DAVAO

Construction of Davao township in full swing

Screenshot from Cebu Landmasters Inc.

CEBU-BASED property developer Cebu Landmasters Inc. (CLI) is still on full swing with their projects in Davao City amid the pandemic, as it is set to incorporate a civic center in their ongoing Davao Global Township (DGT) project.

In a virtual press conference, CLI chief executive officer Jose Soberano III said the civic center aims to promote and highlight the strong history of Davao City.

He said it will include a museum designed by the renowned architect Ed Calma, who also designed the structures of The Mind Museum at the Bonifacio Global Center (BGC) in Taguig City.

"Maybe in two months' time, we will be able to present this to the city. We are about to complete this. We have really advanced the planning or even the design," he said.

Soberano said the coronavirus virus 2019 (Covid-19) pandemic has not hampered the development of their ongoing projects in the city such as The Paragon and the DGT, both are mixed-use projects.

He said they have also seen an opportunity to boost retail and residential property developments as these types of projects have continued acquiring clients amid the health crisis.

"The Phase 1 of DGT which is the completion of the land development is continuing. We did say that there is going to be a retail play and even residential condo with offices. These are all in the planning stages and by the time land development will be completed by the middle of 2021, we would be able to start some of these projects that we have said are part of Phase 1," he said.

Soberano bared that among their plans is to build mid-rise infrastructure at the 2.5 hectare rear portion of DGT.

"That is very likely to be a project that we would like to pursue immediately. The retail play is part of it. We are also talking to a few locators who want to have a long term lease on the area," he said.

The DGT is a 22-hectare mixed-use development poised to be Davao City's first premier central business district (CBD).

CLI currently has 27 real estate projects in their pipeline and 14 of them are housing and residential which will be launched within 2020.

Soberano said they will start 13 projects more for 2021 which will include hotels.

He said he is optimistic about their hospitality-based development yet cautious in its implementation, especially that these industries are badly hit by the pandemic.

"It is a guarded type of optimism moving forward because definitely, leasing might be low now or the hotel business, hospitality business is really struggling now," he said.

"But I don't think that will be the situation three to five years down the road or even earlier. By the time that will rebound very strongly in the years ahead, we should be the first one off the block to take advantage," he added.


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