Damosa Land eyes P1.2B from Samal condotel
Damosa Land’s TRYP by Wyndham Samal, the first project cleared under the SEC’s new RENT framework, is set to open in 2028 with expected sales of nearly P1.2 billion.
Photograph courtesy of Damosa Land Inc.
Damosa Land Inc. (DLI) expects nearly P1.2 billion in sales from its TRYP by Wyndham Samal project after securing Securities and Exchange Commission (SEC) approval for a rental pool program.
The company said Friday that the four-star condotel, scheduled to open in 2028, is the first development cleared under the new Securing and Expanding Capital in Real Estate Non-Traditional Securities (SEC RENT) framework, with the approval covering 100 certificates of participation.
Unit prices range from P10 million to P20 million, each tied to a certificate confirming inclusion in the rental pool program.
Trailblazer
“This milestone affirms Damosa Land’s role as a trailblazer in real estate innovation as it reflects our vision of introducing new possibilities for real estate in the Philippines,” said Ricardo F. Lagdameo, President and CEO of DLI.
“The SEC’s approval provides investors with greater confidence in TRYP by Wyndham Samal and strengthens its long-term viability as a sound, future-ready hospitality investment in Mindanao.”
SEC RENT
The SEC RENT framework ensures rental pool programs are regulated, offering safeguards for investors through transparency and accountability.
The proceeds from certificate sales will be used to fund pre-operating expenses of the project.
The six-storey TRYP by Wyndham Samal will feature 100 rooms, social spaces, meeting facilities, a 250-seat ballroom, fitness amenities, and an infinity-edge pool overlooking the Davao Gulf.
Backed by Wyndham Hotels & Resorts, it is positioned to bring an international hotel lifestyle to Samal Island’s growing tourism market.