ONCE the Bangsamoro Organic Law (BOL) is implemented, it can help spur investments and developments in Mindanao’s real estate industry, a business leader said.
“We have been having a lot of meetings with the diplomatic circle and some countries are just waiting for the BOL to be passed like Japan and Russia, and even Malaysia. Of course they want security and peace in that (Bangsamoro) area before they do the investments. But they have already pledged that they will be coming in,” Davao City Chamber of Commerce and Industry Inc. (DCCCII) trustee and former president Maria Lourdes G. Monteverde said.
Monteverde said since last year, companies have been acquiring properties in the Bangsamoro areas for development.
“But then, they put it up on hold until the BOL will be passed because they do not want to keep the investors hanging especially if you do land banking because that will be costly. They are waiting for this (BOL) to be passed so that they can see the ripple effect of the law. And if it will really stabilize the region then they will pursue the investments,” Monteverde said, adding the investments are geared on agricultural property developments and road infrastructure.
“But for the commercial, multinationals who are based in the Philippines, they would want to go these areas and develop especially the commercial hubs and that of the residential. So it’s more townships developments that they will be making,” Monteverde added.