Camella Homes readies more projects for Mindanao sites

Businessworld -- Camella Homes, Inc., the low-cost unit of Vista Land & Lifescapes, Inc. is looking at building more projects in Mindanao this year.

The company is initially targeting sites in Cagayan de Oro City and Ozamiz City in Misamis Occidental, Koronadal in South Cotabato, Valencia in Bukidnon and Butuan City in Agusan del Norte as part of its mixed horizontal and vertical expansion plans, Marlon B. Escalicas, general manager of Camella Homes Davao, said.

In Cagayan de Oro for example, the company is planning a vertical development sometime this year, which is seen to employ green design. This will reportedly include solar panels and ultraviolet-resistant glass that keeps internal temperatures cool.

Davao City is also included in the blueprint as the company’s plans to set up two offices to serve the north and south portions of the area.

This will make it easier to facilitate inquiries and applications as well as scope for new sites for expansion, Mr. Escalicas said.

“We acquired 20 hectares near the Davao International Airport.

The development is now in the works and we are looking to opening it towards the end of third quarter or fourth quarter this year,” he said.

The cost of developing horizontal projects is pegged at around P100 million per hectare, he said.

Earlier, Camella Homes similarly announced it would expand its Mediterranean-inspired subdivision project in a nine-hectare land in Mintal district.

The site is about 30 minutes away from Davao City’s downtown. The company has allotted P500 million sourced internally to build more units.

Plans for other potential investment areas, outside of Davao and Cagayan de Oro, could change depending on the availability of land and market demand. Buyers of the company’s residential units, Mr. Escalicas said, are mostly entrepreneurs, overseas contract workers, foreigners, and investors who purchase units to rent out.

Cynthia A. Villar, mother of Vista Land president and chief executive Manuel Paolo A. Villar, for her part said the family-owned business is bullish on Mindanao, citing existing communities Camella Homes has developed in the cities of Cagayan de Oro, Davao, Tagum, Butuan and General Santos.

For more details on Camella Homes projects, you may e-mail reby_ramirez@yahoo.com or contact her at 0922.883.9308 / 0916.4044.555 / 0919.699.3572 / 4044-534.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.