Vista Land unit eyes more Davao sites
February 9, 2012 § Leave a comment
DAVAO CITY —Camella communities, a unit of Vista Land Lifescapes Inc., is scouting for more lots in this city and is now negotiating with landowners an official said.
“Our plan is to develop projects both in the southern and northern parts of the city,” Marion Niño B. Escalicas, manager for Camella Communities Mindanao projects said.
“We want to start these projects as soon as possible,” Mr. Escalicas said pointing out that two ongoing a projects in this city—Ceritos residential subdivision in Mintal district and the Northpoint condominium in Bajada district — are already 60% sold.
Cerritos a 15-hectare project will feature the group’s commercial center brand Star Mall.
Mr. Escalicas said the company is planning to build the mall this year.
Mintal district, the host site, is Davao Region’s university town with the campuses of the University of the Philippines-Mindanao, Philippines Science High School, University of Mindanao University of Southern Philippines and other private tertiary institutions located there.
The Northpoint project, just two kilometers from downtown, meanwhile has seen three of the targeted five condominium structures already built. The fourth building is up for construction this year.
“We are bullish on the market here,” said Mr. Escalicas
The company’s plan to put up more projects here comes amid the continued entry of other big companies like Ayala Land Inc. and SM Development Corp.
Ayala’s Abreeza Mall, a joint venture with Anflo Management and Investment Corp., opened in middle of last year while SM’s second mall SM Davao North is expected to open in the first half of the year.
Mr. Escalicas said overseas Filipinos and the rich buyers from neighboring provinces and cities have continued to buy properties in the city because of its reputation as a safe investment haven.
Davao City is one of the biggest urban centers in the country. The city has a population of about 1.5 million while its neighbors, Panabo City, Samal City and Sta. Cruz have a combined population of over 600,000. — C.Q. Francisco
BUSINESS WORLD / FEB. 9, 2012