REAL estate developer Cebu Landmasters, Inc. (CLI) said that the development of The East Village’s first three towers at Davao Global Township (DGT) will be completed in the third quarter of 2026.
“The East Village at DGT is the first residential development in the township with over 2,000 residential unit offerings spread across the 6-tower vertical village. The newly launched and sold-out three towers with a total of 1,087 units will break ground in the second quarter of 2022 and are scheduled for completion in the third quarter of 2026,” CLI said in a disclosure on Wednesday.
The East Village and DGT are both projects of YHEST Realty Development Corp., CLI’s joint venture with the Yuson, Huang and Tan families belonging to the Villa-Abrille clan of Davao.
CLI reported that it sold out all units in the three towers, generating P4.068 billion in sales.
“Positioned as the most connected, green, and generous abode designed for the global Filipino, the record high sales turnout of The East Village shows that the development captured the robust demand in Davao City for residential units within a premier township designed to meet world-class standards,” CLI said.
The residential units are a mix of studio, one-bedroom and two-bedroom units with floor areas from 22.3 to 75 square meters (sq.m.). Prices range from P118,800 per sq.m. to P150,000 per sq.m. for the first three towers.
The East Village, along with a lifestyle mall and cultural center, is part of first phase of the 22-hectare DGT, which is close to completion, CLI said.
“DGT is envisioned to transform the former Matina Davao Golf Club into a global and iconic central business district. It will host the headquarters of top corporations in the country, office hubs of BPOs and multinationals; it will have a hospital, retail, civic spaces and a central park. It will be a development that dynamic Davao City truly deserves,” YHEST President Fred Yuson said.
Part of DGT’s initial phase is the P700-million lifestyle mall, DGT City Center. It will be complemented by the P200-million DGT Cultural Center, with showrooms, museum spaces, and theater, among other features.
CLI said it is developing other townships, including the 100-hectare Minglanilla Techno Business Park in Cebu, the 14-hectare Manresa Town in Cagayan de Oro, and more future estate projects in Cebu and Bacolod.
The company posted an attributable net income of P535.96 million in the third quarter last year, down 24.5% year on year. Its nine-month income went up by 23.3% to P1.85 billion.
At the stock exchange, CLI shares were unchanged at P2.97 apiece on Wednesday. — Luisa Maria Jacinta C. Jocson
