THE joint venture of listed firm Cebu Landmasters Inc. has inaugurated and started the sale of the commercial lots in its 23-hectare Davao Global Township after two years of site development.
The development was carried out by YHEST Realty and Development Corp. a joint venture between Cebu Landmasters and the Yuson, Huang and Tan families of the prominent Villa-Abrille clan of Davao.
The developer said it started to offer 27 township commercial lots for sale after completing the utilities and road networks of the property, which is the former Davao Golf Club in Davao’s populous Matina district.
The commercial lots for sale have a total area of 47,194 square meters and lot sizes range from 1,054 square meters to 3,446 square meters.
“Davao Global Township, which we are now inaugurating after only two years of site development, is expected to further catalyze economic growth for Davao its neighboring municipalities by offering a business destination at par with the best in Asia that will host the country’s top corporations, office hubs of BPOs and multinationals,” CLI chairman and CEO Jose Soberano III said.
“We have laid the groundwork for DGT by building a world-class shopping destination and a six-tower residential complex. Market reception to both have proven that Davao is more than ready for a project as ambitious and visionary as DGT,” YHEST president Fred Yuson said.
The Davao Global Township phase one includes the township’s first residential development called East Village at DGT, a commercial area and lifestyle mall DGT City Center and DGT Cultural Center. The city center and cultural center will both open in 2024.
The company said three of the six-tower of East Village at DGT with 1,087 units were sold out in less than a week in the first quarter. This prompted the opening of the fourth tower last June.
To date, all four towers with 1,334 units are already 90 percent sold at a sales value of P5.25 billion in a three-month selling period.
The company said work on a P700-million lifestyle mall, DGT City Center with retail, restaurant and entertainment choices, is also progressing.
Both projects will be complemented by the P200-million DGT Cultural Center with showrooms, museum space, a theater and function room that can fit up to 250 persons.
The development will have the presence of native trees, a dedicated one-hectare central park and several pocket parks. The township is equipped with flood mitigation technology and sustainable solid waste management. It has smart community features like open spaces, wide bike lanes and sidewalks, a full underground cabling distribution system, among others.