THE P15-billion Davao Park District (DPD), a modern township development project of property giant Megaworld, is seen to become a major economic generator in Davao City.
"It will provide a ripple effect [in the economy] causing other [business] players to take part, generating more investments," said Ivan C. Cortez, Davao City Investment Promotion Center (DCIPC) officer-in-charge.
He also said it will encourage new investors to do business in the city.
"The entry of Megaworld shows that the business climate in Davao City is excellent and many investors are now seeing Davao City as a hub for investments," Davao City Chamber of Commerce and Industry Inc. (DCCCII) president Antonio T. dela Cruz said.
For her part, DCCCII acting executive director Mary Antonette Doromal said the development will generate lots of jobs and opportunities for Dabawenyos and they will no longer have to go to Cebu or Manila to find jobs.
"The development will help fresh graduates get a job without going out of the city," she said.
Dela Cruz also said that local micro, small, and medium enterprises (MSMEs) should also take advantage of the entry of the DPD since it will provide them a new market.
"Here in the chamber, we are dedicated to helping MSMEs. So we have lined up trainings, seminars, and advocacy programs for business minded individuals and owners of MSMEs," Dela Cruz said.
He said the programs have been available for businessmen at Small Business Development Center.
Megaworld's township development is also expected to bring in big corporations; however, these new players are seen to help improve the competitiveness of the local business environment.
"In any business environment, when new players come in, old ones will have to level up for them to sustain themselves. It would be a friendly competition," Doromal said.
Aside from boosting the economic environment of the city, Cortez said commercial and residential establishments being present in one community, will give Dabawenyos "the convenience and comforts of urban living."
The mixed-used development will rise on an 11-hectare Lanang property owned by the Dakudaos. It will be the first of its kind in Mindanao. DPD is Megaworld's 10th township project in the Philippines.
It will be have residential and commercial condominiums, business process outsourcing centers, a lifestyle mall, commercial and retail strips, and a school.