Suntrust unveils P2.6B Palm City project in Tagum
Suntrust Properties Inc (SPI) wholly owned by Megaworld Corporation launched its first joint venture with a local realty developer for the development of Suntrust Palm City in Tagum City.
Together with its partner-landowner LemuelPodador, president of PNS (PodadorNavarete Santiago) Land Development Inc., Suntrust is set to open their newest development in a 27.7-hectare area in Purok Capitol Barangay Mankilam.
“We are very thankful with our partners that they agreed that we will take care with the development, land development, and doing the houses, and all of the amenities. Suntrust will lead in the development,” lawyer Harrison Paltongan, president SuntrustEcotown Developers, said in an interview.
Podador said more joint ventures are between PNS and Suntrust are in the pipeline.
Based from their initial calculation, Podador said the capital expenditure would reach about P2.6 billion and part of the budget will be used to acquire the property.
Paltongan said they are just threshing out some revisions on some documents to fit to the kind of development they have envisioned before the development starts. He said the project would start with the development of the main road and the model houses.
“So that our brokers would have something to show to our buyers,” Paltongan said.
He said the completion of the land development is targeted in three to four years. The houses may take some time because that is dependent on the payment by each buyer of the 20 percent downpayment, he said.
The initial 27.7 hectares Palm City will be composed of three enclaves: Bismark Palm, Royal Palm and Phoenix Palm. The name of the community enclaves is taken from a hundred of the royal palm trees lined in Tagum’sDaangMaharlika highway that adds the city’s image of being the Beverly Hills of the Philippines.
All in all the enclaves will house 1,300 housing units.
The community street names will be patterned with the famous streets of Beverly Hills in Los Angeles in California that include Beverly Boulevard, Rodeo Drive, Wilshire Boulevard, Mulholland Drive and Hollywood Boulevard.
Other features of the subdivision will include resort-like amenities such as a lap pool, children’s pool, basketball court, parks and playground, and a community clubhouse.
Suntrust Palm City will offer house models that are spacious and well-planned that allow maximum lighting and free-flow air by the use of wide doors and windows.
Model houses vary depending on the floor areas: a duplex house of 88 square meters and a usable floor area of more than 86 sqm.; a two storey single detach house with a floor area of 90.65 sqm usable floor area and another house model of 155.7sqm. usable floor area. These units are competitively priced as Suntrust is offering to develop affordable homes in Tagum City.
“There were misconceptions before that affordable may mean low-cost housing. Affordable here is not low-cost but what we mean in Suntrust for affordable is that our products especially in the houses and lot packages that we will do will actually be catering to the lower, middle and higher market but the price of that quality for middle and higher market is affordable versus other products,” said Paltongan.
Suntrust Palm City is only a stone’s throw away from Davao del Norte’s capital where most of government offices are being housed and a close proximity to cultural centers such as Tagum City Trading Cultural Center Pavilion, and Tagum City Freedom Park, education institution, health center, and sports complex.
“Tagum City’s dynamism and booming economy make it very suitable and ready for Suntrust community. Suntrust Palm City will reflect the modernity and luxurious lifestyle of Tagum home living while maintaining the affordability of residential units which is a trademark of a Suntrust brand,” Paltongan said. Maya M. Padillo
Suntrust Properties Inc (SPI) wholly owned by Megaworld Corporation launched its first joint venture with a local realty developer for the development of Suntrust Palm City in Tagum City.
Together with its partner-landowner LemuelPodador, president of PNS (PodadorNavarete Santiago) Land Development Inc., Suntrust is set to open their newest development in a 27.7-hectare area in Purok Capitol Barangay Mankilam.
“We are very thankful with our partners that they agreed that we will take care with the development, land development, and doing the houses, and all of the amenities. Suntrust will lead in the development,” lawyer Harrison Paltongan, president SuntrustEcotown Developers, said in an interview.
Podador said more joint ventures are between PNS and Suntrust are in the pipeline.
Based from their initial calculation, Podador said the capital expenditure would reach about P2.6 billion and part of the budget will be used to acquire the property.
