Cebu’s leading developer Cebu Landmasters Inc (CLI) said it is pouring P10 billion worth of projects into Davao City next year.
CLI through a joint venture with Davao’s landed Villa-Abrille family has embarked on projects in the city which include the development of the 22-hectare Davao Global Township located in Matina District, the two-tower MesaTierra Garden Residences in Arellano St., and the P2.6 billion mixed-use development The Paragon Davao.
Jose Franco Soberano, chief operating officer of Cebu Landmasters told media during the blessing of The Paragon Davao showroom that they will be investing P10 billion next year for their projects in Davao City.
The investment covers the second tower of The Paragon, the Davao Global Township (DGT), the Casa Mira Towers in the Lyceum Township and for a property recently acquired in Magtuod, Ma-a.
“In DGT by second half of next year we will see roads there which will help the traffic situation in Davao,” Soberano said of the DGT where land development is now in full swing.
Soberano also mentioned that Citadines Paragon Davao is now 90 percent sold out. The 250-unit Citadines Paragon Davao is part of an integrated development that also comprises retail, office and event spaces.
Soberano said the fast-selling project is an indication how the CLI brand is embraced by the market.
“CLI has a very good partner in Yuson Tan and Villa- Abrille families. This is one of the best areas in Davao, it is near the school’s and near the conveniences so it would still address the need of the people living where they work and study,” he said.
The Paragon Davao is a P2. 6 billion master-planned mixed-use development expected to be completed in 2022 and envisioned to be Davao City’s lifestyle destination.
“The Paragon is almost sold out. It has two towers out of seven towers in total in a three hectares property and a lot of things happen in there,” said Frederick Yuson, president of YHES ((Yuson Huang Excellence Soberano) Inc., a joint venture with the Soberanos of Cebu Landmasters and the Villa-Abrille Family.
The Phase 1 of The Paragon Davao development includes the 26-storey residential condominium One Paragon Place, the 263-room hotel and serviced residences Citadines Paragon Davao to be managed by The Ascott Limited, one of the world’s leading lodging owner-operators; The Paragon Davao Convention Center, and The Paragon Davao Lifestyle Mall.
Soberano said through The Paragon Davao it is also their aim to develop a unique retail strip which is upscale yet homegrown and accessible to all.
“We are following a retail concept in Los Angeles that is not a very busy mall but hayahay nga mall,” he said.
Yuson said part of the amenities is a cultural hub museum as their family’s way of giving back to the city of Davao.
The Paragon Davao is CLI’s fourth mixed-use property in Visayas and Mindanao.
Meanwhile, the 275-square meter showroom, located at the fourth floor of the Edge Building in Arellano Street, showcases modern tropical and coastal themed model studio and one-bedroom units of One Paragon Place.
“Davao City is our second biggest market outside Cebu City. It is like our second home because of a lot of opportunities here and demand and we feel like very close to Davao and our partners are homegrown,” Soberano said.