With establishments, malls, offices, BPO firms, and commercial spaces mushrooming across prime locations, Davao City is cementing its position as the business hub of southern Philippines.
Let’s admit it, the popularity of former President Rodrigo Duterte and his resolve to make Davao City as the King City of the South contributed to this remarkable growth.
Investors, particularly major real estate players, started coming in, signifying their interest to develop large projects that started the growth of Davao’s Central Business District (CBD).
CBD is the term used to represent the commercial and business center of a city. It contains commercial spaces and offices, and in larger cities will often be described as financial district.
Property giant Megaworld’s 11-hectare Davao Park District township project in Davao City is slowly taking shape.
Located along the S.P. Dakudao Loop, which used to be the Lanang Golf and Country Club, Davao Park District is envisioned to be one of Davao City’s leading CBDs and a major center for information technology and business process outsourcing (IT-BPO) in Mindanao.
The One Lakeshore Drive of the Suntrust Properties Inc. (SPI), a wholly- owned subsidiary of Megaworld, is a four-tower development within Megaworld’s master-planned smart township development.
The four towers are being constructed and finishing is underway. Tower 1 is expected for turnover by second half of 2023 and other towers will follow every six months thereafter.
The four towers have a combined 1,260 residential units and commercial spaces on the ground floor.
Davao Park District also houses the Davao Finance Center, an office building targeted for information technology, business process outsourcing, offshore gaming, and other corporate clients.
The 250-bed Lanang Premiere Doctors Hospital, located within Davao Park District, adds to the medical facilities available in the city.
Being considered a prime area in Davao City is J.P. Laurel Avenue and is now considered the new financial destination because of the number of establishments thriving in the area including Ayala and Alcantara groups’ township project, the Azuela Cove.
Envision to be a complete waterside community, Azuela Cove features a high-end condominium, The Residences, located along the Davao City coast facing the Davao Gulf and Samal Island.
The 25-hectare mixed-use complex is a project of Aviana Development Corp., a joint venture company of ALI and the Alcantara Group of Companies.
Azuela already has a retail area called “The Shops”, which is anchored by G Center, the specialty department store of the Gaisano chain. It also features Pilates Plus Davao, Galerie Raphael, Young Living Essential Oils Experience Center, and other lifestyle brands.
Last month, the group brought “High Street” experience to Azuela Cove, which is described as Davao’s seaside lifestyle district, Azuela High Street will offer a mix of retail and dining destinations similar to the Bonifacio Global City’s (BGC) High Street.
Heading south is the Davao Global Township (DGT) of listed property developer Cebu Landmasters Inc. (CLI).
Cebu Landmasters, Inc. (CLI) and its local partners formally inaugurated the 23-hectare Davao Global Township (DGT) project in July 2022, with road networks almost done and the first phase on track to be completed by 2026.
The initial phase includes a condominium complex, a commercial area, and a cultural center, according to Frederick H. Yuson, president of YHEST Realty Development Corp., the joint venture between CLI and the Yuson, Huang and Tan families of Davao City’s Villa-Abrille clan.
They say that CBD is a key term in planning because of its importance to so many intersecting issues of the city that include the success and growth of the local and regional economy, the movement of goods and people, and the life and culture of a city.
And it seems that Davao City is heading perfectly well towards that direction.
