Upper middle market developer Data Land Inc. (DLI) recently celebrated its 10th anniversary with the re-launching of its P11-billion project which the company stressed as a sign of confidence in the local property market.
DLI Executive Vice President And General Manager Joseph Ramil Lombos told reporters the 947 Sky Towers project is aimed to address the potential shortage of condominium units in the Quezon City area. Lombos said DLI had to reconfigure the plans for 947 Sky Towers as some unexpected developments unfolded during the pandemic. The original plan called for construction of a 60-story office building. However, the pandemic forced DLI to re-study the project.
After a thorough evaluation and assessment of the developments that took place in the industry, DLI Vice President for business development and customer turnover group Felimon Yee Jr. said the company decided to build a two-tower mixed-use edifice in response to the demand of the market.
Lombos said the huge vacancy in the Ortigas area caused by the Covid-19 pandemic forced DLI to go back to the drawing board and reevaluate the plan. “That was the time when we decided to change it to a mixed-use development,” Lombos said.
Located in Epifanio delos Santos Avenue (Edsa) corner Mother Ignacia in Quezon City, the 947 Sky Towers will be formally launched by the end of the first quarter of 2023.
Yee said the development will become one of the future landmarks of the Edsa skyline standing at 55 floors. The first tower will be a 54-story structure with 880 residential units. Meanwhile, the second tower will have 55 storys and 855 residential units. There will be three basement parking sites and three podium parking facilities.
Although 947 Sky Towers is competing for market share against property heavyweights Ayala Land and SM Development Corp., Lombos pointed out DLI remains bullish as the project is quite accessible by public transport through the MRT-3 and the future subway funded by the Japanese International Coordination Agency (JICA).
The company will also capitalize on the revenge buying of Filipinos.
“Overseas Filipinos are buying property back home not just as primary residence but more for the passive income or rental potential it provides,” explained DLI Vice President and head of sales and marketing Marian Roxas.
As the property development arm of renowned quadruple-A contractor DDT Konstract Inc., DLI has emerged as an important independent player in the local real estate industry in the past 10 years.
Given the strength of its parent company in construction excellence, DLI’s mission is to provide Filipino homeseekers and investors with “quality beyond the basics”—real-estate developments that exceed expectations and provide the best value for hard-earned money.
On its landmark 10th anniversary, DLI continues with this mission and ensures the company’s enduring relevance to the majority of Filipinos. “More than just building structures and creating homes, our ultimate goal is to improve the quality of lives of the most ordinary of Filipinos, which they truly deserve,” DLI President Engr. Andrea Tamayo-Ulep said.
Despite numerous challenges in both global and local business environments, DLI remains optimistic of prospects in the property market. “The first 10 years of DataLand has been met with challenges, which we have successfully overcome thanks to a solid business foundation and a strong organization brought together by shared values and common goals,” added Ulep.
Yee, DLI vice president for Business Development and Customer Turnover Group, bares some of the company’s upcoming projects that the market can look forward to.
The development will become one of the future landmarks of the Edsa skyline standing at 55 and 54 floors.
By the end of 2023, DLI will also be launching a new 4,833-sq m, mixed-use residential and office condominium development in Sta. Ana, Makati City. Located along Carreon corner Delas Alas Streets, it is strategically located very near Circuit Makati.