Developer bullish on Mindanao market

Damosa Land Inc., the property development arm of Davao-based ANFLOCOR Group of Companies, plans to expand in Mindanao through digitalization efforts and increased demand for "green" and sustainable projects, President and CEO Ricardo F. Lagdameo said in a report by BusinessWorld.

"We're always trying to be innovative," Lagdameo told BusinessWorld in a Zoom interview. "We're trying to bring in new ideas that we learn abroad, and even just from projects in Metro Manila."

Lagdameo, a third-generation scion, leads Damosa, founded by his grandfather, the late Antonio O. Floirendo, Sr. The company specializes in mixed-use, residential, commercial, industrial and tourist properties.

He noted how their real estate developments have integrated sustainability features in the structure and in the overall design of their townships. "Our buildings are now green. We try to use less material, meaning less cement."

The Damosa Diamond Tower in Davao City has an Excellence in Design for Greater Efficiencies (EDGE) final certification for its eco-friendly features such as a green roof deck, solar power and rainwater harvesting.

Damosa properties also feature "sustainable communities," integrating practices such as urban farming.

"In our townships, we have an abundance of things just growing all over the place which are edible," Lagdameo said. "So, even when we turn over your house, you already have like a starter planter box where you can have things like vegetables and other produce."

On Sundays, local farmers are invited to Damosa's townships to sell their produce, he pointed out.

"We make sure that we're being responsible with the projects that we choose, how we build them and what's our contribution to the environment and the community," Lagdameo said.

The company also has a roster of younger members that help modernize its processes, such as digitalization.

Damosa has been marketing its projects through sales videos, virtual tours and mobile apps to reach more buyers. This has also helped streamline internal office processes, improving the company's operations.

The property developer is also looking at further expansion across northern Mindanao, including in Cagayan de Oro, to capture more investors.

"One of the questions that we always have is 'Is there an available market for all the developments we want to do? And when we look at our projects, we're not only looking at Davao City but we're looking at the neighboring cities as well," Lagdameo said.

Projects in Damosa's pipeline include Bridgeport Park, Kahi Estates, Agriya Gardens and its condominium-hotel project under the TRYP brand.

"Looking at 2025, it's going to be a busy year, but it will be another fruitful one."

Lagdameo cited optimism about the Davao property market, mainly due to local infrastructure projects that are expected to drive up property prices.