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Cebu Landmasters to convert golf course in Davao, Philippines, to CBD

Cebu Landmasters Inc. is transforming a golf course in Matina, Davao City, Philippines, into a mixed-use business park as part of a joint venture agreement with four local companies.

Under the deal signed with Plaza De Luisa Development, Yuson Newtown Corp., Yuson Strategic Holdings Inc. and Davao Primeland Properties Corp., Cebu Landmasters will amalgamate the 17.1-hectare Matina golf club with an adjacent 2.2-hectare land parcel and transform the larger site into a central business district.

The partners intend to further expand the planned Davao Matina Business Park, and Cebu Landmasters is in talks with owners of neighboring land plots to buy their properties for the development.

The proposed business park is designed to include seven office buildings, four retail buildings, 29 residential condominium buildings, six townhome-style buildings, a hotel, a convention center, a medical building and a civic/community center.

Work on the first phase of the project is slated to commence in 2018, with completion scheduled by 2021. Phase one comprises an office building, a retail building, a residential condominium and a civic/community center.