Suntrust posts P1.5B sales in Q2

SALES of the Suntrust Properties Inc. in Davao City for the second quarter of this year reached P1.5 billion.

This was bared by Jerry R. Rubis, 1st vice president for sales and marketing, in an interview with Sun.Star Davao during the company’s second quarter party at the WAV Entertainment Central on Thursday.

“This is the highest quarterly sales we had since we began selling (for One Lakeshore Drive),” he said.

He said that on average, monthly sales of the property developer on their projects here can is usually at P200 million but during and after the Presidential elections, Rubis said that their monthly sales went double folds.

When asked where they do attribute the huge leap of sales in their project, Rubis was quick to add that Davao’s exposure as an investment hub was strengthened after its former long-time mayor now President Rodrigo R. Duterte was elected.

“Davao is the center of a lot of investors now, the city is indeed in the investment map and big factor of that is President Duterte,” he said.

But he also emphasized that aside from the Duterte fever, growing population, good business climate and peace and order, a lot of people would want to have a second home in Davao.

He also said that Davao has become a converging point in Mindanao.

“Davao is becoming ripe in real estate,” Rubis said.

He added that one of the reasons why condominium projects are peaking up in the city was the scartcity of land in the

city proper.

He cited that Davao is fast-becoming like Manila as reflected by the traffic.

“These are signs of growth, there is an increasing demand for real estate, that is why there is appreciation on condominium nowadays as compared years before,” Rubis said.

One Lakeshore Drive

The four towers of the One Lakeshore Drive in Lanang, Davao City, a township project of Suntrust Properties Inc. is already more than 90 percent soldout as of August 2016.

The township project is a 7.2-hectare residential component of the P15billion Davao Park District (DPD), Megaworld's 11.2-hectare township project in the city.

The four towers has some 1,400 units.

Rubis said that after the One Lakeshore Drive, the Two lakeshore drive, which will be composed of another four towers with some 1,200 units is set to be launched soon and is scheduled to be turned over to unit owners by 2020.

Built around the concept of "live, work, learn, and play," unit owners will not just own a condo unit but also an entire township.

The master-planned 11.2-hectare Davao Park District, which One Lakeshore Drive is part, will offer an eco-tourism project with its 8,000-square-meter man-made lake formed by a natural spring, various resort style amenities, fine dining restaurants, school, lifestyle mall and Davao Finance Center, a 15-storey building for offices.