Davao City has been gaining a lot of positive feedback from both local and international media not only because of the presidential win of its former mayor, but also because of its good economic performance as evident in the growing interest of investors in the region. Online property portal Lamudi Philippines has also identified Davao City as Mindanao’s real estate hotspot. The local government’s effort to intensify security and stability in the city has brought forth a surge in the city’s property listings.
The robust real estate market of Davao is pronounced as major property developers in the country ventured in various land development projects in the city. For one, Ayala Land Inc., one of the country’s largest property developers, has its Abreeza project along J.P. Laurel Avenue. It is a 10-hectare master-planned, mixed-use project consisting of a mall, a hotel, a seven-story office building, and two residential condominiums (Abreeza Place and Abreeza Residences) developed by Alveo Land, an Ayala Land subsidiary.
Avida Towers Davao found along C.M. Recto Avenue is also worth mentioning. At present, Ayala Land Inc. will be starting the 25-hectare Azuela Cove in Davao. Azuela Cove is a joint venture between Ayala Land and Alcantara Group. It is envisioned t be Davao’s prime waterside lifestyle, business, and residential district.
Andrew Tan’s property giant, Megaworld Corporation, has also dipped its hands on the city with the announcement of building One Republic Plaza and Emperador House within the 11-hectare Davao Park District in Lanang. One Republic Plaza is a 10-story office tower, while Emperador House is a themed six-story tower featuring European-inspired architecture.
According to Business World Online, Megaworld is currently building the Php1.2 billion, 15-story Davao Finance Center near the main entrance of the Davao Park District. And aside from expanding its office portfolio in the city, Megaworld is also building a retail row and shop houses around Davao Park District. It also plans to construct a school and a hospital within the township.
FTC Group, a Davao-based real estate firm, is currently constructing a 33-story AEON Towers, expected to be Davao’s tallest structure. Filinvest Land, Robinsons Land, DMCI Homes, and Vista Land are also up to launch housing projects around the city.
Cagayan de Oro
Touted as an emerging business leader in Northern Mindanao, Cagayan de Oro (CDO) continues to attract investors with its booming BPO sector. The National Economic and Development Authority (NEDA) affirms that CDO’s BPO sector has much room for growth with its five IT parks and two IT buildings. Economists and business leaders all agreed that the city has all the potential to become Mindanao’s new business and financial center. NEDA also takes pride of the city’s competent human capital. Four of the biggest universities in Mindanao are situated in CDO, including Xavier University-Ateneo de Cagayan de Oro, Liceo University, Capitol University, and Mindanao University of Science and Technology. The BPO sector takes advantage of the city’s rich source of human capital and develops this resource even further to help optimize the young educated population as a prime asset.
Local business monitor CDODev cites CDO to have fast property growth in 2017. CDODev highlighted two key projects that are scheduled to be completed this year like the SM CDO Downtown Premier developed by SM Prime Holdings Inc. Centrally located along CM Recto Avenue, SM CDO Downtown Premier is the first premier mall development in Cagayan de Oro city and will open this July. The other one is the Seven Seas Water Park and Resort, a world-class theme park located in Barra, Opol. A new hotel project is also in sight in Cagayan de Oro this year. According to Manila Times, the New Dawn Pension Plus is expected to top off sometime this month or in February, and should be ready for business near year-end.
Significant projects are also in progress within the city proper. Ayala Land’s Avida Aspire Tower 1, a 29-story condominium project, is set to become Cagayan De Oro’s tallest building when it reach completion sometime this year. In downtown Limketkai Center, The Loop North Tower, the first condominium development in the commercial center, is also expected to be completed this year.
From the outskirts of the city, major projects are already lined up. Contempo Property Holdings Inc. (CPHI) announced that it will launch a low-cost housing brand Sunberry Homes in CDO in 2017. Likewise, Alveo Land is preparing to start the 100-hectare mixed-use development in Tablon.
General Santos City
Top property developers in the country have risen to the occasion and have marked their territories in the grounds of GenSan. For one, Agan Land Corporation, the leading and most active real estate developer in SOCCSKSARGEN area (Region IX), is currently constructing AganLand Metro near Notre Dame University and Robinson’s Mall. Bria Homes Incorporated, a sister company of Vista Land, develops Lumina General Santos that offers affordable and easy-to-own homes in Conel Road, GenSan.
Robinsons Home has also expanded outside Manila as it traversed the unchartered lands of the south with its construction of Bloomfields General Santos. Located in National Highway, GenSan, Bloomfields offers 745 residential lots that caters to professionals and executives living with an extended family or for those who want to have a second home away from the metro.
Davao, Cagayan de Oro, and General Santos City are three major urban areas in Mindanao that collectively provide most of the lifeblood of the region with its impressive growth in almost all sectors that it is not anymore surprising that major land developers in the country are heading to these cities to facilitate a construction boom. Indeed, Mindanao is at its real estate heyday—and every built structure launched on its ground is indubitably a proof of its unstoppable thriving.