Davao’s real estate sector welcomes resumption of construction activities

Damosa Land, Inc. vice president Ricardo “Cary” Lagdameo and VisMin head of COHO by VistaLand Marlon Escalicas. 

The real estate sector in Davao City sees the need for the resumption of the construction activities in Davao Region to restore the economy and generate jobs lost during the lockdown amid the coronavirus pandemic.  

Marlon Escalicas, VisMin head of COHO by VistaLand, said he is in favor of the resumption of the construction and engineering projects that have been delayed and disrupted due to the pandemic.

“The challenge lies more on the implementation considering the protocols and the limitations due to the social distancing,” he said through Facebook messenger.  

Escalicas said developers must plan this carefully before resuming operations to ensure the safety of the health of the workers.  

He said COHO is already preparing to start construction but not full blast because of the protocols. Presently, the company is still complying with the requirements of the Department of Public Works and Highways 11 (DPWH 11) for the resumption of construction works. 

Escalicas added that the unstable economic condition somehow resulted to a “wait and see” attitude of the company’s prospective buyers. 

He said developers are also adjusting to the “new normal” in selling specifically digital. 

“A lot of our sellers are still struggling to learn digital selling and the internet connection is still a challenge. But I think the industry is adapting to this and buyers are also slowly gaining confidence in doing online transactions,” Escalicas said.  

COHO by Vista Land is the latest integrated property development concept from Vista Land and Lifescapes, Inc. The brainchild of its visionary founder, Manny B. Villar, COHO by Vista Land aims to seamlessly combine the style and energy of condo living with all the convenient amenities of home. (Condo + Home = COHO). 

The COHO properties in Davao City are The Norpthpoint in Bajada, The Terraces in Ma-a, The Acropolis in Lanang, The Frontera in Buhangin, and The Evora in Communal, Buhangin.

Meanwhile, for Ricardo “Cary” Lagdameo, first vice-president and chief development officer of Damosa Land Inc., (DLI), construction works need to continue, whether it’s for private or public projects as construction workers have been one of the most affected during the lockdown. 

“Not only will construction activity help to restore jobs, it will help to restore a very damaged economy,” he said.  

Lagdameo believes that most construction companies and development companies will be responsible enough to instill safety measures in the workplace. 

“The economy needs to move along. I believe lives and health are top priority but without livelihood, we will have bigger problems in trying to determine how to feed the millions of people without jobs,” he said. 

Lagdameo said it is expected that there was a slowdown during the lockdown in terms of constructions due to work and travel restrictions. 

“Sales also dropped significantly but there were still some sales,” he said. 

He is optimistic that the residential properties will be resilient for several reasons such as real estate has proven to be a good investment overall, lockdown showed how important it is to have one’s own home, and from a buyer’s perspective, now is a good time to take advantage of good deals.

DLI is has an office building with about 20,000 square meters of leasable space with construction ongoing and is targeted to open in either August or September. 

The company is also building two residential projects that is expected to finish in the fourth quarter of this year or the first quarter of next year.