CEBU-BASED property developer Cebu Landmasters Inc. (CLI) has recorded a strong reservation sales by selling out all three towers of the first residential development in Davao Global Township (DGT) in four days, generating a record P4.068 billion in sales.
The first among many launches in 2022, The East Village at DGT is the first residential development in the township with over 2,000 residential unit offerings spread across the six-tower vertical village.
The newly launched and sold-out three towers with a total of 1,087 units will break ground in the second quarter of 2022 and is scheduled for completion in the third quarter of 2026, CLI told the local bourse, Wednesday, March 23, 2022.
The East Village and DGT are both projects of YHEST Realty Development Corp., CLI’s joint venture with the Yuson, Huang and Tan families belonging to the established Villa-Abrile clan of Davao.
The six-tower vertical East Village masterplan offers connectivity, sustainability and accessibility. Its residential units are a mix of studio, one-bedroom and two-bedroom units with floor areas from 22.3 square meters (sq.m) to 75 sq.m with prices ranging from P118,800 per sq.m. to P150,000 per sq.m. for the first three towers.
The East Village along with a lifestyle mall and cultural center is part of Phase 1 of the 22 hectare DGT, the first and largest premier central business district of Davao City. The township’s land development which includes utilities and road network is nearing 100 percent completion.
Besides DGT, CLI is also developing other townships including the 100-hectare Minglanilla Techno Techno Business Park (Ming-Mori) in Cebu, the 14-hectare Manresa Town in Cagayan de Oro, and more future estate projects in Cebu and Bacolod.
Last March 15, CLI declared a regular cash dividend of P0.112 per share. The board also declared an additional special cash dividend of P0.038 per share to shareholders of record on April 22, 2022 because of the company’s robust sales and solid financial performance. Payment date will be on May 17, 2022.