By Beatriz Marie D. Cruz, Reporter
DAMOSA LAND, INC. is looking to expand in Mindanao through digitalization efforts and increased demand for “green” and sustainable projects, according to its chief executive officer (CEO).
“We’re always trying to be innovative,” Damosa President and CEO Ricardo F. 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.”
Mr. Lagdameo is a third-generation scion leading Damosa, the property development arm of Davao-based ANFLOCOR Group of Companies, which was founded by his grandfather, the late Antonio O. Floirendo, Sr. Damosa 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 environment-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,” Mr. 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 where they could 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,” Mr. 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,” Mr. Lagdameo said.
Projects in Damosa’s pipeline include the 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.”
Mr. Lagdameo cited optimism about the Davao property market mainly due to local infrastructure projects that are expected to drive up property prices.
These include the modernization of the Davao International Airport and the public bus rapid transport system.
Infrastructure development is also expected to improve mobility in the area, Mr. Lagdameo said, adding that this would solve the province’s growing traffic problem.
“Over the next few years, the properties that will be developed here will really benefit from all of that.”
Another unique selling point of the Davao property market is its easy access to key areas like beaches and mountains, Mr. Lagdameo said.
“When you’re in Davao City, you can actually invest in, say, a beachfront property that’s very close to the city.”
In contrast, in Metro Manila, one needs to drive to nearby provinces like Cavite and Batangas to access beachfront properties, he pointed out. “The range of products here is very diverse and you can get it all within the same city.”
Mr. Lagdameo said residential projects are the strongest for Damosa, making up about 70-75% of its revenue. Commercial projects have contributed as much as 30% to revenue.
While the revenue share of commercial properties is less than its residential segment, these have helped bring in more foreign investors, business process outsourcing firms and factories in the Davao region, Mr. Lagdameo said.
He said Damosa would focus on the Mindanao property market’s untapped potential.
“As a group, we have properties in Metro Manila and in some other areas of Luzon… Those are properties that we’ll definitely be developing, just not in the near-term future,” he said. “We don’t just look at where the hot markets are. We create the markets.”