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Megaworld’s Davao Park District project gaining ground

By MindaNews

| January 29, 2015 - 1:15 pm

DAVAO CITY (MindaNews / 29 Jan) – The 11.2-hectare Davao Park District, the first township development in Mindanao of property developer Megaworld, has been gaining ground as it already attracted clients and different companies to locate in the project.

Jericho P. Go, senior vice president of Megaworld, said Thursday in a press conference at Marco Polo Davao that they are presently on track with their masterplan to set up residential condominiums, commercial and retail strips, office buildings and educational institution within seven years starting this year.

The P15-billion Davao Park District is being developed along S.P. Dakudao Loop, Lanang, formerly the area where the Lanang Golf and Country Club was situated.

“As we remain hopeful to expand our township in terms of size in the near future, we have ramped up our township masterplan to make this development more exciting, more vibrant and more unique that only Megaworld can ever build for Davao City and the entire Mindanao,” Go said.

On the residential component of the township development, Megaworld has partnered with its subsidiary, Suntrust Properties Inc.

, for the establishment of four-tower residential condominium “One Lakeshore Drive.”

Harrisson M. Paltongan, president of Suntrust Properties Inc., said the first tower is now about 70-percent sold out since they began selling the condominium units in November last year. This prompted the company to launch the second residential tower as the first was already almost sold out.

Each 21-story tower will have 350 condominium units, ranging from a 27-sq.m. studio to 76-sq.m. two-bedroom units. The residential condominium project is beside the one-hectare man-made lake at Davao Park District.

“We are very happy with the overwhelming reception of Davaoeños to our first residential project in Davao Park District. Our experience is far beyond what we have expected,” Paltongan said.

With the positive turnout, he said they are expecting to generate P2 billion in revenues this year from its One Lakeshore Drive project.

The sold units on the first residential tower will be turned over to the buyers in the last quarter of 2019.

“One Lakeshore Drive will have an exclusive third-level amenity deck that features a 20-meter infinity pool overlooking the lake, wood deck pool area, wet lounge, kiddie pool, outdoor fitness station, gazebo, children’s playground and pocket gardens,” Megaworld said in a statement.

Apart from the residential condominium, Go said they will construct a 16-story Davao Finance Center, where it would house some of the country’s biggest companies in the field of information technology and business process outsourcing.

At present, Go said there were already about 10 companies that bared interest to locate in the Davao Finance Center. “The building’s architectural design will stand out as an icon of business, trade and commerce in Davao City,” he said.