Investments pouring into Davao City

Aug. 11, 2008

Davao City-Investors in real property are trooping to Davao City because they find the city the right place to do business.

At the recently held Kapehan sa Dabaw, Davao City investment and promotion center (DCIPC) head Engr. Roberto Teo announced that two Manila-based malls are the most recent addition to investors.

Teo said the Robinson’s will have its mall along Bajada and has already started constructing the buildings that will house their supermarket, their hardware plus an IT Center. On the other hand, Ayala Land will be developing a residential-commercial area that will include an area for BPO locators.

He said they know that there is money here that is why they are coming.

Teo said the city is pushing for the ICT and retirement villages because these are the two sectors that could stir more economic activities in the area.

Teo said that ICT is Davao City’s strength and their office is advocating for other investors to put up an ICT park even as he said that they envisioned that by 2010 Davao City would be able to consolidate this sector in one location. He added that this will not only be for call centers but for the whole BPO industry to include medical transcription, animation and other software production.

The city is looking at areas in Mintal and Tugbok as potential sites for these kinds of businesses.

Teo also said that retirement villages is a project that they are pushing considering that many retirees favor locating in Davao City.

Talking to some Japanese, Chinese and American retirees that are already here in Davao, he said they find the city the place that they want to settle for retirement.

“The projected money spending of a retiree is at 1,000 dollars a month and this would mean a lot of money in circulation,” Teo concluded. (PIA)

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