DAVAO City is rapidly establishing itself as a key player in real estate, fueled by strong demand for condominiums and a growing market for hospitality and tourism properties.
Jarvie Harlem Gantalao, president of the Chamber of Real Estate Builders Association (Creba) Davao Chapter, said the city is far from facing an oversupply of condominium units. He pointed out that developers continue to launch new projects, signaling sustained demand.
“There is no oversupply of condominiums in Davao City. Developers keep launching new projects because demand remains strong. Last year, Davao led national developers in sales, which proves a steady influx of investors in the condo market,” he said on January 20, 2025, during the association’s press conference.
The city's real estate boom extends beyond the city center, with developments reaching areas like Tugbok District, Toril, and Mintal. Gantalao attributes this expansion to Davao’s attractive quality of life, affordable cost of living, and safe environment, making it an appealing choice for investors and homebuyers.
Creba Davao now focuses on the growing opportunities in tourism and hospitality. The city's untapped potential in these sectors is seen as a major driver for future economic growth.
“We are focusing on the tourism and hospitality sector because many OFWs want to invest here, but they often ask about the region's entertainment options,” said Diosdado Mahipus Sr., Creba Davao chairman. “Unfortunately, the city’s entertainment options are still limited, and this is an area we need to improve to attract more investment in hospitality.”
Mahipus suggested expanding Davao's tourism infrastructure, including hotels, resorts, restaurants, and even gaming facilities, to appeal not only to tourists but also to retirees seeking a place to settle. He believes such developments would attract those with the financial means to invest in properties and enjoy Davao’s lifestyle.
Looking ahead, Gantalao sees Davao's future as a thriving real estate market supported by significant infrastructure improvements, sustainable development, and affordable housing options. He encourages industry stakeholders to seize these opportunities and contribute to the city’s economic growth.
With its growing prospects in both residential and commercial real estate, Davao’s future as an investment hub looks brighter than ever, offering considerable potential for those looking to tap into its thriving economy. DEF