A PROPERTY developer will embark on an eight-year real estate and resort development project in Mintal, Davao City.
In an interview Friday, JJ Atencio, president of Housing Development Corp., told reporters the company will initially invest P30 million for its housing and resort project.
The project will involve the construction of the biggest wake boarding facility in Southeast Asia and is expected to boost the local tourism industry.
Housing Development Corp. is the developer of Deca Homes in Davao.
“We started with the project two weeks ago. We are investing in Davao City because we are optimistic about the future of the city,” Atencio said, adding the project will entail the development of a 125-hectare property, five hectares of which will be for a wake board facility.
Atencio said the project, with its wake board facility, is something new for Davao City. A wake board is a smaller version of a surfboard.
“I am not after foreign tourism…I am doing this the local tourism industry. I want Dabawenyos to experience wake boarding,” Atencio said.
“We will make the experience affordable. We are thinking of a P500 fee for the whole day. The P30 million is just an initial investment. We can always expand the business. There’s still a lot of room for improvement,” he said.
Atencio said he believes people should invest more during depressed times.
“We are happy to note that the real estate industry in the Philippines is not as complicated as the US. The crisis in the US is severe because the major drivers of its economy, the real estate and financial sectors, were hit,” he said.
By Joy Romares-Sevilla (Sunstar Davao)