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.