Posted on December 16, 2014 10:52:00
PM [ BusinessWorld Online ]
By Maya M. Padillo, Correspondent
DAVAO CITY -- Camella Davao, a unit of
Vista Land & Lifescapes, Inc., will next year launch simultaneous projects
in the north and southern parts of Davao to increase its brand presence in the
city.
A ROW of houses at Camella Cerritos in
Davao City is shown in this photo posted on the developer’s Web site. Vista
Land & Lifescapes, Inc. said it will launch more projects in the city next
year. -- WWW.CAMELLA.COM.PH
Marlon B. Escalicas, Camella Davao
general manager, said the company is still finalizing the total investment
amount for the Davao City projects next year.
A township development covering a
170-hectare site in Toril District, located about 12 kilometers south of the
downtown area, will be the biggest development by Camella Davao next year.
“Actually this year we already started
Communal and Mintal but not as grand as we wanted them to be,” Mr. Escalicas
told BusinessWorld.
A low-cost project in the south,
called Lumina, is also in the pipeline.
In the north, the company recently
received initial approval from the city council for its residential project near
the Francisco Bangoy International Airport.
The company also sees Panacan in the
north as another growth area.
“If you want dominance in real estate
you have to have projects all at the same time in the growth areas in Davao,”
Mr. Escalicas said.
He added that former Senator Manuel B.
Villar, Jr., whose group of companies control Vista Land, wants to take
advantage of the growing real estate market in Davao City, given the influx of
investors and property investments by local migrants and overseas Filipino
workers.
“The buyers now buy property not only
to reside but also as an investment because they see the potential of the
appreciation in value,” the Davao unit’s head said.
Camella Davao is also planning to
expand to Panabo City in Davao del Norte province, located immediately north of
Davao City.
The company is also finalizing
discussions with the Marfori family of Davao for a possible joint venture
project to be launched within the first or second quarter of next year.
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