Davao condominium market remains upbeat

DAVAO CITY — Camella Northpoint, one of the projects here of Villar-led Vista Land & Lifescapes, Inc., continues to be bullish on the condominium market as it recently turned over units in its 5^th building.

Princess Grace U. Padua, marketing officer of Camella Manors Davao, said several units on the 5^th and 6^th floors have been handed over to owners, and only three are left on each 30-unit level.

“The rest are sold out and these are limited units available for sale and ready for occupancy,” she said in a briefing last week.
Finishing work is underway for the rest of the units in the 10-storey Bradford Building.

Ms. Padua said most of their buyers are overseas Filipino workers and foreign investors for either end-use or a source of income through renting.

“Northpoint is one of the most preferred accommodations in Davao City, so rental occupancy is high, that’s around 90%.

These are our primary market, secondary are self-employed and business owners,” she said.

Carlo V. Refamonte, marketing head for Camella Manors for Visayas-Mindanao, said Camella Northpoint’s location along JP Laurel Avenue, a commercial and business area, is one of its main selling points.

“That is the reason why many investors wouldn’t think twice to invest… they are sure that their investment will be continuously appreciating quarterly or yearly,” he said.

He said Vista Land is preparing to roll out two new projects, one in Buhangin and the other in Lanang. — Maya M. Padillo

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The article was originally published in Business World.