DAVAO CITY — Escandor Development Corporation (ESDEVCO) has generated P2.1 billion in sales from the expansion of its Matina Enclaves project.

“This year, we sold 30% more of what we have produced last year. We only made P1.6 billion in a span of three years in the industry,” Matina Enclaves project director Gerald Kent Garces said in an interview.

For the expansion of the Matina Enclaves, ESDEVCO is planning to build four condominium towers with 25 floors each on a 1.7-hectare property adjacent to the existing project.

Mr. Garces said the company saw strong sales of the two condominium towers, which were launched earlier this year. The first tower is already sold out, while the other tower has half of its inventory remaining.

He noted ESDEVCO President Glenn Y. Escandor wants the company to turn over the project on time. The company is targeting to complete a condominium tower every year starting 2020 through 2023.

“When G1 (Mr. Escandor) mentioned it delivering it on time, I supposed it entails a lot of commitment and hard work from our group to comply with this. This represents a true commitment of a local developer. In fact, when we started the project, we made it a point not to disappoint the locals, especially our buyers in terms of quality and deliverables,” Mr. Garces said.

The first five medium-rise buildings of Matina Enclaves have already been sold out. One building has been completed, while another one will be turned over in the first quarter of 2018. Construction of the third tower is on-going, and will likely be finished by end-2018. The fourth and fifth towers are targeted to be completed in 2019.

“What does it say about ESDEVCO as a developer? We are very aggressive in one sense because for this particular project, we didn’t only approach things very conservatively through development of the residential. But for this project, we have residential, and house-and-lots that we were able to develop. We turned over one condo building in mid-2016 and we will be able to turn over another one by next year,” Mr. Garces said.

In time for summer next year, Mr. Garces said the company aims to complete the Arcadia, the sports facility of Matina Enclaves. — Maya M. Padillo

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