MATINA, Davao City (November 23, 2018) – Leading VisMin property developer Cebu Landmasters, Inc. (CLI) in partnership with Davao’s Villa-Abrille family through joint ventures YHEST Realty & Development Corp and YHES Inc., fortified its presence in Davao City as it kicked off two key landmark projects in the second fastest-growing economy in country in partnership with a prominent Davao family.
The partners broke ground, graced by Mayor Sara Duterte-Carpio, on a former golf course that will be transformed into the 22-hectare Central Business District called Davao Global Township (DGT) and unveiled a vibrant mixed-use lifestyle destination The Paragon Davao. The latter will be anchored by a hotel managed by world-renowned The Ascott Limited, a residential tower, a lifestyle mall, and convention center.
Jose Soberano III, CLI chairman, and CEO said: “Davao City is the economic center of Mindanao and we are grateful for opportunities made available by our partners, members of the Villa-Abrille family, to work in this dynamic market. We jointly envision the Davao Global Township to be the premier business district of the city in the medium term. As the city continues to progress, we also see great demand for The Paragon Davao, a new urban hub and lifestyle destination to address the market’s evolving aspirations and goals.”
Fred Yuson, president of YHEST Realty & Development Corp and YHES Inc. also said: “We are pleased to partner with VisMin’s best developer Cebu Landmasters to bring projects to our city which will spur development in this part of the Davao metropolis. We consider this our way of giving back to Davao.”
“The Soberanos are not only our partners, but they are also family to us,” highlighted Yuson.
Members of the well-established Villa-Abrille family are heirs of Juna Villa-Abrille, among the premier city’s pioneer residents and one of the biggest landholders in Davao City. Juna was a trader, large-scale abaca planter who acquired a strategic landbank in Matina when a resident fleeing trouble in Mindanao sold him the property. His children eventually turned parcels of that property into a residential subdivision and a golf course, Davao’s first. They also donated key lots for civic and community projects to prime Davao City’s development through the years.
Davao Global Township (DGT)
CLI and members of the family under the joint venture YHEST Realty and Development Corp. will commence Phase 1 of the 22-hectare Davao Global Township located in Matina district that will feature an office tower, two residential towers, retail buildings, a cineplex mall, and a convention center. These edifices will yield a gross floor area of 93,000 square meters at an estimated cost of P10 billion and are set for completion by the end of 2022.
The township is close to downtown Davao City and is only a 30-minute drive from the Davao City’s Francisco Bangoy International Airport.
The Paragon Davao
Nearby is the mixed-use The Paragon Davao, which CLI is developing in partnership with Davao Filandia Realty Corp. and Yuson Strategic Holdings Inc. under the joint venture YHES Inc. The project is expected to help pump-prime economic activity in southeastern Davao City where Davao Global Township is also located. The Paragon Davao’s first phase, with an estimated cost of P2.6 billion, will house a 26-story residential tower to be named One Paragon Place; a 263-room Citadines Paragon Davao to be managed by The Ascott Limited – one of the world’s leading lodging owner-operators; The Paragon Davao Convention Center; and The Paragon Davao Lifestyle Mall.
The project with a 1.9-hectare lot area is set for completion in 2022. The lifestyle destination was conceptualized and designed by Callison RTKL in collaboration with top Philippine architectural firm RMDA.
CLI’s partners said in previous statements that they had been approached by other developers but chose the Cebu-based listed real estate company because of its keen feel of the VisMin market. This is evidenced, they pointed out, by the quick take-up of their first joint venture project together in the city—the MesaTierra Garden residences in Davao—which is now 96-percent sold.