Euro Towers to invest P1B for condotel project
- Three Seven Realty
- Aug 23, 2017
- 2 min read
Prime real estate developer Euro Towers International, Inc. (ETI) will pour around P1.5 billion investment for the development of a residential component and renovation of the Apo View Hotel in Davao City.
“We’re targeting to start the construction next year,”Jesse G. Clamor, finance and administration director and acting director for sales of Eurotowers, told reporters at the sidelines of the recent annual awarding of top performers for Vivaldi Residences- Davao, ETI’s first condominium project in Mindanao, at the Apo View Hotel last week.
Clamor said the team is still finalizing the masterplan for the development project and expecting to complete the plan by the third quarter of this year.
“We’re planning to put up a total of three condominium buildings in the one-hectare area where the Apo View Hotel is now standing,” Clamor said.
While there’s no plan to demolish the current structure of the Apo View Hotel, he said six more floors will be added on top of the existing nine-storey tower of the hotel.
“We do not want to destroy Apo View because it is already part of Davao’s culture and history,” he added. The developer group, he said, will renovate the interiors of the hotel and build a separate hotel lobby and entrance.
“The renovation of the hotel actually started November last year,” he said. “The project will be implemented in phases.”
Meanwhile, the ETI will also construct condominium building on the same site.
“The condominium towers will have a separate entrance,”he said adding the mix-used development, wherein a hotel is constructed beside a condominium, is an ongoing trend abroad and Metro Manila.
Meanwhile, Roy L. Estanislao, ETI director for construction and development group said the towers will be developed into high-rise condominiums.
“We plan to retain the Apo View branding,” he said.
Read More: http://edgedavao.net/the-economy/2016/03/30/euro-towers-to-invest-p1b-for-condotel-project/
