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Growing Davao demand noted for bigger property

Posted on August 07, 2013 10:41:15 PM [ BusinessWorld Online ]
DAVAO CITY -- Southern Mindanao’s middle class has started to seek bigger lot sizes -- a demand major property developers have begun to address, according to officials of two such companies.
Marlon Nino B. Escalicas, manager of Camella Communities-Davao, a subsidiary of Villar-led Vista Land & Lifescapes Inc., said in a recent telephone interview that many buyers of the company’s projects here have been looking for properties measuring at least 220 square meters (sq.m).
“They (buyers) are just waiting” for such offerings, Mr. Escalicas said, noting that Camella Communities has observed such demand not just in this city but also in Koronadal, Tagum and General Santos cities.
Before this, he recalled, property firms had been offering house-and-lot packages measuring 120-180 sq.m. worth P2-4 million.
He said prospective buyers have recently begun seeking lots that could accommodate landscaping -- a sign of growing market prosperity.
This, he said, is especially true of families of overseas Filipino workers.
Another growing market segment the company has been targeting consists of the self-employed, Mr. Escalicas said.
“Affordability is just secondary now,” he noted.
Camella Communities is not the only company that has noticed such demand.
At Fairlane -- a new seven hectare middle segment to upscale residential project about five kilometers south of this city’s downtown area -- developer Damosa Land Inc. of the Aflo Group of Companies has upsized house-and-lot packages to as big as 250 sq.m., said Alex G. Gocotano, project manager.
He said in a separate interview that the company decided to revise its offerings after prospective buyers began seeking lots bigger than 200 sq.m. -- CQF     
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