Lapandy-Northbank partnership a big boost to Davao's economy-A A +A
Wednesday, October 3, 2012
THE City Government of Davao lauded the initiative of two big companies -- Lapanday Properties Philippines Inc. (LPPI) and Northbank Holdings -- to further develop what is known as the Mindanao's biggest township community in Buhangin.
Christian Cambaya, Davao Investment Promotion Center (DCIPC) investment and promotion staff, said they welcome the partnership of the two investors as this will boost the city's economy.
"If this initiative will pursue, it will create more opportunities," Cambaya told Sun.Star Davao.
The partnership is expected to fill in the areas in Davao City that need more developments, most especially in terms of infrastructures. In addition, this will again further boost the workforce of the city.
Cambaya said he believes the new development for township project Ciudades will have greater possibility to prosper, as developers will not put their investments at stake for projects that will have lesser chance to prosper.
Just last month, Northbank Holdings and LPPI forged partnership through a memorandum of agreement (MOA) at the Marco Polo Hotel Davao for the setting up of Commercio Marquella, a 5.7-hectare land for commercial market and transport hub.
The transport hub will cater mostly to residents within and the surrounding areas in Tigatto while the commercial market will provide residents all they need of a market.
Northbank Holdings president Simeon Marfori II said Commercio Marquella is not a one-day project. The project will depend on how fast is the growth of the communities within the 200-hectare master planned mixed-use township.
Some other housing projects present in the vast township are Las Palmas Verdes, Altea Homes, Soller of Sta Lucia and Nizanta of Robinson's Homes.
LPPI president Tomas Lorenzo earlier said Ciudades is not a project exclusive only to one real property developer but rather comprised of several developers that will complete the ideal community in few years time as planned.
At least seven locators have already confirmed to put up businesses in the first phase of Commercio Marquella, some of whom will be expected to materialize plans in November.
Some of these businesses, Marfori said, are an arcade, small market, mini terminal, and gasoline station. In fact, they will introduce a weekend market in all weekends beginning December, this year.
Ciudades is envisioned to bring in several communities to to form a whole new city and as an extension as well of the city's business district to ease congestion.
Published in the Sun.Star Davao newspaper on October 03, 2012.