Wednesday July 18, 2018

Firm to develop riverside project in Matina

THE Yuson Excellence Soberano (YES) Joint Venture eyes to start with their riverside mixed-use development project immediately after the construction of the Mesatierra Garden Residences.

Yuson Commercial Investments president and CEO Frederick Yuson said after about 36 months of construction of the Mesatierra Garden Residences, they plan to start with the development of their riverside property near Ateneo de Davao High School.

The 2-hectare property will have a commercial component, hotel, and four residential condominium buildings.

“We’re signing with Ascott Residences and Condominium development, probably next month, for a condotel hotel concept which will make up the 3 to 4 residential buildings,” Yuson said adding they are already on the finalization stages with Ascott.

According to Cebu Landmasters, Inc. (CLI) president and CEO Jose Soberano III, they are going to cater to business men who are going to visit the city for conferences or similar affairs.

He said the commercial component, hotel, and the residential components will be done simultaneously in two phases. The first phase is estimated to cost around P2 billion which includes the first residential building. The three others will follow on the second phase.

Other developments expected from YES Joint Venture is the Davao Gulf Township that will be converted into a business park. The 22-hectare property will be composed of hotels, schools, retail component, residential, a mall, and a business process outsourcing (BPO) office spaces.

Another of property in Times Beach, which is about 4 hectares, will be developed into another mixed-use property.

“We’re still contemplating what’s the best thing for that. Maybe an events center, maybe a residential component, or just a food complex. Everything is in the planning stage. We haven’t gone through the budgeting yet, we’re still on the conceptual stages,” Yuson said.