CLI starts P12.6B worth of projects in Davao
Property developer Cebu Landmasters Inc. (CLI) has raised its stake in Davao City as two landmark projects worth a total of P12.6 billion—both in partnership with the Villa-Abrille family—broke ground.
CLI, which is focused on Visayas-Mindanao market, started construction work on a former golf course that would be transformed into a 22-hectare central business district called Davao Global Township (DGT) in the Matina district. It also unveiled a vibrant mixed-use lifestyle destination called The Paragon Davao.
The projects are undertaken in partnership with the Villa-Abrille family through joint venture firms YHEST Realty & Development Corp. and YHES Inc.
The Villa-Abrille family members are heirs of Juna Villa-Abrille, among Davao’s premier pioneer residents and one of the biggest landholders. Juna was a trader and large-scale abaca planter who acquired a strategic landbank in Matina when a resident fleeing trouble in Mindanao sold him the property. His children eventually turned parcels of that property into a residential subdivision and a golf course, Davao’s first. They also donated key lots for civic and community projects to prime Davao City’s development through the years.
DGT will be anchored by a hotel managed by global hospitality group The Ascott Ltd., a residential tower, a lifestyle mall and convention center.
Phase 1 of DGT will feature an office tower, two residential towers, retail buildings, a cineplex mall and a convention center. These will make available a gross floor area of 93,000 square meters at an estimated cost of P10 billion and are set for completion by the end of 2022.
Article continues after this advertisementThe township is close to downtown Davao City and is only a 30-minute drive from the Davao City’s Francisco Bangoy International Airport.
Near DGT is the mixed-use The Paragon Davao, which CLI is developing in partnership with Davao Filandia Realty Corp. and Yuson Strategic Holdings Inc. under the joint venture YHES Inc. The project is expected to help pump-prime economic activity in southeastern Davao City where DGT is also located. —DORIS DUMLAO-ABADILLA
