Property developer to build high-rise condo, BPO tower in Davao City

DAVAO CITY (MindaNews / 4 Jan) – The Accendo Commercial Corp., a joint venture company of Ayala Land and Anflocor, will launch this year two big ticket projects that will rise within the 10-hectare Abreeza Complex located at the heart of downtown Davao, following an economic boom here.

Accendo Commercial Corp. general manager Luigi C. Escano told reporters on Wednesday the company will invest in another two-tower high-rise condominium and a business process outsourcing (BPO) building.

He said they are expecting that the groundbreaking will take place within the early part of 2017.

The company executive refused to give further details of these major projects and how much capital will be poured in.

The new twin-tower high-rise condominium will be called “Patio Residences.” Each building will have 28 storeys, and the third to rise within the 10-hectare property following 27-storey Abreeza Place 1 and 2 and the 26-storey Abreeza Residences.

The second BPO tower, meanwhile, will be the second corporate center with about 10 storeys.

Escano said there are BPO players already who signified interest to occupy the tower.

According to him, the first building of the Abreeza Place was already sold out while the second building already nears completion and will be turned over within the first quarter of this year.

Within the 10-hectare property is a three-storey mall, an eight-storey corporate center, and a 12-storey Seda Hotel.

“We are very bullish about Davao, that’s why our expansion is continuous because there is really a market potential,” he said.

Davao City Investment Promotions Center (DCIPC) officer-in-charge (OIC) Lemuel G. Ortonio said in an email that the city has experienced a construction boom after President Rodrigo R. Duterte won the presidential race in May 2016.

“PRRD (President Rodrigo R. Duterte) has created a buzz on Davao City and became the perfect marketing ambassador for the city’s investment and tourism potential. With the increased awareness comes increased interest in Davao City for foreign investors to pour in new potential developments,” he said.

The DCIPC chief said that the city grew by 7 percent with 39,887 new and renewed businesses and a capitalization of P232.886 billion as of third quarter in 2016, whereas it was only 37,094 businesses recorded in the same period in 2015. (Antonio L. Colina IV / MindaNews)