Old street in Davao City witnesses construction frenzy

Businessworld -- The old Claveria street renamed as Claro M. Recto at this city’s central business district is going through a revival with new structures on the rise.

Between now and next year, two business hotels are expected to open on the street, just among the many changes taking place.

Hotel Uno of 3S Realty Corp. will open within this month in time for the annual ‘Kadayawan sa Dabaw,’ said Jason C. Magnaye, chief of the Davao City Investment and Promotions Center.

Early next year, Davao Rogienel Corp. will then open its three-storey, 50-room Brooklyn and Walters Hotel, the company’s second hotel on the stretch.

It already opened last year the 50-room Blue Velvet hotel located just two blocks from the planned structure.

The P80-million Hotel Uno, which sits on a 3,726-square-meter lot, has 148 rooms, said Mr. Magnaye.

Neil S. Oropesa, president of Davao Rogienel, told BusinessWorld his company is committed to “revive” the old Claveria St., saying and that the new hotel’s inauguration would coincide with the opening of a small shopping mall on the same street also run by his company.

The mall, which will have about 3,800 square meters in leasable space, is near the three largest universities in the Davao Region and just a short walk from city hall.

Mr. Oropesa said his company decided to evaluate the investment prospects of Claveria St. noting he wants to “make a difference” in making the city’s old business enclave maintain its relevance.

Also investing in a project along the street is Avida Land, Inc., a subsidiary of Ayala Land Inc.

The firm nannounced it would build a twin-tower condominium in the area after it acquired a 6,000-square-meter lot from the Bank of Philippine Islands, also an Ayala company.

The project, the second for Avida Land in this part of the country, will have 1,053 residential units and would have modern amenities.

The company, whose timetable is to start the project early next year or late this year, is still waiting for the approval of its application for permits from city hall, said Apollo B. Tanco, its strategic management head.

Regarded as the busiest thoroughfare here notwithstanding its old structures, including some which are now dilapidated, Claveria St. is host to close to 40 bank offices, with most banking institutions maintaining two branches in a stretch less than a kilometer long. The street also hosts Marco Polo Hotel and Ateneo de Davao University.

For latest update on real estate development and its RA 9646, the Real Estate Service Act of 2009, visit www.ra9646.com.