Camella tapping ‘RFO’ buyers for Davao project

Subscribe Now August 31, 2016 at 05:23pm

Vista Land & Lifescapes, Inc.'s Camella unit has started to cater to Davao's ready-for-occupancy (RFO) market, a still small -- but expected to grow -- segment of buyers who are ready to make the downpayment within a few months and move in.

“It may not be the majority of our market, but we want to cater to them. In our existing projects, we are going to build advanced construction units like RFO because of the ‘present happenings’ in Davao where we observed there are people who want to (immediately) migrate here in Davao (City),” Marlon Nino B. Escalicas, Camella Southern Mindanao cluster head, said in an interview.

Mr. Escalicas was referring to the election in May of President Rodrigo R. Duterte, who was mayor of the city over the last two decades.

RFO clients need to complete the downpayment within three to six months, while regular buyers have up to 18 months.

“It’s the same price with the regular (housing) units, but the advantage is the house is there already. RFO can be availed through bank financing or Pag-IBIG (the government-run Home Development Mutual Fund),” Mr. Escalicas said.

One project that already has RFO units is Camella Cerritos, a horizontal development in Mintal located at the north-western side of the city, with houses ranging from P1 million to P4 million each.

“Right now we only have a limited inventory for RFO, but what we’re doing now, we will be doing advanced construction even though there are no buyers yet. We saw a market for RFOs that is why we are going in that direction for the next few months and the rest for the year,” the Camella official said.

Meanwhile, Camella Davao is preparing to launch another horizontal project in the Catalunan Grande area and another condominium project in the downtown area.

Land development and construction are ongoing for the Camella Communal project in the north-central part of the city while planning for another vertical project along Ma-a highway is in the final stages.

“Our sales increased since Duterte assumed presidency. The last two months we were able to increase our sales 10% to 20% than the previous months in both horizontal and vertical developments. We see an influx of investors, our condominium project Northpoint is getting a lot of sales abroad, OFWs (overseas Filipino workers) and even out-of-towners,” Mr. Escalicas said.


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