AFTER more than a year of selling condominium units, the first phase of One Lakeshore Drive in Lanang, Davao City, a township project of Suntrust Properties Inc. is already sold out reaching a total of P2.1 billion in sales revenues.
One Lakeshore Drive is a 7.2-hectare residential component of the P15-billion Davao Park District (DPD), Megaworld's 11.2-hectare township project in the city.
The first phase of the property development is composed of two 21-storey towers with 354 units of studios, executive studios and one- to two-bedroom homes.
Harrison Paltogan, president of Suntrust Properties, Inc. disclosed the information last Thursday during the property developer’s launching and press conference of its newest project in Mindanao, the Suntrust Palm City in Tagum City, Davao del Norte emphasizing that Davao’s market response to One Lakeshore Drive is very overwhelming.
“We are surprised by the response of Davao market, the sales is performing a way so good, and we are positive that it will continue with the next two towers and even the other cluster of the property,” he said.
He added that they target to turn over the units to the buyers within five years.
In a report, Suntrust plans to start the construction of the first two towers next year.
Leonora P. Gutierrez, assistant vice president of Suntrust’s Davao Branch operations told reporters that they are now selling the third and fourth tower and as of November 26, the two towers are already 40 percent sold.
“The third and fourth tower is already 40 percent sold,” Gutierrez said adding that they are eyeing to fully sell the towers within the first quarter of next year.
Paltongan said that after the first four tower, they will immediately offer another cluster which will be composed of four towers.
Built around the concept of "live, work, learn, and play," unit owners will not just own a condo unit but also an entire township.
The master-planned 11.2-hectare Davao Park District, which One Lakeshore Drive is part, will offer an eco-tourism project with its 8,000-square-meter man-made lake formed by a natural spring, various resort style amenities, fine dining restaurants, school, lifestyle mall and Davao Finance Center, a 15-storey building for offices.
Suntrust intended some pockets of land, reserved for future developments.
Potential home dwellers will have a glimpse of One Lakeshore Drive through its showroom at Locsin Bldg., C.M. Recto St.
The project’s HLURB TLTS No. is SMR-15-003.