P500M initial investment to develop Camella township-A A +A
Monday, April 8, 2013
AN INITIAL investment of P500 million has been poured in to develop a 30-hectare property in Communal, Buhangin into a township, a first of its kind in Davao City.
A joint-venture between Camella Communities and the family of Compostela Governor Arturo Uy, the residential development project called Camella Davao is the latest addition to Camella's roster of masterplanned communities in Davao Region.
It was launched over the weekend during a two-day exhibit that featured Camella development projects in Southern Mindanao, including the cities of Davao, Tagum, General Santos, and soon in Koronadal, South Cotabato.
The exhibit depicted the vibrant lifestyle of existing Camella communities, such as Solariega, Toscana, Camella Cerritos, Camella Tagum, Camella General Santos, and Camella Northpoint, as well as its upcoming developments in Communal and in Koronadal, South Cotabato.
Camella is a subsidiary of Villar-led Vista Land and Lifescapes, the country's largest homebuilder.
During the project launch on Saturday, Vista Land founder Senator Manny Villar said Camella Davao is so far their biggest project in Mindanao.
"This is so far the best Camella project in Davao City," he said.
In an interview, Camella president Jerylle Luz Quismundo said the company initially poured in more than P500 million in investment to jumpstart the project.
"But it's not a one-time investment. It's still growing as development and expansion in the area is never-ending," she said.
She said one of their major considerations in scouting for areas to be developed is that "it still has room for expansion."
She said Camella Davao is their first joint-venture project in Davao City and the second in Davao Region.
"Our Camella Tagum project is also a joint venture with the family of (Davao del Norte) Governor Rodolfo del Rosario," Quizmundo said.
She said Camella Davao is envisioned to cater to all segments of the market -- from urbanites to new couple, young families, working professionals, empty nesters and out-of-towners who wish to make Davao City their new home.
She said they are also looking at families of overseas Filipino workers as their target market.
This can be made possible as the development project offers homes for families who seek for upscale living, two-storey value-for-money homes for growing family and the more affordable homes for newlyweds, single and those starting up.
"So the project has all these components -- from affordable to middle segment to upper middle. We are giving homebuyers their own choice," Quismundo said, adding the package ranges from P1 million to P7 million.
Marlon E. Escalicas, Camella SouthMIn area general manager, said the project will initially built at least 1,000 housing units.
He said the project is also expected to elevate the standard of community living as Camella Davao will have its village center that houses activity and entertainment establishments, including commercial stores, coffee shops, grocery or a supermarket, retail stores, clinics and possibly school, church and a shuttle terminal.
Camella Davao will have a Carribean theme, bearing a mix of European and Western influences in its look and design.
Published in the Sun.Star Davao newspaper on April 09, 2013.