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[ Davao City ] City's developer yet to feel effects of economic slowdown


Tuesday, June 16, 2009 [ sunstar.com.ph ]

By Carlo P. Mallo

THE effect of the global financial crisis is hardly felt, if there's any, by Davao City's leader in condominium development, DMC Urban Property Developers Inc. (DMCI).

In an interview with Sun.Star Davao, Jose Merin, managing director of DMCI, said if there is an effect felt by the company with regard to the economic slowdown of various economies worldwide, it is very minimal.

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"We were not affected at all. If we were, it was very minimal," Merin said.

Davao City, Merin said, has not been adversely affected by the global financial crisis, at least not as much as other cities are.

The same was echoed by DMCI area manager Leonora Gutierrez.

"January and February are always lean months, but even during that time, the sales were still continuous," Gutierrez said.

DMCI is the leading condominium developer in Davao City with two medium rise condominium complexes. The company also holds the distinction as the first to venture into the condominium development in Davao City with their Ecoland 4000 project.

Under construction is the seven-storey three-building complex named Magallanes Residences. (CPM)

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