DAVAO CITY – The total investment on two coastline projects here would reach a total P100 billion, said the city’s investment office.
Ivan Cortez, chief of the Davao City Investment and Promotions Center (DCIPC) said the 200-hectare reclamation project of Mega Harbour is at P33 billion while Malaysian Mercury Group already have funds for its P67 billion project in Isla Verde.
“Mega Harbour is a port development, commercial and tourism project and also with a prime residential area along the bay,” said Cortez.
Cortez said that Isla Verde, would be “a commerical area with four to five storey tenements.”
Isla Verde is a 76-hectare coastal community of the Sama Dilaut (Badjao) indigenous group in Barangay 23-C recently razed by fire.
Cortez said that the Isla Verde project costs more as “you would have to relocate settlers.”
“As they (investor) would build tenements spaces are saved as it is a sprawling type setting, the free spaces can be utilized for commercial areas,” he said.
Cortez said the tenement structure was designed “so that at least we can improve our frontage, at least people can see that there is a beach there as we (popularly) call it boulevard.”
“(If you travel) from Pearl Farm to Davao City, you can only see squatters. This particular project will cover (it) as its maximum (height) for buildings is 10 storeys based on soil studies,” he said.
Cortez said the mayor asked both investors “to at least come-up with a similar design.”
He also said City Planning and Development Office (CPDO) has already included residents in the area in the “beneficiaries in census tagging.”
He said the Mega Harbour project would start in January 2016 “should they be able to obtain all permits” while the Isla Verde project will start the feasibility study “as soon as possible according to the investor.”
He said 20 percent of the total reclaimed area of Mega Harbour “can be utilized for government operation” and they have yet to hear from another investor who wish to build a “government center” in the area.(davaotoday.com)