Damosa Land targets 2-3 years to finish Davao socialized housing project
Damosa Land Inc. aims to complete its multi-building socialized housing project in Davao City within two to three years, with land development under way. The developer also reported progress across its Southern Mindanao portfolio, including Agria township, Kahi Estates and Bridgeport Park.
Damosa Land Inc. (DLI) is targeting completion of its multi-building socialized housing project in Davao City within two to three years, with land development now under way. The developer plans to build 13 to 14 buildings in phases, with the first three or four buildings constructed for compliance requirements, said Virgmarie O. Bacalso, senior assistant vice-president for finance and corporate administration, on Sept. 9.
The project is being developed in coordination with the Home Development Mutual Fund (Pag-IBIG Fund). All residential units will be studio units that may be configured according to buyer preferences. The development forms part of DLI’s residential portfolio in Southern Mindanao, where the company has subdivisions, condominiums and mixed-use developments.
DLI said residential demand in the region has remained stable, which it attributed to inventory levels and pricing. The company added that the region has not experienced the same level of condominium oversupply seen in Metro Manila. Sales generated during its Kadayawan event in August accounted for nearly 40 per cent of its total residential sales revenue for the year.
DLI is also considering replicating its condominium investment model in other Mindanao markets, including Cagayan de Oro. In Panabo, Davao del Norte, about 70 per cent of the 177 houses at the Ameria residential component of its Agria township had been turned over. Site development at Agria Gardens was 71 per cent complete, with completion targeted for the third quarter of 2027. The project had generated P395.12 million in total contract value from 95 contracts.
The township also hosts the University of the Philippines Professional School for Agriculture and the Environment (UP PSAE), where construction of Building 1 was 33 per cent complete, with completion targeted for the first half of 2027. Land development at Kahi Estates in the Davao region was 76.27 per cent complete, while its sales absorption rate stood at 67 per cent.
On Samal Island, construction of Building C at Bridgeport Park was 80 per cent complete, while unit turnovers were under way at Buildings A and B. The development had an overall sell-through rate of about 88 per cent. Site works at the adjacent Harborview Estates Phase 2 were 74 per cent complete, with property sales scheduled to begin in January 2027. An amphitheater at the development was 90 per cent complete.
DLI also cited the ongoing construction of the Samal-Davao Connector Bridge as a factor affecting accessibility to its developments on the island. The bridge was about 65 per cent complete and targeted for completion in 2028.
