MEGAWORLD Corp. is optimistic about the real estate market in Davao City, the hometown of President-elect Rodrigo Duterte, and is taking advantage of the situation down south, a company official said.
“It’s just very good to know now, that with the assumption of the new president . . . that there is a certain amount of attention and focus on Davao,” Megaworld Senior Vice President Jericho Go told reporters in a recent interview.
Even before Davao has been on the spotlight, Megaworld has been expanding in cities outside of Metro Manila.
“Let me emphasize that even before President Duterte was elected, two to three years ago, we’ve already been doing a lot of activities outside of Metro Manila. We have the Iloilo Business Park, the Mactan New town in Cebu.
“Now, of course . . . it is very important to note that we are very opportunistic as a company, and we see a strong demand for offices, and Davao is no different,” Go noted.
Megaworld is ramping up office developments in the 11-hectare Davao Park District in Lanang, and is going for two more office developments within the township, namely One Republic Plaza and Emperador House, adding 30,000 square meters of office space to the township’s office inventory.
Within the township, the property giant is currently constructing the 15-story Davao Finance Center.
Even in the past, Go noted Davao has been recognized for the skills of its labor pool in business process outsourcing.
Go emphasized that the current interest in Davao has influenced the pace of development for Davao Park District.
The Davao Finance Center is set to be completed in the middle of next year, but Megaworld will try to finish it earlier.
“So once we have existing tenants operating there already, then we feel that that will be a good engine to create more demand for future space. That’s why we believe very much that the demand is there so we’ve launched two more in addition to the first one,” Go said.
Megaworld is also building a retail strip and shop houses. Plans for putting up a hospital and a school are also in the works.
“. . . I think this should be taken as a good thing, because once you are able to establish new centers of excellence in Mindanao in Davao in particular it will decongest Metro Manila. So it will help hopefully lessen the pollution, the traffic congestion, and many other problems that we have can be remedied or can be supported by new projects especially in Davao,” Go said.