Damosa Land targets full sell-out of Samal condotel units this year

By Almira Louise S. Martinez, Reporter

DAVAO-BASED property developer Damosa Land, Inc. (DLI) said it is targeting a full sell-out of units in its newly launched condominium-hotel project TRYP by Wyndham Samal this year, citing growing interest in beachfront and resort-style properties in the region.

“Just for this month, I mentioned we have about 30% that’s already sold, that’s already beyond our expectation, and that’s even before doing the main project launch,” DLI President Ricardo F. Lagdameo told BusinessWorld last week.

“It’s very encouraging that we will be able to hit our 100% target this year,” he added.

Located in Samal, Davao del Norte, the project aims to offer an international hotel-style living experience in one of Mindanao’s emerging tourist destinations. It will be the second TRYP by Wyndham hotel in the Philippines.

The four-star condotel development will have 100 rooms, interactive social spaces, meeting facilities, a 250-seat ballroom, fitness amenities, an infinity-edge pool overlooking the Davao Gulf, and direct access to Azalea Beach.

The property is about 15 minutes from Davao City by private boat and 40 to 60 minutes via barge terminals.

Once completed, the Samal Island–Davao City Connector (SIDC) bridge is expected to reduce travel time from Francisco Bangoy International Airport to the island to about 25 minutes.

“When the experts talked about the trend of people wanting beachfront properties or island destination second homes, we really saw that,” Mr. Lagdameo said, citing strong demand in DLI’s separate Samal condominium project, Bridgeport Park, where about 90% of units have been sold.

Units at TRYP by Wyndham Samal will be included in DLI’s rental pool program, which the company said has been approved by the Securities and Exchange Commission. Under the program, unit owners may receive 40% of net room revenue, subject to hotel performance.

Unit prices start at P9.5 million. The company projects a potential 6% annual yield at 60% occupancy, along with 3% to 6% year-on-year capital appreciation.

“If you compare that with other investments like bonds, REITs (Real Estate Investment Trust), it’s a bit higher actually,” Mr. Lagdameo said.

“If we look at the occupancy rates here in the region, especially in the city hotels, the average for 2025 was closer to 70%.”

“We’re hoping that if our assumptions really play out and are correct, then we can give a very good return even at a modest occupancy of 60%,” he added.

The Samal condotel project is scheduled for completion in the fourth quarter of 2028 and is expected to open in the first quarter of 2029.

DLI expects most buyers to come from Davao and other parts of Mindanao.

“About 60 to 70% will come from Davao and the greater Davao region, and then we have about 20% that are OFWs (Overseas Filipino Workers),” Mr. Lagdameo said.

“Investors from other Mindanao cities like to invest back here into Davao, maybe because there’s a lot more choices, and price appreciation has been very good,” he added.

The company is also studying the possibility of developing similar projects in other cities in Mindanao.

“If this becomes very successful, and I have a good feeling about it, maybe we can replicate it in other cities in Mindanao,” Mr. Lagdameo said.

“We like Cagayan de Oro, that could be one location. For us, it’s one of the, the very fast-growing, up-and-coming cities as well here in Mindanao,” he added. “We have General Santos projects, I mean, that could be one location, since we already do have a hotel there.”

Damosa Land is the property development arm of the Anflocor Group of Companies, with projects in residential, township, mixed-use, office, commercial, and industrial developments.