THE Department of Trade and Industry (DTI) in Davao City expressed confidence that the city's flourishing real estate industry will continue to prosper in the coming years.
Teolulo Pasawa, DTI-Davao chief said at the rate that the city's real estate industry is taking-off; it appeared that there are still lots of opportunities and bigger project that are yet to arrive in Davao City.
“I am expecting more real estate development projects especially high-rise projects. As you can see, there are only few high-rise developments that have been put up in Davao City so far,” Pasawa said.
Records from the City Building Office (CBO) showed that for the entire 2011, a total of 4,139 building permits have been issued.
As of May this year, CBO recorded a total of 2,716 building permit issuances.
Pasawa said the number of building permit issuances for the past year and months suggests that investors in the real estate industry are bullish on the vibrant potentials of Davao when it comes to real estate developments.
"As you can see here in Davao City, construction works are being done everywhere and you can expect this view for the coming years," Pasawa said.
Pasawa said coming of new investors in Davao City only shows that there are still lots of opportunities and untapped markets in the real estate development.
He said with the tight competition among developers, Dabawenyos can expect better innovations in the industry.
Meanwhile, Sebastian Anglionto, of the Davao City Chamber of Commerce and Industry Incorporated (DCCCII) said real estate developers and investors must invest in all aspects and facets of the industry.
For Angliongto, investors must not only focus on high-end projects that target class A or B clients but also low-cost housing projects as this is important in a holistic development of a city.
Angliongto said masses are important especially to businessmen since they provide manpower to all companies. A decent housing project, they provide manpower to all companies.
Decent housing projects that fit the budget of ordinary Dabawenyo must also be one of the considerations.