A STAYCATION-THEMED mixed-use condominium development will soon rise in a 2.8 hectare property in Maa, Davao City.
Davao-based developer Crisron Holiday Builders, Inc. a venture partner of the Yaps and Bangayans, is currently working on the first of the four 15-story towers of the Legacy Leisure Residences.
Legacy Leisure Residences vice-president for sales and marketing Wesley Bangayan said the project envisions to evoke a staycation feel, thus allocating a bigger space for its amenities.
Bangayan said around 70 percent of the property will be intended for its facilities and open spaces while the remaining 30 percent will be for the residential building.
Among its amenities includes an Olympic size or 50 meters by 8 meters pool, a water spray park, tennis and basketball courts, jogging tracks, among others.
“It is the first in Davao or maybe in the Philippines that is more of a resort stay condominiums. It is your home away from home [where] you can relax from your busy life. It is still inside Davao,” Crisron Holiday Builders, Inc. vice president Clark Yap said.
The group is on the initial phases of Tower 2 with 429 units.
“The majority of our units are one-bedroom units at an average of 36 square meters (sqm) and around 50 two-bedroom units at an average of about 76 sqm,” Bangayan said.
“Our target are couples that are just starting up and families. It is also up for the retirees kay usually mga OFWs (overseas Filipino workers), mas easier kasi to have a condo unit and it is easy to maintain,” he added.
Yap said about 11 percent of the Tower 2 is already sold.
“[The buyers are usually] young and old couples but most of them are from Davao and Mindanao,” he said.
The company targets to complete the Tower 2 and the amenities in about three to four years.
He said about P500 million will be poured in for the first tower but the company is earmarking about P4 billion for the whole project.
Yap said Towers 3 and 4 will be constructed on the second phase of the development and Tower 1 for the final phase.
He added commercial spaces will also be up for lease, primary catering to the needs of the unit owners.
He said the company targets to implement the master plan within eight years.
The company is an undertaking of the Cresencio Yap and Ronald Bangayan, who owns businesses in retail, real estate, transportation, and tourism-related establishments.
Bangayan said they found that real estate continued to be a viable investment in the city.
“With regards to real estate, consistent ang real estate. If you notice the prices of properties always go up. Rarely siya nagababa,” he said.
“It is a good investment kasi especially with our president being a Dabawenyo, it puts Davao City on the radar of everybody else,” he added.
He said the project is so far the biggest project of the Yaps and the Bangayans.