LOCAL landowners in Davao City are currently taking hold of their properties, waiting for the full development of the establishments around them while others are going into joint ventures or long-term leasing just so they wouldn’t need to sell their properties.
Prime Philippines Capital Markets and Investment (PPCMP) consultancy firm is currently scouting for land developers who are to invest in land properties in Matina, Lanang, Bajada, Diversion road area, and Mintal as joint ventures or as long-term leasing.
According to PPCMP assistant manager Jen Namis for business development Jen Namis, due to sentimental purposes, some of their client landowners had been very vocal about wanting to keep their lands properties. Because of this instead of selling, the landowners just resort to developing their properties through joint ventures or long-term lease in order to keep it for the next generations of their family.
In Matina, particularly in Ecoland area, the firm is looking into developers for a 4-hectare land property, 10 hectares in Mintal, 3 different properties in Bajada, and a 1.4-hectare land property near the Diversion road, and a 400,000 square meter land in Lanang.
“If we look at it generally, these locations are scattered all over the city. That’s why we can safely say that there is an upcoming trend among landowners wherein they know that there are developments coming up, they know that Davao is on its height in terms of development, so they tend to take hold of their properties. They usually wait for their properties to be ‘ripe’,” said PPCMP associate Raphil Saguan.
“Nowadays, we observed that landowners are more willing to build than to sell,” added Namis added.
Published in the SunStar Davao newspaper on September 28, 2017.
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