Vivaldi Residences Davao (VRD), the first project of Euro Towers outside Metro Manila, is now structurally 100 percent complete and the developer is eyeing to turn over units in the fourth quarter of 2020.
Grade de Leon, head of sales, told media after a walkthrough last Friday they will turn over the units by batches.
“The start of physical turnover to the buyers is by batches. Usually we turn over the lowest floor and we go up. We cannot say how many units because we have an accounts management department that handles all the clients who are qualified to be turned over. Even if you are at the lower floor pero you are not qualified for turnover, we will not turn over the unit due to documents concerned. For the unit to be turned over to the buyer, the buyer should have paid the 20 percent down payment,” de Leon said.
The 36-storey Vivaldi Residences Davao houses 883 residential units of studio, one-bedroom, and two-bedroom.
According to de Leon currently the project is 80 percent sold and now have 105 units left that includes 98 residential units, two units of parking and five units storage.
“Ang goal namin is to have it sold out by end of the year. Based on present inventory, units available cover from the lower to up floor,” she added.
The profile of the buyers are the middle income market up to up B and A market and has buyers coming from Mindanao including General Santos City and Koronadal City, as well as OFWs working in various parts of the world. The common reason of buying is the project is near a school.
“We have a mix market. They are not just end-users but also investors. We have international clients as well. Among common reasons for investing is we are very near at the Ateneo de Davao University. Most of the parents they wanted their children to study at AdDU. Mga proximal areas like Gensan and Cotabato ang gusto nila mag-aral sa ADDU ang kanilang mga anak kaya bumili sila ng units. Our end-users are also locals from Davao,” she said.
In terms of architectural design (interior), the project is 30 percent complete. The project is targeted to be completed middle of 2021. It also topped-off mid of last year at the 35th floor.
The developer also ensures that the project is structurally stable after the series of earthquakes last year. VRD could withstand earthquakes with magnitudes 7.0 to 8.4. VRD’s structural designers used higher than normal safety factors in their design computations making the developer confident that VRD exceeds the National Structural Code of the Philippines (NSCP) standards.
After three post-earthquake assessment inspections by in-house engineers, verified by a third party construction manager, Jose Aliling Construction Management Inc. along with structural consultant, A.C. Ong Consulting Inc., VRD has been confirmed to be structurally safe and stable.
While there have been cracks observed during the post-earthquake inspections, they are assessed to be very minor having absolutely no effect on the structural integrity and stability of the project.
“Every earthquake our structural engineers do inspections and they certified us. If there are cracks, those were only hairline cracks and in terms of structural integrity we don’t have major damages,” de Leon said.
Aside from VRD being designed to exceed the NSCP standards, the structural design was subjected to an independent third party review to confirm and verify the results. The final design called for the densest ratio of bored piles extending up to 60 meters (same height as a 20 storey building) below ground level, the deepest foundation system in Mindanao.
