DAMOSA Land Incorporated, property development arm of homegrown Anflo Group of Companies, is bent to complete its first vertical project in Davao City in five years.
In fact, massive land preparation is now on-going within the 2.7-hectare property on Km. 11 in Sasa where the six-tower mixed-use development project called Seawind is set to rise.
The P2 billion condominium complex, spruced up by a two-storey commercial complex, is solely developed by the Floireindo-owned Damosa Land.
"In terms of our internal target for the project, we are in good shape," DLI vice president Cary Lagdameo assured in an interview in yesterday's blessing of the company's Customer Lounge and Showroom at the newly-refurbished Damosa Market Basket in Lanang.
The event was also attended by top executives of Anflo Group, including Antonio R. Floirend Jr., Anflo Group chair; Alexader N. Valoria, president and CEO; Ricardo R. Floirendo, senior vice president; Oscar V. Grapa, chief financial officer, and Edgardo O. Villaver, DLI vice president for Commercial and Leasing.
Lagdameo said the processing of the project's building permit is being fasttracked to ensure it is completed on time.
"We are still in the process of acquiring our building permit. Once we get that, we will start the construction of the first tower," he said.
Lagdameo said they initially set the construction of the first tower in March this year, but was stalled due to delay in the processing of the needed pemits.
"That's understandable naman. We know that permitting process will really take a while," he explained, as he expressed confidence "everything is still on track" for Seawind.
"In the next few months, we can start laying the foundation for the first tower," he vowed.
In fact, he added, they are pushing for the target turnover of units in the first tower to homeowners by December 2016.
"Yan talaga ang target," he said.
The project's commercial component, which will be established in front of the condominium complex, is also set for completion in early 2017. Construction of the center, which will house at least 20 locators, including food chains, convenience stores and function areas, is set to start early nexct year.
"It will replace the existing commercial strip in the area. We will start its construction sometine next year para yong timing ng pag-open ng commercial complex will be very close when the first tower is completed," Lagdameo said.
"We want kase na when homeowners start coming in meron ng commercial complex that will cater to their needs," he added.
As this developed, Lagdameo is also optimistic that all six towers and the commercial component of the project are completed by 2020.
"We want to build up everything within the next five to six years. We will build Tower 1 first, when that’s completed we will go with Tower 2 depending on how the market is doing," he said.
Lagdameo said they will consider to simultaneously construct Tower 1 and 2 "depending on sales pick up."
But he was quick to add this could be possible as Tower 1 and 2 are now sold out.
Seawind's first three mid-rise condominiums are seven-storey buildings with 165 units each while the three others are eight-storey with 192 units each.
Lagdameo said they are looking at the solid middle-income segment, such as the young professionals, as their target market.
"Because we want to position Seawind as an aspirational project, we are looking at prospective buyers who are on their first job, making their way on the corporate ladder, who want to aspire to have their own residential unit. We are building this project for them" he said.
Units will have a minimum size of 37 square meters, whose prices range from P1.8 million to P2.1 million each.