By: Irma Isip
Publication: Malaya Business Insight
February 21, 2021
Davao-based Damosa Land Inc. is targeting to hit P2 billion in reservation sales this year across its development, more than double than last year’s P800 million, its president Ricardo Lagdameo said.
“We believe that’s achievable because of the impending recovery and because of the launch of the new project,“ said Lagdameo, referring to the Bridgeport mixed-use development which was unveiled last Friday.
Lagdameo also said the company is setting aside P1 billion in capital expenditure this year as it ramps up the completion of ongoing projects.
For Bridgeport alone, Lagdameo said Damosa Land expects to generate P3 billion in revenues upon completion.
He added the company has a land bank of about 100 hectares.
Damosa Land’s ongoing projects include Damosa Diamond Tower; the agritourism component of Agriya, Naturetainment, and the commercial center of Anflo Industrial Estate.
The company also plans to expand its Regus Centers co-working sites in Mindanao, tapping into the market of other key cities in the region such as General Santos and Cagayan de Oro.