Suntrust breaches P3B in reg'l sales
CAPPING 2016 in leaps and bounds, Suntrust Properties Inc. breached the P3-billion mark in terms of booked sales in Davao Region.
Suntrust President Harrison M. Paltongan told reporters on Sunday at the sidelines of the firm’s 4th quarter and 2016 Annual Awarding Ceremony at the SMX Convention Center, SM Lanang Premier that the sales' upward trend shows that Davao’s real estate landscape is thriving.
“We are almost sold out for our first four towers, the One Lakeshore Drive,” he said.
The developer’s focus now is the construction of the first phase, first four towers, and selling of the next phase, the Two Lakeshore Drive, which is also comprised of four buildings.
The firm launched the first phase of its project last 2014.
“For the construction of the four buildings (of the One Lakeshore Drive), we are still securing building permits and other licenses but the land development is already done and the foundation is already awarded,” Paltongan said.
One Lakeshore Drive is a 7.2-hectare residential component of the P15-billion Davao Park District (DPD), Megaworld's 11.2-hectare township project in Lanang, Davao City.
The first phase of the property development will feature 21-storey towers with 354 units of studios, executive studios, and one and two-bedroom unite.
Suntrust first vice president for sales and marketing Jerry Rubis, for his part, said their sales force, called the “Suntrustees”, are committed and positive to achieve 2017 sales target of P4.3 billion.
“For the past two to three years, we saw that people, especially Mindanaoans are investing on condominium properties, and we are happy that we are in the forefront,” Rubis said.
Suntrust has two major projects in the Davao Region, the One Lakeshore Drive and Palm City in Tagum, Davao del Norte.
Paltongan also said they are keen on expanding their operations in the city. He said in the next couple of months, they will be announcing additional projects, especially on horizontal development, once finalized.