Construction starts for One Oasis Davao's 5th building-A A +A
Wednesday, October 31, 2012
THE first condominium project in Mindanao and the second medium-rise building in Davao City of land developer Filinvest Land Incorporated (FLI) -- One Oasis Davao -- is nearing completion.
FLI project development officer Andy Calizo said construction works for the fifth of the six buildings of One Oasis Davao is now ongoing.
Andy Calizo said the firm invested some P400 million for the construction of Building 5 of One Oasis Davao, which is situated at Eco-West Drive in Ecoland Subdivision in Matina and composed of six medium-rise buildings of Asian tropical theme.
Calizo said Building 5 has a total of 118 units, with a total of three unit categories such as two-bedroom, one-bedroom and studio-type.
Each unit best fits the middle-class individuals but without compromising the feel of living in a condominium, according to Calizo.
The studio-type unit and the one-bedroom unit measure 22 square meters and 28 to 34 square meters, which come with a living area and a toilet kitchen, only that aside from the bigger area the one-bedroom unit has a master bedroom.
Prospect buyers can also expect a bigger area for two-bedroom unit, which measures 38 to 42 square meters and comes with an added amenities such as living area, toilet, kitchen, master bedroom and second bedroom.
A briefer of FLI said each residential unit comes with a drying cage for drying. Selected two-bedroom and one-bedroom units also come with balcony.
Calizo said the construction, which only started this year, normally takes about a year to complete. This early, several prospect buyers have signified interest to own at least a unit at the One Oasis Davao with about 40 percent had submitted letters of intent.
The fourth building of the condominium project has been sold out already and units are up for turnover to owners by December this year.
Building 4 has the most number of units compared to other infrastructures that comprise the One Oasis Davao with a total of 209 units, followed by Building 3 with 130 units, and then Buildings 1 and 2 with 120 units each. Building 6 will be composed of 171 units and a sub-basement parking for the comfort of the residents there.
"All buildings are five storeys, only that some have bigger width," Calizo said.
Many of the occupants of One Oasis Davao are coming from outside of the city or overseas Filipino workers (OFWs). Some 45 percent of the total unit owners are now residents of the condominium.
The budget for the entire development is P2 billion.
At the advent of the high-rise condominium projects of other large land developers like the Ayala Land Incorporated (ALI), FTC Group of Companies, and DMC-Urban Property Developers Incorporated (DMC-UPDI), FLI is not brushing off the idea of putting up its own in the growing metropolis, although Calizo refused to divulge their future projects.
"We're not reaching saturation yet. What we are up to now is short to medium-rise projects," he said.
Published in the Sun.Star Davao newspaper on November 01, 2012.