Written by Judy Quiros
Publication: The Mindanao Daily Mirror
DAVAO CITY -- A mix of multinationals and local companies have committed to locate in the 17-story Damosa Diamond Tower, ushering in robust economic growth for the benefit of the Davaoeños.
Ricardo F. Lagdameo, First Vice President of Damosa Land, Inc (DLI), has confirmed that three floors of the 13 leasable floors of the office tower are already taken for lease.
"We have a few pre-commitments, but I can't announce them yet until they have officially signed. But three floors of the 13 leasable floors are already committed. It's a mix, some multinationals and some local companies," Lagdameo said during a press conference on Thursday last week when DLI held the topping off ceremony of the building situated in Damosa IT Park along J.P. Laurel Avenue.
Lagdameo is optimistic DLI will meet its target of about 50 premier companies to locate into the 20,000 square meters leasable area of Damosa Diamond Tower upon its completion by April. This would include corporate offices of the Anflocor Group and DLI, expansive co-working spaces such as that of Regus, Business Process Outsourcing (BPO), and Knowledge Process Outsourcing (KPO) firms.
Lagdameo said the office space market in Davao City is starting to pick up with the entry of a number of investors who opt to do business in the city since office rentals are more affordable than in other cities in the country. This factor, he added, has also contributed to the city's economic momentum. The city, according to financial managers, is growing by 8 percent, about the national growth of 6 percent.
"With our new building, investors now will have a choice to have permanent or flexible workspace; it gives them a lot of flexibility, a wider range of industries to come in now from BPOs or individual sole proprietorship. It will give them the option on how to invest in an ope space," Lagdameo said.
The office tower stands 17 stories high, has a land size of 2,200 square meters, and a building footprint of about 1,800 square meters.
With the expected rise of economic activity in the area, DLI will also construct a car park building in the Damosa IT Park that will hold about 350 cars and is set to be fully operational later this year.
The tower promotes the use of renewable energy and will give its locators access to alternative power sources. Custom-made exterior fins are installed to help divert heat, and the development poses environmentally sound features, which include the use of LED lighting, and eco-friendly insulation.
Considered one of the biggest projects of DLI, its topping off was truly a milestone for the company, Lagdameo said.