DAVAO CITY — Camella Condominiums, a unit of Vista Land and Landscapes, Inc., is getting ready to develop the commercial component of its five-building condominium complex in Davao City.
“We are almost done with the residential portion and the next phase of Northpoint will be the development of the commercial (space),” Marlon B. Escalicas, COHO by Vista Land head for Visayas and Mindanao, said in a recent interview.
Camella Northpoint, Vista Land’s first condominium project in the city that started development in 2014, is located near several major shopping malls.
“We are going to put as promised, there will be a coffee shop (Vista Land brand) Coffee Project, and retail shops. Since it is nature(-themed), it’s going to be an al fresco type of lifestyle commercial development with retail shops, walkables, restaurants, services, spa,” Mr. Escalicas said.
He added the commercial component will provide an alternative to Camella Northpoint residents as well as non-residents who prefer a less crowded, more open space dining, meeting, and shopping experience.
Vista Land is also planning to build a boutique hotel in the complex, primarily envisioned to serve guests of the condominium residents.
The fifth and last condominium tower is in the final stage of construction with the units scheduled to be turned over to owners before the end of the year.
For the COHO brand, which are medium-rise condominiums with amenities such as a co-working space in a coffee shop and a one-stop home improvement store, Mr. Escalicas said they are pushing sales by positioning these units as “income-generating properties” through leasing opportunities.
“Rental is really very promising. It’s worth your money investing in COHO because it is located in prime locations. Hopefully that will interest the buyers,” he said
The company has at least four COHO projects lined up in Davao City.
Mr. Escalicas noted the Vista Land group also has its own leasing and housekeeping services which homeowners can tap to manage their units. — Maya M. Padillo
Article and Photo originally posted by Business World last September 29, 2020 12:04am.