CBO nets P72M in building fees-A A +A
Thursday, March 14, 2013
WITH the influx of new big real estate players in Davao City, the City Building Office (CBO) said its collection revenues skyrocketed at P72.6 million in 2012.
In an interview, Engr. Jaime Adalin, chief of the CBO, said they closed 2012 surpassing by P21.4 million its last year's target of P51.2 million.
With this high collection revenue, the CBO had a collection efficiency of 141.92 percent, which is bigger as compared to 2011's 119 percent.
He attributed the increase to the several applications of building permits last year.
Among the big real estate firms that entered the city last year are Felcris Hotels and Resorts, the highest with a total of P838.967 million worth of investments, for the 15-storey Business Process (BPO) Tower and a mall, followed by Accendo Commercial Corporation, a fully-owned subsidiary of the country's major land developer Ayala Land Incorporated's (ALI) with investments pegged at P489.496 million.
The third highest investor was an investor of 11-storey hotel along J.P Laurel at P285.114 million.
Other investors that infuse big investments in the city are Red Planet Hotels Davao Corporation with P145.483 million, DMC Urban Property Developers Inc. (DMC-UPDI) with P145.310 million, and Filinvest Land, Inc. (FLI) with P143.069 million.
The building official is also positive to hit or even surpass their 2013 target of P70 million, which was set by the Local Finance Committee (LFC) in a deliberation held in Novermber 2012.
Adalin said their strict enforcement of building fees and its intensified campaign to run after illegal constructions of industrial and commercial buildings also contributed to the high revenue collection last year.
He is hoping to do the same this year, but said they will focus on illegal residential constructions this year.
Published in the Sun.Star Davao newspaper on March 14, 2013.