It is an exciting time for Matina, as the Davao Matina Business Park is coming into reality very soon!
AGREEMENT SIGNED
Cebu Landmasters Inc. (CLI) and four Davao-based companies signed a joint venture agreement to develop Davao Matina Business Park. It is set to be located in a 17.1-hectare area in — of course — Matina, Davao City.
CLI chairman and chief executive officer Jose Soberano III, together with Jason P. Huang of Plaza De Luisa Development, Frederick H. Yuson of Yuson Newtown Corporation and Yuson Strategic Holdings Inc., and Frederick H. Yuson of Davao Primeland Properties Corporation, inked the deal Monday of this week.
DAVAO MATINA BUSINESS PARK
It is expected that the property, which has long been used as a golf course since the 1960s and is now being transformed into a business park, would contribute to the economic and social development of the city.
The Davao Matina Business Park will house the following:
- 7 office buildings
- 4 retail buildings (indoor mall, cineplex mall, standalone, retail podium)
- 29 residential condominium buildings
- 6 townhome-style buildings
- a hotel
- a convention center
- a medical building
- a civic/community center
Development starts in 2018 and is expected to be done by 2021.
Also, CLI is acquiring a 2.2-hectare lot adjacent to the property that would expand the total project area to almost 20 hectares. In addition, it is negotiating the purchase of other adjacent lots to further expand the business park.
CLI is also the developer of other projects in Davao, such as:
- MesaTierra Garden Residences, a residential condominium in Jacinto Extension, and
- Project Riverside, a mixed-use development project along McArthur Highway in Matina
These projects will be completed by 2020 and 2021, respectively.
It truly is a busy time for CLI (and possibly other developers and institutions too) in Davao. So, let us prepare ourselves as we welcome new developments in our city in the coming years!
Info from CLI and PRWorks Inc.
