Maryline Lim, general manager of Samantha Homes, said there is a large housing need in Davao City in the low-cost and medium-level markets.

Samantha Homes invested another subdivision project with 800 units in Bago Gallera, which was enrolled as Pag-IBIG City. The site will include a playground and multi-purpose hall that will later be turned over to the homeowners association.

She said their company caters to employees, the overseas Filipino workers and the self-employed.
The subdivision features include water facility sourced out from the Davao City Water District, an overhead transmission lines provided by the Davao Light and Power Company, underground drainage and concrete roads with curbs and gutter.

But Lim said they don’t just build houses to rake in profits so they make sue to introduce new designs and technology in their projects. In the pipeline next year is the subdivision project with 400 units in Panabo City.

All in all, Samantha Homes house accounted for 3,120 housing properties in Matina Aplaya, Barangay Lizada in Toril, Paligue in Padada, Davao del Sur, Catalunan Pequeno, Catalunan Grande.

Lim said they are careful with the supervision of the project because of the “buy back” policy of financial institutions.

She said when they sourced out development loan from the government financial institutions, like the Pag-IBIG Fund for that matter they pay particular attention to project development including the first years of repayments of homebuyers.

“What Pag-IBIG Fund had invested are the funds of the members and we make good of our investment because these are money of the Fund members,” she said.

But Lim claimed they always reach out to the homeowners to prevent foreclosure of properties.
She said owning a house now is very affordable with the reduced interest rates extended by the Pag-IBIG Fund the rebate extended to homebuyers who are “good payers.”

Meanwhile, Davao City Investment and Promotion Center head Roberto Teo expressed good prospects for real estate in 2009.

Teo in a separate interview said real estate will continue to pick up in Davao City next year. He said a new subdivision project with investment of P120 million will commence next year.

He also said that constructions of two the big investments on real property are ongoing while developers of new condominium projects have already shown keen interest for new construction here. (PIA)