INVESTMENTS in Davao City grew to nearly 300 percent to P4.8 billion in 2016 from the P1.5 billion in 2015 according to the data provided by the Board of Investments (BOI)-Davao Extension Office (DEO).
Real estate developments were the major investments put up in the city for 2016 with Phinma Property Holdings Corporation’s Arezzo Place Davao having the highest investment at P1.395 billion, followed by Prestige Homes and Realty Development Corporation going more than P624 million with the development of economic and low-cost housing project of Granville Subdivision in Talomo District.
Other major investments made last year also include the exportation and production of packaging products in Calinan, Davao City by AVLB Asia Pacific Conglomerate Inc., which invested a total of P500 million last year. Kennemer Foods International Inc., exporter and producer of fermented cacao beans, invested around P51.604 million.
A P508-million investment was also made by PNX Chelsea Shipping Corporation for their Oil Tanker–MT Chelsea Dominance, domestic shipping operator.
Other investors include Damosa Land Inc. (P596.592 million), Grupo San Pedro Realty Corporation (P372.10 million), Urbaneast Developments Inc. (P157.887 million), and FTC Group of Companies Corporation (P540.97 million).
In 2015, the biggest investment recorded in Davao City was the GoHotels Davao, Inc. at more than P338.76 million.
It was then followed by Johndorf Ventures Corporation low-cost mass housing project Portville – Davao Subdivision at P322.84 million at Davao Joyful Homes Realty Corporation at P276.62 million.
Though same data shows that investments in Davao City from 2015 until present are mostly composed of real estate and infrastructure development and constructions, in 2015 there was also the arrival of business process outsourcing (BPO) companies such as Cybercity Teleservices (Phils.) Inc. at Sobrecarey St., with a total investment of P118.66 million in 2015.
Filsure Enterprise Corp., which is into the marketing of liquefied petroleum gas and particularly investment in storage, marketing, and distribution had a total investment of P154.10 million in 2015.
Other investors for 2015 include Mountain Haven Development, Inc. (P142 million), Filinvest Land, Inc. (P159.796 million), and 8990 Housing Development Corporation (P85.241 million).
The arrival of foreign investors in the city by 2016 had also become more evident as business partly owned by British, Chinese, American, and Canadian businessmen started to emerge in the city as well.