DAVAO CITY - PHINMA Property Holdings Corporation’s (PHINMA Properties) said it is preparing to launch new residential townhouse and single attached home developments in Tugbok District here before the year ends.
This was confirmed by PHINMA Properties President
and CEO Raphael Felix, who said the project is part of the company’s evolution
to fit market needs, adding the shift in focus to horizontal developments
outside of the National Capital Region (NCR) is seen to further boost economic
development not only Davao but in San
Jose town in Batangas province as well.
“Our move is timely as more home buyers seek spacious living spaces away from congested cities. Through these new regional residential projects, we also intend to help create a more balanced or equitable level of development across the country,” Felix said.
Davao City Councilor Danny Dayanghirang confirmed this trend, saying that Covid-1919 has shifted many home buyers’ preferences towards favoring more space and comfort outside of crowded urban areas.
After more than a year of lockdowns, Dayanghirang also stressed the need to focus on recovery of the local economy, and described how real estate investments are helping the region bounce back. As chairman of the City Council’s Finance Committee, Dayanghirang has helped to enact several resolutions and ordinances to mitigate the pandemic’s effects particularly on the business sector.
“The housing industry is one of the pillars of economic growth in our city, as this sector propped up employment as well as the construction sector. New developments help to create regional growth hubs, which in turn generate more livelihood and various ancillary opportunities starting from the importation of raw materials to construction of finished products,” Dayanghirang said.
“The mushrooming of Phinma projects propels economic activity not only for the city but for the whole of Region 11 as well. Construction of horizontal infrastructure brings in investments, creates jobs and increases the value of land. This private sector version of ‘Build Build Build’ means a lot for a city that is on the road to recovery,” he added.
Philippine Statistics Authority figures show that, while the Davao region’s economy contracted by 7.6% in 2020 due to the global pandemic, it had been growing at an average of 8.1% since 2016. The region has remained a popular investment destination for Philippine and multinational companies alike through the years. Dayanghirang explained that while some businesses suffered due to the pandemic, many other businesses have thrived under the ‘new normal’ set-up.
Dayanghirang commended companies such as PHINMA Properties for introducing a high standard of residential developments to the region, which combine modern Filipino style with future-proofed home features and fully-integrated amenities. “We welcome the presence of PHINMA Properties in our communities, and appreciate how its professional and highly-technical team has helped to create more quality and durable townhouses and single-attached homes for the people of Davao,” he said. (Malou Cablinda)
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