Posted on July 14, 2014 09:31:56 PM [ BusinessWorld Online ]
DAVAO CITY -- Cesareo Villa-Abrille Development Corp. will launch in September a 120-unit residential project, the first of several property developments being planned by the new company.
Lawyer Leoncio P. Villa-Abrille, in an interview with BusinessWorld, said the family has decided to utilize about three hectares of idle land in prime areas amid a bullish Davao economy.
“Davao is already saturated with condominiums but on the business side, especially when it comes to convention centers, everybody wants to come here. The influx of investors and visitors here is unbelievable,” Mr. Villa-Abrille said.
The University Park Suites, due to open in two months, is located near the Ateneo de Davao University. It will have dormitory-type units and a four-storey hotel and is targeted at students and professionals.
“This is our first serious development and we will open it the soonest,” said Mr. Villa-Abrille, adding that other projects will be pursued later.
Next in line is a low- or medium-rise multi-use commercial project and a hotel in a more than one-hectare property in Acacia Street, which is at the center of the city.
Mr. Villa-Abrille said negotiations with informal settlers currently occupying 70 structures within the property are ongoing. -- Maya M. Padillo