LISTED property developer Cebu Landmasters, Inc. (CLI) and its local partners formally inaugurated the 23-hectare Davao Global Township (dgt) project on Saturday, with road networks almost done and the first phase on track to be completed by 2026.
The initial phase includes a condominium complex, a commercial area, and a cultural center, according to Frederick H. Yuson, president of YHEST Realty Development Corp., the joint venture between CLI and the Yuson, Huang and Tan families of Davao City’s Villa-Abrille clan.
“The inauguration signifies that we have arrived since we’ve been lagging behind Manila and Cebu when it comes to townships,” Mr. Yuson said.
The P33-billion mixed-use complex occupies what used to be the Davao Golf Club owned by the Villa-Abrille clan.
Succeeding phases of the Davao Global Township will cover office buildings, including spaces earmarked for business process outsourcing companies, and a hospital.
“The other component (in phase 1) like an outdoor mall will be started together with the retail across it and a cultural center,” CLI Chairman and Chief Executive Officer Jose R. Soberano III said in an interview at the launch.
The cultural center will serve as a “civic center” for various activities and feature artifacts and memorabilia of the city’s history, he said.
The condominiums, called East Village, will be the first of several residential components in the township. It will have more than 2,000 units in a six-tower structure.
Mr. Soberano III said three of the six-towers with 1,087 units were already sold out in the first quarter of 2022 while the fourth tower is 90% taken.
YHEST has also started selling an initial 27 commercial lots with a total area of 47,194 square meters (sq.m.) with lot sizes ranging from 1,054 sq.m. to 3,446 sq.m.
YHEST Executive Director and CLI Chief Operating Officer Jose Franco B. Soberano said the township is also planned as a sustainable complex.
One of its features is an underground tank that can store up to 10 million liters of rain water, which will be used to irrigate green spaces.
“Even the street lights are not just any kind of street lights, these are designed by Philips and are programmable… Another is the responsible development, the bike lanes are not together with the cars as they will be placed along the sidewalk,” Mr. Soberano said. — Maya M. Padillo