YHEST REALTY and Development Corp. has launched the mixed-use first phase of its P33-billion Davao Global Township (DGT) business district.
The first phase of the 22-hectare project will include residential towers, an office building, a cultural center, and the DGT City Center, which will include retail shops, the company said in a press release on Tuesday.
The phase is expected to be completed in 2023.
YHEST is a joint venture between Cebu Landmasters Inc. (CLI) and the Villa-Abrille family in Davao.
CLI President and Chief Executive Officer Jose Soberano III said he expects Overseas Filipino Workers and local residents who have been looking to buy a home since the pandemic to show interest in the township’s residential units.
YHEST President Fred Yuson said business confidence has been returning in Davao, where lockdown measures are less strict.
“This is likely to push the growth of innovative projects like the Davao Global Township, which introduces Davaoeños to fresh lifestyle, retail and corporate concepts.”
According to previous statements, the estimated P10-billion first phase includes 93,000 square meters of gross floor area.
The developer announced the project in April 2019. The township is the third partnership project between CLI and the Villa-Abrille family.
The property was previously a golf course owned by the Villa-Abrilles. — J.P. Ibañez
