Davao's real estate remains vibrant

THE real estate industry in Davao Region continues to grow as more property investments are expected to be poured in the region this year.

Speaking in Wednesdays at Habi at Kape business forum at the Abreeza Mall of Davao, international property specialist and Philippine Integrated Real Estate Service president Malou Monteverde told reporters that industry players have remained bullish on the region's economy in 2016 amid various growth-limiting factors.

“We got a number of new investments in real estate from national and international firms expanding from residential, townships, academes and hospitals and manufacturing to watch for, definitely we have a positive outlook for 2016 for the real-estate and property industry,” she said.

Monteverde added that these investments though cannot be disclosed at present are all sure projects which are already in different permitting, documentary requirements and physical planning stage.

For the housing and residential, some three townships projects with more than a 100 hectares property each will be coming in starting this year, all are Manila-based companies which are interested in expanding in Davao City both to be located in the Northern and Southern part of the city.

The two educational institutions and two hospitals, according to Monteverde are all Manila-based companies showing interest in expanding operations in the city.

While the manufacturing company which is based in the Middle East is eyeing for establishing operations within the city’s economic zones.

“The manufacturing firm based in the Middle East already went here last year for ocular inspection and physical planning,” Monteverde said.

Monteverde emphasized that presently the best development achieved by the sector is the distribution of investments in the whole region and in Mindanao.

“On the investors side, the developments and investment projects now is not only isolated in the city but is already coming out to the neighboring potential cities outside Davao, we are very glad for this development,” she said adding that one contributory factors is the good road infrastructure Davao Region has.

However, she was quick to add in enumerating the limiting factors for spurring further growth in the industry which are security, corporation code and the increase in zonal valuation.

“When we say Mindanao as the possible investment hub, investors primary concern is the state of security and order in the island, they would always asked if how safe and secure are their investment in Mindanao,” she said.

Also, she added that the corporation code with a 60-40 percent policy ownership in favor to Filipinos is a factor most especially for foreign investors and the proposed 100 percent increase in zonal valuation.

“In order to address these limiting factors we have to have that what they call “X factor” for Davao, we should go beyond tax incentives, we should go on locating more economic zones to lure more investors,” she said.

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