There’s a growing market for condominiums in Davao City. It started in 2007 when DMC Urban Property a subsidiary of DMCI introduced the very first mid rise condominium complex in Davao City dubbed as ECO 4000. Sounded quite awkward for a residential project but turned out to be a beautiful urban community which is close to everything. It’s selling point is its vicinity to SM City Davao. Then few months after, noticing the local acceptance of such project, Filinvest introduced One Oasis to the local market. This is the second One Oasis project launched by the developer in the country (first would be in Ortigas and third is located in Cebu). One Oasis Davao is consist of several midrise condominium buildings and is also located at the back of SM City Davao. DMC Urban Property responded by launching its second condominium complex in the city called as Magallanes Residences. This complex is located at the back of Davao’s City Hall and is consist of 3 mid rise condo buildings. Today, there is a growing trend in midrise condominiums development in the city. New Davao condominiums being added on the list are Camella Northpoint, LinMarr Towers, and Palmetto Place. Recently, Ayala also announced that it will be developing a residential project within Abreza – it’s mixed use project in the city.
There is indeed a growing condo market in Davao City. But the market needs something new. Developers based in Metro Manila are flocking down south, conducting exhibits and inviting Davao based Dabawenyos to invest in some highrise residential condominiums in Metro Manila. And a number of local investors responded positively. Do you think it’s about time that developers start offering something more than midrises?