Damosa Land Inc. is set to start a new mixed-use project within the next five months, its top official of the homegrown development firm said.
Ricardo F. Lagdameo, company vice president, said the company is still securing the permits so that it could start the project, which is located in the Island Garden City of Samal, Davao del Norte.
“You know, it takes time to secure the documents, so we are looking at between the last quarter and the first quarter (for the start of the project),” said Lagdameo, a third generation member of the Floirendo family whose late patriarch, Don Antonio O. Floirendo, started his company in the 1940s in the city as a dealer of cars.
The project, earlier said Lagdameo, will be within a nine-hectare lot and will have a residential component. He, however, did not provide more details pending its start.
The upcoming project will become the fifth in the last five years for the company, the land development arm of the Anflocor Group of Companies, among the most diversified companies locally.
The company has developed its high-end subdivision Fairlane, a 2.7-hectare subdivision designed to become as an exclusive subdivision. The company recently added another hectare to the project as buyers were clamoring for more units.
The company has also been developing the six-building Seawind, a condominium project that provides its buyers with the best view of the nearby Samal island. The company is expected to reduce the timeline of the project by about two years as the project is nearly sold out. Only about 160 units have yet to be sold.
Another major project that the company has implemented is the Anflocor Industrial Estate, an economic zone whose main locator is the company’s port, the Davao International Container Terminal, a modern privately-run wharf.
Early this year, the company launched its what could be the biggest project ever, the 88-hectare mixed use project in Panabo City. The project, which will have a residential and commercial component, will also become the location of the unit of the University of the Philippines-Los Banos. MFS