Advertisement

Damosa Land breaks ground for new office building in Davao City

Font Size

DIAMOND TOWER — DAMOSA LAND

DAVAO CITY — Damosa Land, Inc. (DLI), the property arm of the Floirendo-owned Anflo Management and Investment Corp. (ANFLOCOR), broke ground over the weekend for its new office building inside the Damosa Information Technology Park here.

DLI Vice-President Ricardo F. Lagdameo said the upcoming 15-storey Diamond Tower is designed to reflect the history of the city as well as the family business.

Mr. Lagdameo said they want to “encapsulate the history of the city and the company,” and make it an “iconic” building in Davao.

“Major cities (in the world) are characterized by iconic structures,” Mr. Lagdameo said, citing examples like the Petronas Towers in Kuala Lumpur.

The Diamond Tower will showcase banana fibers in its design, highlighting ANFLOCOR’s flagship business of agricultural production and export through Tagum Agricultural Development Corp. (TADECO).

The group’s founder, the late Don Antonio O. Floirendo, was among the pioneers of the banana export industry in the 1960s.

Mr. Lagdameo, a grandson of Mr. Floirendo, said the new building will have a 1,600-square meter floor area on every floor, with two floors devoted to parking.

Another three-floor car park that can accommodate about 300 vehicles will also be built in the complex.

DLI will fund the project with part of the P1.5-billion loan it signed last month with BDO Unibank, Inc.

Mr. Lagdameo said they are targeting to have the project completed by the first quarter of 2020.

“This is something of a milestone” for the company’s history as a major contributor to Davao City’s economy, he said. — Carmelito Q. Francisco