Multi-awarded homegrown property developer Damosa Land, Inc. (DLI) made a huge breakthrough at the height of the coronavirus disease (COVID-19) global pandemic after the successful Tower 5 blessing of its pioneer midrise condominium project, Seawind, recently.
DLI Head Ricardo Floirendo Lagdameo, who has always been a staunch believer that countryside development and property development will survive and thrive in the New Normal, was elated by the company's newest milestone.
"Despite the challenges that we had to face this year, here we are today celebrating another milestone for Seawind. We refuse to waiver in our commitment and dedication to providing quality homes to our clients because we know that at the end of the day, this is the safest place that we all go to," he said.
Turnover of Tower 5 units to homeowners is set in November. Regular physical turnover activities, however, have been done virtually over the past months. A total of 67 units were turned over to their owners from January to August 2020 thus raising the total number to 345 homeowners currently residing at Seawind.
Lagdameo is upbeat about completing the six-tower project at the 2.7-hectare property in Sasa, Davao City very soon.
He said, "With favorable circumstances, we will be able to finish Tower 6 in the first quarter of 2021 and Phase 2 amenities in the first semester of the same year. But despite the challenges, we will assure you that we are resolved to deliver our commitment to completing this community according to or closest to the timelines that we have set."
Construction works at Seawind have quickly resumed but DLI made sure that workers comply with the strict government protocols.
It is interesting to note that the Department of Human Settlements and Urban Development (DHSUD) recently reported that the housing backlog in the Philippines has reached 6.75 million units and the number could even balloon to 22 million units by 2040.
DLI, for its part, takes this as a welcome challenge to do its share in easing the housing problem in this part of the country.
Bagging the Highly Commended Award for Best Residential Development (Davao) in 2017 from the Property Guru Philippines Property Awards and being cited as Highly Commended Best Affordable Condo in Visayas and Mindanao during the Outlook 2019 Awards by Lamudi Philippines just affirm how serious and dedicated DLI is in giving the best housing experience for its clients.
Seawind, an Award Winner for Condominium Philippines Category at the 2018-2019 Asia Pacific Property Awards, boasts of 1,183 sophisticated units (studio-type, two-bedroom, three-bedroom, and Bi-Level) many of which provide an unobstructed view of the Davao Gulf and the Island Garden City of Samal (Igacos), generous allotment of open spaces totaling to 75 percent of the entire property, dedicated to amenities and road networks.
Each building showcases a three-winged building design with only eight unitis sharing a hallway to ensure low density and maximum privacy.
Seawind is inspired by "Air Sculptures' architectural theme, creating naturally ventilated hallways and single -core access with light wells and windows to maximize natural lighting.
Seawind residents will also get to enjoy its amenities such as clubhouse, pocket parks, open spaces for lifestyle activities, commercial strip, a half-olympic-size swimming and kiddie pool, playground, and quiet spaces, among others.
Promising Outlook for Residential Property Industry
Meanwhile, the property market has shown its resilience with a 27.1% increase across home segments in the country during the second quarter this year, according to a Bangko Sentral ng Pilipinas (BSP) report.
This surprised experts just like Unionbank of the Philippines chief economist Ruben Carlo Asuncion who was quoted at a Philippine Star September 25 report as saying, "It’s an unusual increase. A crisis usually depresses demand for new housing. It doesn’t add up with the current environment.”
Being a residential hotspot in Mindanao attributing to its favorable purchase terms, cheap financing costs (lower interest rates), and available inventory, Lagdameo said people will continue to invest in residential real estate.
He added that investors are looking at buying properties outside the city center or traditional areas and that projects in the suburbs will get an uptick late 2020 to 2021 despite the Covid-10 crisis.