HLURB issues LTS to 4 real estate firms

AS OF February this year, four real estate projects were already issued with License to Sell (LTS) permits by the Housing and Land Use Regulatory Board Southern Mindanao Region (HLURB-SMR).

In a data provided by HLURB-SMR, two economic/socialized housing development projects had been given LTS permits. One is located in Barangay Ruparan, Digos City, and is called the Citta de Oro Subdivision-Ruparan Eco Park.

It is a development by the Moderno Citihomes Development Corporation.

The other economic/socialized housing development issued permit this year was from Barangay Lamsugod, Surallah, South Cotabato, and a development registered under Rudio George Dorego. This was registered under the name Dorego Village.

HLURB-SMR Regional Director Miguel Palma Gil said those considered socialized housing are sold at P450,000 per unit at most, while the economic housing are priced at P1.7 million per unit at most.

An Open Mark housing project in Barangay Sinawilan, Digos City, under Princess Homes Realty and Developers Inc. was also issued an LTS permit this year. The project was registered as Princess Ville Subdivision. Palma Gil said Open Mark housing projects are priced for at least P1.7 million.

Florence Memorial Park in Km. 92, Barangay Magsaysay, Nabunturan, Compostela Province, was also issued LTS permit under project developer Comvaleño Land Development Corporation.

"Since I was assigned in this position in 2010, the revenue made from these residential developments had increased to about P20 million last year compared to only about P4 million in 2010. Now we are targeting to reach about P25 million this 2018," said Palma Gil.

When asked how he thinks the residential investment in Davao continues to flourish, he said it could be because of the livability and the beauty of the region.

"We're lucky enough because Davao is really a place we can be proud of," he said, citing examples as the good reputation of taxi drivers and the safety and security, which he believes are the two crucial things that urged investors to keep coming.

He said in the previous year, residential unit buyers in Davao City hail from Cagayan de Oro, Butuan, General Santos City, Cotabato, and Sultan Kudarat. Most of the buyers buy units for investment, which they rent out once turned over to them.