FOLLOWING the success of its first five mid-rise buildings, homegrown property developer Escandor Development Corp. (Esdevco) is up for building its expansion development, the Enclaves Tower in Davao City.
Standing 22-storey tall in a 1.7 hectare property, the Enclaves tower will be the firm’s upscale project. It will be an additional development brought by the property’s sale upswing.
Matina Enclaves project director Gerald Kent Garces said in an interview with VoxPop Davao last February 24 at the sidelines of the project’s open house, sales of the soon-to-rise tower is already drumming up.
Garces said just weeks after the new project was introduced to the market in early February, some 40 units were already pre-sold out of the 320 units available.
“We were able to maintain the momentum last year, in terms of sales. Interest of people here, especially in our location is increasing, so we decided to expand by acquiring a property just adjacent to the Enclaves Residences,” Garces said.
Garces added the property’s location (Colonel Emilio Escandor St., Davao Golf Drive to Tulip Drive) lured most for prospective investors because of its highly accessible and conducive living features.
“We offer more than what is common, we position Enclaves as a developer that provides more spaces than other projects here. We give more justice to the buyers because we believe it is hard-earned,” Garces said.
For the additional vertical development, 43 percent will be devoted for condo-residential development while 57 percent will be for amenities and open spaces.
The project director also said that its first five midrise buildings are 98 percent sold.
“This shows the evolving landscape of the market’s purchasing power. Actually, we are overwhelmed and surprised about how the market is very interested in condo investment,” he said.
Garces added the developer’s focus is more on the construction as most of its buildings were already sold substantially.
For its building 1, construction already nears completion and is scheduled to be awarded to unit owners by April 2017. While Building 2’s construction is on-going with unit turn-over schedule set by end of this year.
The building 3, on the other hand, will be built by March and is scheduled to be awarded by 2018.
Moreover, construction of the Matina Enclaves Residences’ building 4 and 5 is set by December this year. Turn over schedule will be by 2019.
Matina Enclaves is a 6-hectare (including the recent 1.7-has acquisition) residential community development. It offers four residential areas: an open lot development through its pocket development called “The Plains,” single-detached houses in “The Courtyard”, a condominium living concept through its Medium-Rise Condominium Project, called “The Enclaves Residences” and a high-rise condo-residential dubbed as “Enclaves Tower.”
