FIVE out of the six License to Sell (LTS) permits issued by the Housing and Land Use Regulatory Board Southern Mindanao Region (HLURB-SMR) last year were for Filinvest Land Inc.
Condominium developments in Davao City continue to flourish with having issued a total of six LTS permits for year 2017.
Two LTS permits for the Veranda Resort Condo buildings 1 and 2 were issued by HLURB-SMR to Filinvest Land Inc. last year for their development in Barangay San Isidro, Kaputian, Island Garden City of Samal.
Buildings 2, 3, and 4 of 8 Spatial Davao in Ma-a, Davao City, were also issued their respective LTS permits. These are developments under Filinvest Land Inc. as well.
Camella Northpoint-Bradford located at J.P. Laurel Avenue, Davao City, was also issued an LTS permit last year. This is a development registered under Communities Davao Inc.
According to HLURB-SMR Regional Director Miguel Palma Gil, most of those interested into buying condominium units do so for investment opportunities. They rent out the place on a monthly basis.
In a separate report, Prime Philippines said the martial law had minimal to no effect on the gross sales of residential condominiums in Davao City.
Their research data revealed that there was a zero to 10 percent changes in their sales except for one condominium in the poblacion area that experienced 10 to 25 percent decrease in their June to July 2017 sales. However, this same condominium company had an increase sales performance of about 10 to 25 percent by August to December 2017.
This number of LTS permits for condominium developments remained as compared to 2016 with the same number as well. In 2016, developments issued LTS permits include Soto Grande Residencesa (Sta. Lucia Land, Inc.), Dusit Thani Residences Davao (Lanang Realty Development Corporation), Verdon Parc Bldg. 4 - Maurin, Verdon Parc Bldg. 3 - Trevans, and Verdon Parc Bldg. 2 - Belvedere (all by DMCI Project Developers, Inc.), and Patio Suites - Tower 1 (Accendo Commercial Corporation).