Posted on 08:13 PM, April 07, 2010 [ BusinessWorld Online ]
DAVAO CITY -- DMC Urban Property Developers, Inc. of the Consunji Group is looking at developing four more sites just outside the city’s central business district.
High demand is encouraging property firms to come up with more residential projects. -- http://www.dmc-urbanpropdev.com.ph
High demand is encouraging property firms to come up with more residential projects. -- http://www.dmc-urbanpropdev.com.ph
Leonora P. Gutierrez, the company’s director for sales, marketing and customer care, said the projects would be at the Ecoland area where SM City Davao is located.
Ms. Gutierrez said these properties are:
• within Times Beach, a coastal area where there are squatters;
• a 2.2-hectare land just across Ecoland 40000, the firm’s first condominium project here;
• a 3.1-hectare land next to the Indonesian consulate; and
• a one-hectare property near SM City Davao.
Details for each project are still unavailable since there could be changes in the design within the near term, she said. In the case of the company’s Magallanes Residences condominium at downtown, for instance, information three years ago disclosed that three buildings would be constructed: one 10-storey and two seven-storey structures.
But only one five-storey building has been erected in the property located at the back of the Davao City Hall.
Property companies have been aggressive in the city because of good market response in the last few years. Carlos Omar A. Vargas, president of the local chapter of the Chamber of Real Estates and Builders Association, said middle-income earners in the city have started considering investing in properties.
Mr. Vargas said some of the property companies in the city have run out of units for sale because they were able to sell all their projects even before these were completed. Mr. Vargas said overseas Filipino workers have remained the biggest buyers of properties in the Davao region, notwithstanding the global recession that started in late 2008.
Ms. Gutierrez said DMC Urban Property Developers has started the second building of its seven-building Magallanes Residences after the first building was immediately occupied by buyers. “The rest of the buyers are still complying with their requirements before moving in,” she said in reference to the buyers of the 115-unit first condominium building.
The company has also started its third condominium project, the three-level Palmetto Place in Ma-a district. “Construction is now going on,” Ms. Gutierrez said.
Another development under DMC Urban Property Developers that has started construction is the 9.1-hectare “Hacienda,” a house-and-lot project within a durian plantation owned by the company. -- Carmelito Q. Francisco
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