The first phase of the PHP33 billion Davao Global Township was recently unveiled with the project a sign of the confidence developers still have in the Mindanao region. Residential towers and an office building were among the projects to be announced as part of the initial phase.
Davao Global Township is being developed by YHEST Realty and Development Corporation, a joint venture partnership between Cebu Landmasters and Davao’s well-known Villa-Abrille family.
The pair envisions the 22-hectare estate becoming the premier address and strategic business district in Mindanao. Once a golf course, Davao Global Township will transform the site into a lifestyle hub with unique architecture, including the Waling Waling orchid inspired cultural center.
Cebu Landmasters President and Chief Executive Officer Jose Soberano III told Business News Asia that residential demand in Mindanao has remained strong this year with home ownership becoming a greater priority for many people. He added that Overseas Filipino Workers would also be interested in units at the project.
Several indoor and open-air features at Davao Global Township have been designed with the “New Normal” in mind. Even though the impact of the COVID-19 pandemic was smaller in Mindanao than other parts of the country, the developer understands it is something people everywhere will be mindful of moving forward.
“Business confidence appears to be returning particularly in Davao where lockdown measures were less stringent,” YHEST President Fred Yuson explained to the website. “This is likely to push the growth of innovative projects like the Davao Global Township, which introduces Davaoenos to fresh lifestyle, retail and corporate concepts.”
A key driver for the Davao property market in the coming years will be infrastructure spending. Notable projects, such as the Davao Coastal Road, Davao Monorail, Mindanao Railway Project and Davao Bus Rapid Transit, are in the works and these could elevate the local economy, and in turn the real estate sector, even further.
This article originally appeared on Dot Property.
