Discovery World plans 11-hectare Davao project

One Davao Townships Corp., a wholly owned subsidiary of Discovery World Corp., announced it is developing an 11-hectare modern community project in Davao City as part of its township expansion plans, according to a report by BusinessWorld.

The development is expected to generate up to P7 billion in real estate sales in various phases.

“The planned township will be the first luxury real estate project of its kind as One Davao pushes the region’s potential by integrating residential lots and mixed-use spaces,” Discovery World said in a disclosure on Wednesday.

The project will feature two areas: the West Village and the East Village.

“The West Village boasts of generous land cuts in a spacious yet private area. About 42% of the village will be dedicated to open spaces and amenities for upscale living. Nature-friendly features with a lush, green environment will reward residents with the benefits of outdoor living,” the firm said.

Meanwhile, the East Village will have mixed-use and commercial spaces and will serve as a “leisure hub with all desirable necessities within arms’ reach.”

“Discovery World is coming in strong in Mindanao and will explore more townships and regional developments in the years ahead,” the firm added.

Discovery World is engaged in the hotel and resort business through brands Discovery Shores Boracay, Club Paradise Palawan, and the cruise business through Discovery Fleet. It is a subsidiary of JTKC Equities, Inc., a holding company investing in real estate companies, predominantly in the leisure and hospitality sector.

Apart from One Davao Townships, Discovery World’s subsidiaries include Euro-Pacific Resorts, Inc., Palawan Cove Corp., Discovery Fleet Corp., Cay Islands Corp., Sonoran Corp., Long Beach Property Holdings, Inc., Lucky Cloud 9 Resort, Inc., Balay Holdings, Inc., and Discovery Hospitality Corp.

Discovery World shares dropped by 4.22% or seven centavos to close at P1.59 on Wednesday.