amenities in an Asian Tropical landscape.
Expected to be developed within 2-3 years, Playa Azalea is said to be Landco's comeback project in Davao.
After several joint ventures in Davao several years ago that saw the creation of Woodridge, University Mall, and Las Terrazas, Landco decided to come back to Davao through Azalea -- a partnership with the Floirendos.
Aside from Playa Azalea, Reyes said they have just opened Woodridge in Zamboanga City in December 2007. In Cebu City, they are currently developing 250-hectare Terrazas de Cebu, the last prime property in the heart of Cebu that is covered by three barangays. It is expected to be completed in 10 years.
Over the last 19 years, Reyes said Landco has had joint ventures with more or less 20 joint ventures such as those with the Floirendo, Angara, Roxes, Prez-Rubio and other business prominent families.
As a developer of innovative lifestyle concepts like Punta Fuego, Leisure Farms and Playa Calatagan, Landco is said to be growing its organization to continuously lead in the development of world-class real estate products
