Damosa eyes 20% growth in revenues

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Mindanao-focused developer Damosa Land Inc. eyes to grow its revenues by 20 percent this year as it is poised to launch four more projects, two of which are residential projects.

Ricardo Lagdameo, Damosa Land president, in a press briefing said the company is allotting P1 billion in capital expenditure this year to fund ongoing and new projects.

Lagdameo said this is slightly lower than the P1.5 billion capex in 2023. Last year, growth was at an impressive 50 percent.

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Without disclosing the figures, Lagdameo said Damosa Land has recovered from the pandemic in 2022 in terms of revenues which hit record in 2019.

Damosa Land expects revenues of P4 billion from Agriya Gardens and P1.2 billion from Kahi Estate, both residential projects within the next two to three months.

The company will also launch a fourth site for its flexible office space business in partnership with International Workplace Group in its Diamond Diamond Tower in Davao City.

Lagdameo said this will add 360 working stations and 40 to 48 private office spaces.

Lagdameo said Damosa Land will launch this year a 100-key hotel in Samal Island.

Agriya Gardens is a 12-hectare development within Agriya Estates in Panabo comprising 404 house and lot units priced at P7.5 million to P15 million while Kahi Estates is a high end, low-density residential project comprising 48 units in Davao City with cuts of 400 to 600 square meters (sq.m.) open lots priced at P45,000 to P50,000 per sq.m.

Both projects are set to be launched within three to four months.

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