DEVELOPMENT projects have continued to thrive in Davao City.
Following the signing of the Joint Venture Agreement between Cebu Landmasters, Inc. and homegrown Yuson Commercial Investments, Inc. yesterday, a total of three development projects are up for construction, all are expected to change the city's landscape.
Cebu Landmasters, Inc., a Cebu-based developer. is set to develop the E. Jacinto Mid-Market Condominium, Riverside Mixed-Use Project on McArthur Highway and Times Beach project in Matina, Davao City.
Jose Soberano III, chair and chief executive officer (CEO) of Cebu Landmasters, told reporters in a press briefing Thursday after the signing ceremony at the White House Fusion Cuisine & Wine Lounge in Davao City that this is its very first venture in the city.
“We are very bullish about Davao City as our next area of expansion, we are targeting to start our first project which will be the E. Jacinto Mid-Market Condominium by 2017, by that we hope we can already do the groundbreaking within the first quarter of next year,” he said.
He added that they are very excited and honored to be working with the heirs of the son of Davao for all their projects in the city.
Yuson Commercial Investments is under the prominent Villa-Abrille clan in Davao City.
As to their partnership, Cebu Landmasters will be using and developing the land owned by the Yuson’s.
Jose Franco Soberano, senior vice president and chief operating officer of Cebu Landmasters, said they are ready to conquer the Davao market bringing with them its hospitable and quality services and green architecture.
Frederick Yuson, president and CEO of Yuson Commercial, for his part said that Davao will surely benefit with the entry of the Cebu-based developer.
The E. Jacinto Mid-Market Condominium
This project is a 15-storey structure with two buildings.
Soberano said in an interview that the mid-rise condominium project is the priority project among its three developments in Davao City.
“For the three projects we have here, this one (E. Jacinto Mid-Market Condominium) is so far a “go” project,” he said adding that the two other projects are still concepts.
In its briefer, the developer described the condominium project will offer an affordable pricing scheme for the mid-market. It has a premium condominium concept similar to Cebu Landmasters’ Mesaverte Residences in Cagayan de Oro, an ongoing project that is 85 percent sold and Midori Residences in Cebu City.
Riverside Mixed-Use Project
It will be a 22-storey building rising in a 1.9 hectare (ha) land area.
It will feature BPO offices, residential condo, serviced residences (condotel) and retail commercial buildings.
Times Beach project
This four-hectare project in Matina will be the city’s next lifestyle mixed-use destination. It will have an event center with over 3,000 seats capacity.
“This will definitely a new exciting addition to Davao’s lifestyle scene, it will be a perfect leisure destination of the families,” Soberano III said.
The masterplan of the Riverside and Times Beach properties will be designed by globally renowned design consultancy firm, the Callison RTKL.
City Councilor April Marie Dayap, representing Davao City Mayor Sara Duterte-Carpio said, that the city of Davao is more than glad to be chosen as the Cebu-based developers’ investment destination.
“Thank you for entrusting and investing with us, we will surely be a partner of growth in the city,” Dayap said quoting the lady mayor.
Meanwhile, Ivan Cortez, head of the City Planning and Development Office (CPDO), who is also present in the signing ceremony said that they have to sit down with the developers of this three projects to finalize and adjust things for the realization of the developments.
“I see no problem with the condominium and the Riverside project, however I have some concerns with the Times Beach project as there are also priority projects set to be developed in that area specifically the reclamation project by the Mega Harbour,” he said.
The developers then agreed and vowed to sit down with the city officials and said they are willing to comply with the standards and regulations set by the city. (ASP)