The Vice-President of Damosa Land said on Thursday the year 2018 is shaping up as a “critical but exciting year” for the region’s vibrant economy considering the interest it generates.
“As we grow in step with the competition, we are positive that the market this year will be able to bring in more investments,” said Ricardo Lagdameo, Damosa Land vice-president.
He said that despite the implementation of Martial Law, “there is appetite for development and there is uptrend in numbers.”
He conceded that Martial Law has slightly affected the market but the economy has been on the rebound since. Interest continues to be high from foreign investors.
He said that as proof, the last quarter of 2017 proved a surprise with the visit of foreign business persons to include Japanese, Chinese, South Koreans and from other nationalities.
He said the market is wide open not only in agri-business but also in tourism, manufacturing, real estate, BPOs and other services.
Damosa Land has plowed over P2billion pesos in residential and condominium development that are either ongoing or completed in some phases.
Leading the list is the six-tower Seawind condominium project, worth more than P1Billion, that has already completed three towers ready for occupation.
Lagdameo said some condominium unit owners have already moved in, and it was a surprise to learn that 60% came from the city itself.
The market, he said, has attracted takers from the upper income bracket, especially couples with a combined earning of P80 to P120, 000 monthly.
Its Damosa Fairlane residential project is 80% complete in so far as its 1st and 2nd phases of construction is concerned. Phase 3 has been completed and will start construction of houses.
The 63-hectare Anflo industrial estate in Panabo City has seen its first locator, PhilDutch Polymer, reporting its first export shipment. It is looking forward to lure more foreign companies to locate in the eco-zone this year.
Development on the 88-hectare Agriya township project, billed to be the first agri-tourism city in Asia is on course. This too has provided room for residential and condominium development in addition to its main features.
On Samal Island, Damosa has been looking forward to its Bridgeport project as a seashore township fronting the gulf and the city of Davao. Its features include a resort, hotel, condominium, commercial and dining areas and a marina that can accommodate 20 boats at a time.
It is described a home away from home just within easy reach of Davao City.
“This an exciting time for us and as we grow in step with the condition, we are optimistic that this will be an interesting year for business,” summed up Lagdameo.