Paltongan said they are just threshing out some revisions on some documents to fit to the kind of development they have envisioned before the development starts. He said the project would start with the development of the main road and the model houses.
“So that our brokers would have something to show to our buyers,” Paltongan said.
He said the completion of the land development is targeted in three to four years. The houses may take some time because that is dependent on the payment by each buyer of the 20 percent downpayment, he said.
The initial 27.7 hectares Palm City will be composed of three enclaves: Bismark Palm, Royal Palm and Phoenix Palm. The name of the community enclaves is taken from a hundred of the royal palm trees lined in Tagum’sDaangMaharlika highway that adds the city’s image of being the Beverly Hills of the Philippines.
All in all the enclaves will house 1,300 housing units.
The community street names will be patterned with the famous streets of Beverly Hills in Los Angeles in California that include Beverly Boulevard, Rodeo Drive, Wilshire Boulevard, Mulholland Drive and Hollywood Boulevard.
Other features of the subdivision will include resort-like amenities such as a lap pool, children’s pool, basketball court, parks and playground, and a community clubhouse.
Suntrust Palm City will offer house models that are spacious and well-planned that allow maximum lighting and free-flow air by the use of wide doors and windows.
Model houses vary depending on the floor areas: a duplex house of 88 square meters and a usable floor area of more than 86 sqm.; a two storey single detach house with a floor area of 90.65 sqm usable floor area and another house model of 155.7sqm. usable floor area. These units are competitively priced as Suntrust is offering to develop affordable homes in Tagum City.
“There were misconceptions before that affordable may mean low-cost housing. Affordable here is not low-cost but what we mean in Suntrust for affordable is that our products especially in the houses and lot packages that we will do will actually be catering to the lower, middle and higher market but the price of that quality for middle and higher market is affordable versus other products,” said Paltongan.
Suntrust Palm City is only a stone’s throw away from Davao del Norte’s capital where most of government offices are being housed and a close proximity to cultural centers such as Tagum City Trading Cultural Center Pavilion, and Tagum City Freedom Park, education institution, health center, and sports complex.
“Tagum City’s dynamism and booming economy make it very suitable and ready for Suntrust community. Suntrust Palm City will reflect the modernity and luxurious lifestyle of Tagum home living while maintaining the affordability of residential units which is a trademark of a Suntrust brand,” Paltongan said. Maya M. Padillo
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You are invited!
Project presentation for One Lakeshore Drive at Park Inn by Radisson Davao, 6 M at the Pool side. Please text 09206653578 for free seat reservations.
One Lakeshore Drive opens Showroom
GIVING future home dwellers a glimpse of One Lakeshore Drive, Suntrust Properties Inc., a wholly-owned subsidiary of Megaworld Corp., opened recently a showroom on CM Recto St., Davao City.
Upon entering the showroom, one is welcomed by a posh and modern interior, which reflects the developer's desire to offer a comfortable condo living experience for the Dabawenyos.
The Suntrust's One Lakeshore Drive is the residential component of P15-billion Davao Park District (DPD), Megaworld's 11.2-hectare township project in Lanang, Davao City.
The mixed-use township will rise in a 7.2-hectare sprawl. The residential area will have four towers, each with 21 floors and three high speed elevators.
Suntrust is built around the concept of "live, work, learn, and play," which will come complete with exclusive amenities such as swimming pool and gym for homeowners. The development will also be dotted with fine dining restaurants, school, and the Davao Finance Center, a 16-storey building for offices. There will also be a one-hectare man-made lake. Suntrust has some pockets of land, reserved for future developments that will be developed depending on the needs of the residents.
Megaworld has landed in the city mainly for its peace and security situation and for its rosy economic performance as the center of commerce in Mindanao. "It has the biggest university in Mindanao, most modern medical institutions, all these constructions are going on, and it has the lowest crime rate. A good place for people to live," Suntrust President Harrison M. Paltongan said.
Published in the Sun.Star Davao newspaper on May 11, 2015.
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| at CM Recto St., Davao City (besides D Morvie suites) |
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