DAVAO Region’s impressive 6.7 percent economic growth is not just due to its eco-tourism, cultural landscape, agriculture, and robust infrastructure projects but also to its booming real estate industry, particularly in Davao City.
As of 2023, the region’s economy is valued at over a trillion pesos, rivaling major economies in the Philippines, such as the National Capital Region (NCR), Calabarzon, Central Luzon, Central Visayas, and Western Visayas.
The services sector leads this growth, accounting for 60.9 percent, or P620.08 billion, of the region's economic activity.
Real estate, particularly residential properties, contributes significantly to this growth due to Davao's geographic viability.
Damosa Land, a homegrown leader in Mindanao's real estate development, recently launched an exclusive media tour showcasing Bridgeport Park, a world-class residential condominium in Barangay Caliclic, Samal. This mixed-use development features a marina waterfront section and upper residential areas with stunning views, inspired by the East Coast Hampton architectural styles in the US.
Damosa's president, Ricardo “Cary” Floirendo Lagdameo, aims to be a trendsetter through this luxurious residential investment.
Aeon TowersInnovation
Meanwhile, AEON Towers, one of Davao’s premier residential condominiums, strikes a balance between boldness and tradition. This 33-story high-rise in Davao's industrial park is expected to thrive despite competition.
“The future of real estate in Davao City looks promising, with trends pointing toward continued growth and innovation. As the city evolves into a major economic hub in the Philippines, there is a growing demand for residential, commercial, and mixed-use developments that cater to a broad spectrum of needs. This includes a shift towards more sustainable and resilient building practices, as environmental awareness and the impacts of climate change become increasingly central to development agendas,” the company said.
Digital connectivity and technology-based systems are expected to create innovative changes in Davao's real estate, potentially positioning the area as an international logistics hub in the coming years. Technology-driven solutions, such as virtual property tours and blockchain-based transactions, will streamline the buying process and enhance living and working spaces.
Combined with Davao's strategic location, rich cultural heritage, and the local government's commitment to infrastructure development, these trends will make the city even more attractive to investors and residents.
AEON Towers highlighted the fierce competition among developers in Davao's real estate market, driven by urbanization and the demand for high-quality living spaces.
Developers are distinguishing themselves with creative designs, prime locations, and value-added services. The push towards eco-friendly communities and residences has also become a significant competitive advantage.
“To stand out, companies are investing in research and development to offer unique features such as smart home technologies, community amenities, and flexible spaces that cater to the evolving needs of modern families and businesses,” AEON Towers noted.
The competition benefits consumers by driving up the quality of real estate offerings, though it also challenges developers to continuously elevate their standards and adapt to changing market dynamics.
Thrive
The Davao City Chamber of Commerce and Industry (DCCCI) is poised to thrive under Belinda “Belle” Torres, the organization's 7th president.
She underscored the significant investment in real estate and township developments, revitalizing Mindanao's business landscape.
“I have seen the dedication of this organization, especially for thriving businessmen who contribute to the economic prosperity of the city, Mindanao, and the country,” Torres said.
She emphasized the importance of MSMEs, which contribute 40 percent of the country's GDP and 63 percent of its employment, calling them the backbone of the economy.
The presence of national developers has further solidified Davao's strategic location as an attractive investment destination in the Visayas-Mindanao (VisMin) area.
Colliers Philippines, a property research and consultancy firm, reported an average completion of 3,400 condominium units annually, with 1,529 units delivered in 2022.
Davao City's real estate sector, especially the residential market, is booming with exciting opportunities for business and investment.
As the city transforms into a vibrant economic hub, now is the perfect time to explore its thriving real estate landscape and be part of its dynamic growth story. DEF