Amid global crisis, Davao condos sell like hotcakes

By
August 05 2009

By CJ KUIZON
Davao Today

A miniature of the Birmingham building, Camella Northpoint’s second building within the condominium complex. (davaotoday.com photo)

DAVAO CITY — Even before actual construction could begin, Camella Homes has already sold 90 percent of all its units in the first building within the seven-building condominium complex the company is developing near the Buhangin flyover.

Marlon Nino Escalicas, general manager of Camella Communities, told Davao Today in an interview that the company has sold almost all 120 units of the Camella Northpoint condominium complex since they started pre-selling in April this year.

The brisk sales prompted the launch of the second building.

“Despite the crisis, the real estate industry has been surprisingly booming,” Escalicas said during the start of the pre-selling of its second building over the weekend. He said the boom is not only happening in Davao but also in other parts of the country.

Pre-selling, which is quite common in the sale of condominium units, means that buyers purchase units before actual construction. Construction of the first building of Camella Northpoint will start this month when the developers expect all materials to arrive from Manila. Excalicas said construction of the second building, a seven-story structure to accommodate 150 units, will start a few months later.

ON THIS SITE WILL RISE. Ongoing construction of roads leading to future high rise buildings that will make up the Camella Northpoint’s condominium complex on JP Laurel Avenue going towards Buhangin. (davaotoday.com photo)

Escalicas said the units are targeted for the middle-income market. A first floor studio-type unit with a 21-sq. meter of floor space, costs about 1.49 million pesos while a three-bedroom corner type unit with a large balcony, offering a full view of the complexs amenities, can fetch up to 4.75 million pesos.

Buyers consist mainly of overseas Filipino workers and out-of-town residents with businesses in Davao City, who prefer to have their own place to staying in hotels. Escalicas said a significant number of locals who already own homes also purchased units as investments.

The units are attractive to the upwardly mobile, said Escalicas. The condominium complex will not only feature the usual clubhouse amenities like a pool and grill pits, a gym and mini-parks but it will also have a commercial enclave where residents can shop and dine.

Camella Northpoint is the first vertical project of Camella Communities Davao, a subsidiary of Vista Land and Lifescapes, outside of Metro Manila. Escalicas said the company is confident of the market here in Davao City. “Davao City is beginning to be a world-class city,” he said. “It used to have a laid-back lifestyle but Davaoeos and even the people in surrounding areas are now open to the faster pace of ‘urban living’.”

How the proposed condominium complex will change the Buhangin landscape by night. (davaotoday.com photo)

Camella Communities is also the property developer of Solariega, a housing subdivision in Talomo district, Toscana in Puan and Positana at Shrine Hills. Solariega made headlines a few years back when several residents complained that they were not provided with water, which was ironic because the subdivision is near Dumoy, the main water source of the city.

Escalicas assured the problem will not happen again because the Davao City Water District has already committed to provide the condo community with water. Each building within the condominium complex will also be provided with overhead water tanks as a contingency measure. The Shrine Hills project also figured in the news after Maa residents protested against the project, fearing possible landslides as developers filled up portions of the hillsides, lying directly above where they live. Escalicas said the developers have already passed all necessary documentary requirements and will push through with the development of the upscale project, as planned. (CJ Kuizon/davaotoday.com)

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