Davao gets P1.5B worth of new investments

DAVAO CITY (MindaNews/12 May) – Housing and agriculture export investors have flocked to Davao City early this year with a total of P1.5 billion in new investments in the first quarter alone.

Meanwhile, the multibillion-peso Ayala-owned shopping center – Abreeza Mall – that opened Wednesday is expected to usher in more business opportunities in this city in the succeeding months.

Records from the Department of Trade and Industry (DTI) and the Davao City Investment Promotion Center showed that two projects on socialized housing with combined investments of P1.04 billion would be undertaken by the Housing Development Corp. with its Deca Homes projects.

Two others are into a high-end subdivision: P220.98 million by the BDA Holiday Prime Properties Inc. and P27.5 million by Globalcrest Properties Inc. Gumamela CaveRock Farm Resort, meanwhile, invested P29.83 million for an inland resort.

Other investments include Damosa Land Inc., which is putting a new building worth P52.2 million for a business process outsourcing operation inside its information technology (IT) park; Reliance Transcription Inc., an IT company going into export production with P1.2 million investment; Invent Foods put up P104 million for its coffee plantation; San Isidro Fruits & Processes would export banana chips with an investment of P4 million; Macondray Plastics also put up P35 million for its banana export; and the KF Nutri Food Corp. poured in P15 million for its coco coir production.

Two of these companies would operate outside Davao City – Invent Foods’ coffee plantation would be established in San Isidro, Davao Oriental; while KF Nutri’s coco coir production would be put up in Davao del Sur.

Three agriculture and food corporations also tied up with nine companies in the Davao Region during the March 30 Coco Coir Summit held at The Marco Polo here.

Dole’s Plant Best tied up with Mindanao Coco Fiber company of General Santos City; the Felisa La Pascua tied up with Mati Coco Fiber Technology; and the Nature’s Gai Agricultural Resources tied up with Davao Oriental Coco Husk, Kinetics BTL Global, Sheenrack Corp., Laico Co., Regwill Enterprises Inc., Coco Life/King Real and Talomo River MultiPurpose Cooperative. (MindaNews)