PROPERTY developer Robinson's Land Corp. has poured in the highest real estate investment at P576 million among other national and local property developers in Davao City from January to November 18, 2015.
Records from the City Building Office (CBO) revealed that this investment is allocated for the construction of the real estate firm's eight-storey Go Hotels Davao in Lanang, Davao City.
Other projects of Ronbinson's included the Cybergate Davao, Delta Residences, and Robinson's Place in Tagum City.
The Davao City Water District (DCWD) emerged as the second highest investor with P536 million for the construction of its seven-storey new office building, followed by Filinvest Land Inc.'s another five-storey condominium building worth P116.782 million at the One Oasis Davao along Ecowest Drive, Ecoland.
Glenn Escandor-led Esdevco Realty Corporation is also among the biggest investors, pouring in a total of P106.311 million for its eight-storey condominium project to be erected within its existing land development project, the Matina Enclaves in Matina.
While the state-owned institution University of Southeastern Philippines (USEP) received P71 million for the construction of its new five-storey school building at its Obrero campus.
The total investments approved by the City Government so far this year reached P1.646 billion worth of high-rise and medium-rise developments from both national and local property developers.
Davao City Chamber of Commerce and Industry Inc. (DCCCII) president Antonio Dela Cruz Jr. lauded the strong collaboration between the private and public sector for making the city visible in the investment radar among other vibrant areas across the country.
Davao City Investment Promotion Center (DCIPC) head Ivan Cortez said the continued influx of investments to the city was attributed to good governance and to its peace and order situation that created a "strong market base" that encourages local businessmen to do business and entice national players to come in.
The DCIPC, he said, will continue to create plans and strategies that make a conducive environment for businessmen who are eyeing the city for expansions and new operations.
"Our efforts of matching service providers with those who seek them will be pursued as always. Investment promotion is best done by making sure there is service provided once investments are on the ground with the end-view of having a survival rate for registered business," he said.
During the Asia CEO Forum at the Marco Polo Hotel Davao last week, Claro Cordero Jr,, head of the research, consulting, and valuation of the Jones Lang LaSalle Philippines Inc. (JLL), said that the city has 22 residential condominium developments in the pipeline with a combined 5,600 units.
He named companies such as Filinvest, AyalaLand, Robinsons, DMCI-UPDI, and Megaworld as among the big investors who poured in big amounts for their projects.
JLL is a financial and professional services firm specializing in commercial real estate services and investment management. (ALC)