DAVAO CITY — Euro Towers International, Inc. is in the finishing stage for its first condominium project here and is eyeing to start the turnover of units by the fourth quarter.
Grade T. de Leon, Vivaldi Residences Davao head of sales, told media after a walk-through of the project Friday that the building is structurally 100% complete.
The 36-storey Vivaldi Residences Davao, the company’s first venture outside Metro Manila, has a combined 883 units of studio, one bedroom, and two bedrooms.
“The start of physical turnover to the buyers is by batches. Usually we turn over the lowest floor and we go up,” she said.
The project is about 80% taken, Ms. De Leon said, and they are aiming to have the remaining residential units as well as parking lots and storage units sold by the end of the year.
“We have a mixed market. They are not just end-users but also investors. We have international clients as well. Among the common reasons for investing is we are very near the Ateneo de Davao University,” she said.
Currently the highest building in the city, Ms. De Leon said Vivaldi Residences has been certified by third party consultants as structurally stable after the series of earthquakes in Mindanao last year.
The company said Vivaldi Residences could withstand earthquakes with magnitude 7 to 8.4 as the structural designers computed for safety factors that are higher than the standards set under the National Structural Code of the Philippines.
“Every earthquake, our structural engineers do inspections and they certified us. If there are cracks, those were only hairline cracks and in terms of structural, we don’t have major damages,” Ms. De Leon said. — Maya M. Padillo