Posted on June 04, 2012 09:19:48 PM [
BusinessWorld Online ]
Ricardo R. Floirendo, Damosa Land
senior vice-president, said the theme park will just be a component in the plan
for the area.
Other components would include housing
and other property projects, although Mr. Floirendo told BusinessWorld that the
plan is yet to be finalized.
Part of the development, he added, is
a five-hectare subdivision that would provide housing units to officials of
Anflocor companies who are based in Panabo City.
Panabo, one of the three component
cities of Davao del Norte, is home to several Anflocor projects including the
P2.7-billion Davao International Container Terminal, whose groundbreaking last
month was attended by the 96-year-old patriarch, Don Antonio O. Floirendo.
The city also hosts the Tagum
Agricultural Development Co., with its 10,000-hectare banana plantation that
employs about 8,000 people.
Although Damosa Land has yet to
finalize the total project cost for its Panabo property, Mr. Floirendo said the
company is looking at continuing to implement more projects within its current
landholdings.
“The good thing about this is that our
father was able to go into land banking and that these properties have started
to mature (for investments),” he said. He did not provide details, however, on
the size of the land banked by the company.
In late April, Damosa Land launched
its seven-hectare Fairlane housing project in Davao City. Mr. Floirendo said the
company is investing about P200 million for the project, which was named after
the estate of Henry Ford, founder of the Ford Motor Co. The Floirendo family
used to be a dealer of Ford vehicles in the Philippines.
In an earlier statement, Anflocor said
its foray into property development is an indication that it has strengthened
its business presence. “As the need for high quality property developments
continues to diversify, Damosa Land is always on the beat of knowing the
demands of the market to give them the best that they deserve,” it added. --
CQF
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