HOMEGROWN real estate developer, Damosa Land, confirmed its optimism that 2025 will remain good for the industry, as it reported its project expansion to other areas in the Davao Region and Mindanao as a whole. In his presentation to the media recently, Ricardo "Cary" Lagdameo, Damosa Land CEO and president, said the company launched two new projects in 2024 and has existing projects such as the Bridgeport, which they had just inaugurated the first building.
"We're looking at 2025 to be a very, I guess we can say, another better year for Damosa Land," Lagdameo said.
He shared that 2024 was characterized by a lot of growth for the company, testifying that it was the year their company could "truly say we have recovered since the pandemic."
He said the company has grown 80 years from its business, and over 2023, it grew by roughly eight to 10 percent.
"So there was really a significant growth characterized by the number of projects that we had been undertaking, for instance, our Bridgeport project in Samal that performed very strong growth, very strong sales," Lagdameo shared.
In the quarter of 2024, Damosa Land launched two new projects, a real estate project in Panabo, Davao del Norte – the Agriya Gardens – in October and the Kahi Estates in Davao City in November.
The company reported that its total actual investment in Panabo City as of to date is already P3 billion.
"So looking at it to 2025, we're very optimistic and the reason for that is that we have two new projects that we launched as these will continue to be selling out and we continue to be constructing these and have existing projects such as Bridgeport," he said.
Just recently, Damosa Land announced the completion of Bridgeport's Building A (Azure) and topped off Building B (Sapphire), both ahead of schedule.
The firm reported that its total actual investment for Bridgeport as of to date is already P750 million.
Lagdameo also shared that Damosa Land's office spaces continue to operate at a high occupancy rate of 95 percent as another BPO company intends to locate at Damosa Land IT Park.
"A company called Cloudstaff will be locating their new office here, that brings up the number of BPOs to Damosa Land IT park," he said.
A Thailand company that deals with coconut product manufacturing will have its first office in the Philippines, at Damosa Land's Agro Industrial Estate in Panabo City. Both companies have already signed the memorandum of agreement (MoA) recently, and the Thai-based company, Thai Coconut Public Company Limited (CoCoCo), has already made a substantial investment of around 430 million Baht, or around P738 million, and has secured a 25-year land lease agreement at AIE, where the facility is expected to be operational next year.
Lagdameo also revealed that Damosa Land's first condotel, which will be in partnership with Phinma Hospitality, is eyed for launching in the third quarter of this year.
"So we are seeing a stronger 2025 compared to 2024... I would like to think that real estate continues to be alive and kicking here in Davao Region," he said.
Meanwhile, Damosa Land reported that its total development cost for 2025 reached P850 million and the percentage of internally generated funds for 2025 is 20 percent. CEA
