Camella to build mall at Davao condo project

DAVAO CITY — A shopping complex that will host upscale shops will be built within Northpoint, a condominium project of Camella Communities at this city’s Bajada district. Marlon Nino B. Escalicas, Camella general manager for Mindanao, said the shopping center would also host "wellness" shops to cater to residents of the condominium. "We want them to experience the best in living within the community," Escalicas told BusinessWorld. The company plans to spend some P500 million for the project within the next two years. The one-hectare commercial complex, which will be carved out of the 2.8-hectare Camella property, will feature specialty stores, spas and other "wellness and character shops." The company is also spending P2 million to plant Caribbean pine trees as part of the property’s make-over. "This will be the only pine tree estate in the city," he said. "We are envisioning this to be a ‘real green project,'" he said, adding that the company had started building a club house that will form part of the commercial establishment. Escalicas said Camella would also rehabilitate the Big White House, a landmark in this city’s Bajada district located within the property. The property used to be owned by a Scottish who was a longtime resident. "The iconic white house was built in the 1900s, so the company thought it would be better to preserve it," he said. The first building of the project is about to be finished, with about 90 percent of the 120 residential units already sold. Escalicas said the company would turn over the units to buyers by September in time for the construction of the second building, which will have 149 units. Camella plans to build five smaller buildings within the property. "The turnover is very fast. The market is very appreciative of the project considering that it is within the area where all activities are found. Its location is very strategic," he said. He said the first buyers had already made a profit out of their investments considering units previously sold for P1.3 million now have a market price of about P1.6 million. Prices now range from P1.6 million for a 21-square-meter unit to P3.7 million for a 54-square-meter unit. Many of the buyers are businessmen from the city and nearby areas who want to own units near the city’s downtown. There were a few buyers from as far as Cebu and Manila, Escalicas said. Carlos Omar A. Vargas, president of the local chapter of the Chamber of Real Estate and Builders Association, noted that property development continues to boom with the city’s success in projecting itself as a suitable area for investments. — Carmelito Q Francisco, BusinessWorld