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Sunday, March 23, 2003
Davao's real estate prospects good: DTI
By Christie Enriquez-Uayan
DESPITE the recent bombing at the Davao International Airport (DIA), Davao City is upbeat on the prospects of the real estate business.
In Saturday's Property Forum, Teololu Pasawa, city director of the Department of Trade and Industry, said with the ongoing Property Fair at the Atrium of the Gaisano Mall of Davao, the city's real estate business is expected to perk up again.
He said the progress of the housing sector should be emphasized since the city is experiencing a housing backlog due to the fast increasing population and the massive influx of migrants to the city from nearby provinces.
Pasawa urged housing sector players to fast track the development of some idle lands for conversion into subdivisions, buildings, and other structures.
"By creating a movement in our property industry, we will pave the way for increased business activities," he said.
He said movement in the housing sector always provides a "multiplier effect." About 25 industries are involved in the construction of a unit, which is not merely limited to the building materials such as cement, nails, wood, metal, glass, ceramics, electricity, water, sand and gravel. Aside from these, the appliance and furniture sectors will also flourish.
Thus, Pasawa said, there is no better measurement for economic progress other than the strength of the business sector. "If we want to help move our economy forward, we must set our sights to the real estate sector. It is one of the measuring sticks of our economy," he said.
The city's trade and industry director also made a comparison between the general business sector and the real estate sector, saying, "if the property industry is down, generally, business is also down and vice versa and an increase in construction activities means more job opportunities".
This year's property forum carries the theme "Industriya at Pabahay, Kaunlaran sa Mindanao".
(March 23, 2003 issue)
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