By: Faye Almazan
Publication: The Manila Times
February 19, 2022
DAVAO-BASED real estate firm Damosa Land Inc. will focus largely on its residential and township projects this year, as it kicks off with the launch of its mixed-used development, Bridgeport.
In a virtual briefing on Friday, Damosa Land president Cary Lagdameo said they will continue to invest heavily in their residential and township projects this year.
The company reported an increase in sales in both its vertical and horizontal projects last year and recorded a 10 percent higher total residential sales year on year.
Meanwhile, Lagdameo said they will focus on shoring up their occupancy and efficiency for their office and industrial segments.
Lagdameo told reporters that Damosa Land will earmark around P1 billion for its capital expenditure this year, a bulk of which will be for its township projects that started two years ago.
The company is also expecting a “significant increase” in reservation sales this year as it set its target to P2 billion across various projects from last year’s target of P800 million.
“We believe that that’s going to be an achievable one, because of the impending recovery, and second, because of the launch of the new project,” Lagdameo explained.
Damosa Land’s banner project for the year is the 13-hectare mixed-use development, Bridgeport, which will feature low-density condominium buildings, open lots, a condotel, commercial space, and a small marina.
