UNLIKE other vertical developments in the city, One Lakeshore Drive - a condominium project of Suntrust Properties Inc.- stands out as it will be constructed within a master-planned smart township development – the Davao Park District.
For the project’s investors and would-be investors, it is an exciting time as construction of the One Lakeshore Drive is in full swing which started on February 1, 2018.
“We are within our schedule and we expect that towards the end of the year, we’ll see the project already rising,” Leonora P. Gutierrez, assistant vice president of Suntrust’s regional operations said.
The project which is composed of four towers will be turned over to unit owners in two phases. The first two 19-storey towers are scheduled in 2020 while the towers 3 and 4 are eyed to be opened the following year.
Sales of the project is also performing faster than what the developer is expecting. As of July 2018, the first four towers with combined 1,250 units are almost sold out with only some 50 units left for selling.
Gutierrez shared that while buyers’ profile is mixed, majority of it are local investors from Davao Region and some parts in Mindanao.
“When condominiums are first introduced in Davao City, people are saying it will not take off because the market is not ready but to our surprise, the market here is more than ready, the Mindanao market, especially Davao region really has a purchasing power,” she added.
Amid the stiff competition in Davao’s real-estate sector, considering more Manila and Cebu-based players are coming in to build projects, Suntrust remain unfazed following its company’s good track of record and reputation of building quality and innovative properties.
One Lakeshore Drive is the first cluster of the 7.2-hectare residential component of Megaworld’s 11.2-hectare Davao Park District, a smart township development in Lanang, Davao City.
To learn more about this rising community, Suntrust will be having an Investors’ Night on July 27, 2018, 6:00 p.m. at the Park Inn by Radisson, Lanang, Davao City. Find your future home here.