EDGEDAVAO VOL.5 ISSUE 6 • MARCH 11-12, 2012
ARAW NG DABAW SUPPLEMENT
Davao City: Land of ‘real estate’ promise
By Carlo P. Mallo
With a relatively amiable weather, rolling terrain, and a peace and order situation that is more ideal than most parts of the country, it comes as no surprise that more and more people are moving and living in Davao City.
Aside from the population, one indication of a city’s growth is the number of industries that has made it its home. Just look at Cebu, Metro Manila, and other cities that have put up their own export processing zones. The same cannot be said for Davao City. If there is one industry that is in the city, it is the real estate industry. Subdivision after subdivision, condominiums built in droves, and hectares upon hectares of land being cut up into an average of 200 square meters, is what the daily grind in Davao looks like. The old city center is now being torn down to make way for taller condominium buildings, while what used to be farmlands are now being converted into gated communities with paved roads and storm drainage systems. While Davao City has no shortage on land area, with more than 2,000 square kilometers to boot, most Dabawenyos would opt to live near the city center or what is referred to as ‘downtown’ Davao. The exponential growth of real estate has never been as strongly felt as it has been the past few years with new mini-central business districts sprouting all over the city, and mall chains racing for the bigger market share, and condominium developers racing for the tallest tower award. On a quiet side of the city, developers have been literally moving the earth to create new villages that answers the needs of the modern Filipino family. Condominium living
Living in a condominium was unimaginable five to ten years ago. Who would have wanted to live in a confined space of about 30 square meters when you can enjoy and own a 500 square meter property at almost the same price? But as Dabawenyos realized, there is so much more to a condominium than a 30 square meter studio unit and the perks of calling your house as a “condo”. Aside from the amenities
the country,” Debin Uraya, president of ULDI, said. This year, another player in condominium development is expected to join the robust market in Davao City. But who is buying? While there are a number of Dabawenyos who are buying condominium units, a large portion of the buyers are from outside Davao City who have businesses in the city, have children studying in the city, or use the city as a
The old city center is now being torn down to make way for taller condominium buildings, while what used to be farmlands are now being converted into gated communities with paved roads and storm drainage systems. and security that one enjoys as part of the condominium lifestyle, owning a condominium unit entails very little maintenance, as there are no shrubs to trim, no lawn to mow, or trees to prune. But one still enjoys the perks of greenery, as manicured pocket gardens are a staple in a condominium property. For most condominium developers in the country, sales have been brisk for the first two months of the year. “Sales have been very robust since the start of the year, way better than 2011,” Nora Gutierrez of DMCI said. Marlon Escalicas of the Villar-owned Camella shared that they are projecting a better year in 2012. Aside from major players, local real estate developers like the Uraya Land Development, Inc. is also looking at putting up condominium units to cater to the demands of the market. “With condominium units, you can sell it to foreigners who want to have a piece of property here in
jump off point to see the rest of the world. If you look at the city, you will notice condominiums being built left and right, and most developers project that such phenomenon will continue for the next 5 to 10 years as the market remains to be insatiable with its demand for vertical living spaces called condominiums.
1. Will it serve my purpose?
this investment be secure? How to select 2.3. Will Is it worth what I’m paying for? your condo unit 4. Will I earn on its returns? Source: Nora Gutierrez of DMCI