Grand Land to shell out P1.8B for Davao project
DAVAO CITY — Gaisano-owned Grand Land, Inc. is spending an initial P1.8 billion for the residential component of its mixeduse project here covering an 8-hectare area within the city’s Buhangin district.
The Amani Grand Citygate Davao will have four nine-storey condominiums for the middlerange market, a Gaisano Mall planned to be the biggest among its branches, office buildings and a hotel.
“The name Citygate comes up because the area, which is Buhangin, [and] is like a crossroads going to Davao and outskirts going to Tagum and Panabo ( cities). Amani is our mid- end product like we have Amani in Mactan ( Cebu). We were very successful in Mactan so we want also to bring it here in Davao,” said Grand Land President Ryan Bernard Go at the opening of their showroom yesterday at the Grand Regal Hotel.
Mr. Go said more than 60% of the total project area would be allocated as open spaces and for communal amenities.
Jan Eric B. Menguito, property development consultant of Menguito Consulting that has been contracted for the project, said the master plan is still flexible, depending on market uptake, but the first two condominium buildings are already being readied for construction.
“If you look at our scale model, we have the commercial strip, BPO ( business process outsourcing) building… Those are still conceptual, no details yet but we have already areas allocated for these,” Mr. Menguito said.
Site development is scheduled to start this year while construction of the first condominium building is targeted to start next year and turn over of the units within four years.
Mr. Menguito said they are targeting to deliver the second building a year after the first.
Mr. Go said they started planning for the Davao project four years ago, but it had to take a backseat to other developments in Cebu, the company’s base.
“Suddenly, when we came back, we found out that the initial plan for Davao is a bit old, and we saw the potential of a lot of the new buyers (who) are the young and the young at heart. We had to change our architectural plan from the traditional one into a more vibrant one,” Mr. Go said. —