Chamber of Real Estate Builders Association (CREBA) Davao Chapter president Jarvie Harlem Gantalao said there is no oversupply of condominium units in Davao City as investors continue to demand for more condo properties.
“No oversupply of condominiums because there are indicators na condominium developers are keep on launching projects in Davao City and last year ang pinakamalaking branch ng national developers, when it comes to sales ay galing sa Davao. So meaning there are more investors buying condo units in Davao City that is why developers continue to supply more condo properties in Davao City,” Gantalao said.
Gantalao said the real estate landscape in Davao City is vibrant with developments reaching as far as Tugbok District and Toril, wherein there are thriving communities that continue to rise.
“It extends as far as Mintal there is a condominium in Mintal at marami pa rin bumibili. So, marami talaga ang gustong mag settle in Davao City given that we have a very low cost of living, quality of life, life balance, and safety and security. Buyers keep on investing in condominium properties in Davao City and that is why the developers keep on launching new products. So, wala pang oversupply as of today,” Gantalao said.
Meanwhile, CREBA is setting its focus on tourism and hospitality sector. The group believes that Davao City’s tourism potential drives demand for hospitality projects such as hotels, resorts, and condotels.
“We are focusing on tourism and hospitality kasi maraming OFWs na gustong bumalik dito sa Davao, gusto nila dito maglagay ng investment pero pag tinatanong nila kung ano ang tourism and hospitality, sad to say nabibilang lang sa ating mga daliri ang entertainment dito sa ating lugar dahil I think we failed to also called upon the tourism sector to invest in Davao more,” CREBA Davao Chapter Chairman Diosdado Mahipus Sr. said.
Mahipus explained that part of the economic development concerns is the establishment of entertainment and hospitality facilities.
“When you talk of the entertainment and hospitality sector this would also include the hotels, restaurants, and the gaming facilities,” he said.
Mahipus said these would attract tourists to come and stay in Davao City, especially the retirees.
“Kasi ang ating products cater more on those that can already afford to buy and when we talk about the sector karamihan diyan mga retirees, yung may pera na, may pension na and they want to buy their properties. Ito yung kulang sa Davao for the retirees to be attracted sa Davao dahil meron silang makawilihan at mapuntahan during weekdays and weekends. I am not encouraging casinos pero this is really how life is all about,” he said.
Gantalao said Davao’s real estate market presents vast growth opportunities, driven by infrastructure development, sustainable practices, and affordable housing.
“We encourage stakeholders to capitalize on these prospects, contributing to the city’s economic prosperity,” Gantalao said.
