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PIA Press Release
2010/01/15

One Oasis Davao, a best seller for Filinvest

by Prix D. Banzon

Davao City (15 January) -- One Oasis Davao, a walk-up condominium consisting of six medium rise buildings (MRBs) of five floors each which Filinvest Land Inc. (FLI) constructed at Ecowest Drive, Ecoland, Davao City turned out best seller with units in Building A, all taken in less a month last year.

FLI Davao manager Allan Barquilla said the 120 units in the first completed building were all sold out in July 2009.

Business development officer Geraldine de Gorostiza of One Oasis Davao said they did not expect buying to be that fast but it only indicated that the Davao market was indeed ready for this.

"Buyers are now shifting into owning properties with more sophistication that is close to the city yet the price is still affordable," she said.

She attributed the increase in sales of their condo units to the location even as she said that they deliver what they promise as to kind and quality and the period of construction.

She said of the six MRBs, two were completed in 2009 with the third building almost completed as of this time. The construction of the other buildings will be the focus this year although they are considering changes from five to ten floors in the fifth and sixth buildings.

With capital expense at P1.5 billion the timetable for the completion of the six buildings is on 2013 and by that time all the units are sold, she said.

The Davao One Oasis is an Asian Tropical-inspired community. Only 35 percent of the 2.3 hectares will be used for the building sites and the rest are open spaces for the first class amenities of club house, swimming pool, parks and playground. It is a fully-secured community with 24-hour guarded access gates.

The buildings have stairways at both ends and an elevator. All units will have an assigned laundry area at the roof deck while parking lots at the ground floor and storage area at the basement are available for sale on a first come first served basis.

Gorostiza said that of the total number of buyers, 40 percent are from out-of-town, 30 percent overseas Filipino workers and 30 percent Davao buyers.

She said most of the out of town locators are those with children studying here. The site is near offices, schools, churches, clinic, commercial establishments and accessible to public transportation along Quimpo Boulevard.

Barquilla meanwhile said that their focus this year is on the MRBs and he said in the pipeline is another condominium project along Ma-a in a 1.3-hectare property which they target to finish construction in 2011.

On the other hand Barquilla is optimistic of their good performance this year considering that 2009 was a better year than 2008 noting a 15 percent increase of their gross sales against 2008 or about P850 million in estimate making them still No. 1 in the island of Mindanao among property developers. Corporate wide he said Davao is even ahead than Cebu in terms of sales.

The projects in Davao other than One Oasis consist of medium and high-end subdivisions namely Le Jardin, Fuente de Villa Abrille, Orange Groove, Ocean Cove and Kembali Coast.

With their target to be higher than what they had in 2009, he said they need to expand their market reach and will develop more sales channels for the OFWs and a more aggressive marketing in Davao City.

He said they also have projects in other parts of Mindanao like in Butuan, Cagayan and Zamboanga and will also consider areas like General Santos City and Surallah for their future projects.

On the other hand, Barquilla said their beach resort residences in Kembali Coast located at the Island Garden City of Samal is an attraction also to buyers in Manila and Filipinas married to foreigners.

He said the Phase 1 of the project is all sold out and the construction for the 2nd phase is ongoing this year. It is a Balinese theme development in a 50 hectares property in Kaputian, Samal with lot size of 1,000 square meters designed to give residents exclusivity and privacy they desire.

It also offers buyers the city's highest elevation that boasts of majestic view of both the sea and the entirely exhilarating island. It has a 1.8 km beach line and a pristine swimming pool that stretches to the beach front. It also houses an aqua sport shop that offers day rental and tutorial programs.

Enthusiast can do skiing, wake boarding and knee boarding where some branded sports facilities are available. It also has Canadian banana boats and Australian kayaks. Kembali Coast residents are serviced by 30-seater speed boat that will ferry them to and from the resort to Davao City. (PIA) [top]

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