Saturday, January 31, 2015

Davao Park District gets 2nd condo tower

A wholly owned subsidiary of Megaworld Corp., Suntrust Properties Inc. has launched the second tower of One Lakeshore Drive. Designed with four towers in total, the forthcoming condominium stands as the primary residential component in Davao Park District.

At 27 stories, each tower consists of 350 units ranging from 27 square meters (for studio units) to 76 square meters (for two-bedroom units). A third-level amenity deck comes with a 20-meter infinity pool, a wooden deck pool area, a wet lounge, a kiddie pool, an outdoor fitness station, a gazebo, a children's playground, and pocket gardens. The infinity pool features a view of the one-hectare man-made lake in the township, according to Megaworld.

"We are very happy with the overwhelming reception of Davaoeños to our first residential project in Davao Park District. Our experience is far beyond what we have expected," issued Suntrust president Harrison Paltongan in a press conference.

The first tower reportedly sold up to 70 percent of its units by November of 2014, urging the developer to move forward with the second tower to address the robust demand.

Paltongan stated that the property firm is eyeing P2 billion in revenues from One Lakeshore Drive in 2015. 

Meanwhile, units on the first tower will be turned over to buyers on the last quarter of 2019.

Davao Park District, costing P15 billion, stands as Megaworld's first masterplanned township in Mindanao. It is comprised of 11.2 hectares devoted to residential, retail, business, and educational components.

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