Damosa Land allots P4 B for Davao agri-tourism

MANILA, Philippines — Davao-based real estate developer Damosa Land Inc. (DLI) is spending up to P4 billion for the first phase of an 88-hectare agri-tourism development in Davao del Norte, the first of its kind in the country.

DLI head Ricardo Floirendo Lagdameo said the amount has been allocated for the development of the first phase of the township project located in Panabo called Agriya, which would have agriculture as its main theme.

He said part of the first phase of Agriya would involve the development of an agro-tourism site which should be completed within the year.

“Davao being really the center of agriculture in the Philippines or Mindanao being center of agriculture, there is not really that many agri-tourism projects to go to…When people say they’re coming to Davao, where can we go, this is one of the places we want to promote,” he said.

With Davao City becoming congested, he said DLI considered it timely to start the project.

While the master plan for Agriya was completed in 2009, it was not pursued then because it seemed ahead of its time.

Apart from an agro-tourism site, Agriya’s first phase development would also involve building residential projects, commercial spaces and an educational institution.

For the residential projects, Lagdameo said the company is offering house and lots targeted for the high-end market.

DLI saw an opportunity to cater to this segment of the market as no company currently offers products to meet the demand.

Lagdameo said the company has started pre-selling for the residential units which cost around P15 million each.

“Initially, we will be targeting the local market in Panabo then, branching out to greater Davao region,” he said.

For the educational institution, DLI has partnered with the University of the Philippines (UP) Los Baños to set up a school for teaching agri-related courses.

Original Article Published in The Philippine Star on August 30, 2019

Written By: Louella Desiderio

Article Link: https://www.philstar.com/business/2019/08/30/1947491/damosa-land-allots-p4-b-davao-agri-tourism


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