Posted on June 08, 2016 10:31:00 PM [bworldonline.com ]
By Carmelito Q. Francisco, Correspondent
DAVAO CITY -- Committed investments in
the real estate sector here reached P2.895 billion in the first quarter, up 50%
from P1.935 billion in the same period last year, data from the Davao City
Investment Promotion Center (DCIPC) showed.
The number of building permits released
during the first three months of the year also increased 23% to 1,270.
DCPIC head Ivan C. Cortez said growth in
the property sector has been monitored since a decade ago “but it has been
growing rapidly in the last three years with some big companies putting up
their investments.”
Mr. Cortez said homegrown developers
have been aggressively expanding alongside the entry of the country’s major
real estate players in recent years.
Ricardo F. Lagdameo, vice-president of
the Davao-based Damosa Land, Inc., said the bullish sentiment was further
lifted by the election of outgoing Mayor Rodrigo R. Duterte to the presidency.
“His leadership has provided a better
business climate and I hope this can be translated in a national scale,” Mr.
Lagdameo told BusinessWorld in an interview.
Damosa Land, which has horizontal and
vertical residential projects as well as commercial developments, is
fast-tracking the completion of its first condominium venture, which has seen
good sales. The six-building Seawind, located at the northeastern side of the
city fronting the nearest tip of the Island Garden City of Samal, was
originally set to be completed by 2021.
“But because of the high demand, we are
shortening the period to 2019,” said Mr. Lagdameo.
VISTA’S DAVAO EXPANSION
The southern Mindanao cluster head of
Vista Land and Lifescapes, Inc., the country’s biggest builder, said the
company’s founder and former Senator Manuel B. Villar, Jr. gave them marching
orders to prepare for more investments in the Davao Region.
“Mr. Villar is very optimistic about
Davao City and southern Mindanao during the term of (Mr.) Duterte. He sees an
influx of investments, infrastructure, tourists and there will be a lot of
economic movements in Davao and in Mindanao and (Mr.) Villar wants to
capitalize on this situation by pouring more investments and develop more horizontal
projects,” said Marlon B. Escalicas, head of Vista Land’s Camella group in the
area.
Mr. Villar’s son, Las Piñas Rep. Mark A.
Villar, has been tapped by Mr. Duterte to head the Department of Public Works
and Highways.
“Vista Land aims to work hand in hand
with government in bringing development in the countryside, and in all parts of
the country we want us to be a partner of the progress and catalyst of change,”
Mr. Esalicas said in an interview.
“North Davao (City) is being developed
as the next district with the upcoming sports dome, Lyceum School, and it is
near the ‘Malacañang of the South.’ It’s worth expanding,” he added. -- with
Maya M. Padillo
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