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Wednesday, July 25, 2012

New players to construct housing projects in Toril


FOUR players in the real estate industry are looking at Davao City as an area for expansion of their housing projects. But this time, they are eyeing to develop the southern part of Davao.
City Planning and Development Office (CPDO) chief Roberto Alabado said he could not yet divulge identities of these developers, except to say that they prefer to locate areas in Toril and not in the highly-urbanized business district of the city.
"These real estate firms are looking at twenty years from now," Alabado said, anticipating major developments that may take place in the southern part of the metropolis in the coming years.
Most of the major property projects will be constructed in the urban part of the city like the Ayala Land Corporation, which has Avida Towers Davao, a state-of-the-art high-rise condominium along Claro M. (CM) Recto Avenue, Davao City while the FTC Group of Companies will soon erect another technology-ready condominium along JP Laurel Avenue.
The DMC Urban Property Developers Incorporated (DMC-UPDI) is also planning to construct its own high-rise condo within the heart of the metropolis.
But these four players, according to Alabado, will be implementing their expansion plans in the southern part of Davao.
Alabado said these firms are now in the exploration stage looking at possible areas to build their respective residential projects. With these developments, Alabado said there's a possibility that this area will become Davao's secondary growth area outside the urbanized domain of the city.
Aside from the sprouting number of high-rise condominiums and hotels, more malls will also rise soon.
One of these will be constructed by homegrown supermarket Felcris.
Alabado said Felcris is planning to erect a mixed-use mall, which will also house a business center and shopping place, along the Quimpo Boulevard, fronting the Land Transportation Office (LTO) 11 office
He said part of the company's masterplan will be a hotel and a business process outsourcing (BPO) area.
Palafox Associates are the company assigned to make the design of the mixed-use mall of Felcris, according to Alabado.
Published in the Sun.Star Davao newspaper on July 25, 2012.
Link from Sunstar

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