Luxury firm wants Kawit lot at SRP

CEBU, Philippines - One of the largest luxury property development companies in the Middle East wants to invest in a luxurious commercial structure in Kawit Island at the South Road Properties (SRP), Mayor Michael Rama announced yesterday.

 Rama said Damac Properties Company Senior Vice President for Business Development Ziad Shibil has expressed interest to develop a 10-hectare land in Kawit Island following their visit.

 Kawit Island, which has been integrated into the 300-hectare SRP, was originally reserved for quarantine services and marine-hospital service of the Department of Health by virtue of Executive Order 43, dated October 25, 1904.

 â€œWe would like to develop the site into a high-end mixed use project with restaurants, coffee shops and little marina to attract the visitors,” Shibil said in a letter.

 Shibil said they will submit the concept design for the project to the city government once their technical team will finish with the data gathering. 

 The design will be executed by Versace Home, a standard bearer of Italian excellence throughout the world, which partnered with Damac. It was founded in Milan in 1978 by Gianni Versace, one of the 20th century’s most talented designers.

 Rama said he already presented the project proposal to Tourism undersecretary Ma. Victoria Jasmin.

 Damac has gained a reputation for lavish waterfront developments, distinctive architectural landmarks and a wide selection of residential, retail and office addresses in Dubai, Riyadh, Jeddah, Lebanon, United Arab Emirates, Qatar, Jordan and Egypt.

 Presently, the company has completed 36 buildings with 7374 units and spanning over 13.1 million square feet. Eight of which were completed in 2011 comprising 1,329 units and spanning 2.5 million square feet.  (FREEMAN)