Posted on February 08, 2016
07:53:00 PM [ bworldonline.com ]
By Carmelito Q. Francisco,
Correspondent
DAVAO CITY -- Leading
homebuilder Vista Land and Lifescapes is spending P1 billion for the initial
development of its first township project here, combining its flagship Camella
brand with its low-cost Lumina Homes.
Within the first quarter,
the company is set to start land preparation and common infrastructure work on
the 100-hectare (ha) property located in Toril District in the southern side of
the city.
“We hope that our entry in
Toril will spur more the developments in the area,” Marlon Nino B. Escalicas,
Camella Communities manager for Southern Mindanao, told BusinessWorld.
Part of the property is
situated along the national highway, but a bigger portion, where the housing
area will be located, leads to a mountainous terrain.
The project, which will
also have commercial components, will be near a planned new circumferential
road.
“This is also in consonance
with our vision for dispersed development,” Mr. Escalicas added.
The local government has
been luring investors to look at prospects in the city’s emerging growth areas
such as Toril, where investment incentives have also been sweetened.
Ivan C. Cortez, chief of
the Davao City Investment Promotion Center, earlier said entry of housing
developers in areas outside the city proper will help other locators consider
the potential of these sites.
“Housing projects serve as
a magnet for other developments,” said Mr. Cortez.
Mr. Escalicas said
combining the socialized Lumina Homes with the Camella Community is expected to
help to expand Vista Land’s reach in the Davao market.
The final plan is still
being finalized, he added, but Camella will initially develop 20 ha of the
township.
NORTH PROJECT
Meanwhile, the company is
also expanding its 27-ha housing project in Communal, located in the northern
side of the city and close to the Davao International Airport.
Mr. Escalicas said the
company has decided to add another six hectares, as about 90% of the first
1,100 lots have already been sold.
“We have a good reception
of our project in that area,” he said.
Marketing Manager for
subdivisions Anna Mae M. dela Peña said the company is also introducing their
Grande brand in the project, following market demand.
Under the Grande brand,
housing units with a floor area of 110 square meters are priced at about P5
million.
Other units within the
Communal portfolio are Lessandra, sold between P750,000 and P1.7 million;
Camella, P1.7 and P3.5 million; Crown, starts at P4 million; and Luxuria, P7
million.
____________________________________________________________