DTI-Davao, biz group eye property development, ICT as top investments

DAVAO CITY (MindaNews/13 November) — Property development and information and communication technology are top investment opportunities in this city, the Department of Trade and Industry-Davao City Field Office (DTI-DCFO) and the Davao City Chamber of Commerce and Industry Inc. (DCCCII) said Monday.


DTI-DCFO and DCCCII said leaders from these sectors will present business opportunities at the second Davao Investment Conference on November 16-17 at the SMX Convention Center here.


Teolulo Pasawa, DTI-DCFO chief, said Monday his office is working with the city investment promotion center in terms of promoting business in the city, during a regular media forum at SM City Davao.


He cited that property development is one of the fastest growing industries here, noting that there are apparently several building constructions in the city centers.


In a report as of September provided by engineer Jaime Adalin, acting city building official, there were at least 15 ongoing high-rise building projects, one of which was a 15-storey building with a cost of P839 million.


Owned by Felcris Hotels and Resorts Corporation, this building in Quimpo Boulevard, which will allot 12 floors for business process outsourcing (BPO) offices and three floors as mall areas, will be completed by September 2013.


The tallest building is a P489-million condominium project with 26 floors owned by Accendo Commercial Corporation near Abreeza Mall, which will be done by July 2015.


Pasawa mentioned a P3-billion steel plant project in Bunawan Proper awaiting the approval of the city council as proposed by the New Carcar Manufacturing Inc., a subsidiary of Steel Asia, one of the biggest rolling bar producers in the country.


Sebastian Angliongto, DCCCII chairman, also said at the forum that housing, both high-end and socialized, is among the real estate projects here that help promote the city as a main hub in terms of high quality of construction services.


He said that next to property development, another investment opportunity here is the ICT sector through BPO, noting that the city has to take advantage of its good colleges and universities for job generation.


The second Davao Investment Conference will promote the city, if not the whole of Mindanao, as an investment destination, the DCCCII said in a statement.


The chamber said the event will become a platform for more private-public partnership projects.


The conference will highlight investment opportunities in the areas of agri-business, ICT, real estate and property development, tourism and connectivity, power and mining.


The Autonomous Region in Muslim Mindanao will also present its economic profile at the conference, the DCCCII said. (Lorie Ann Cascaro/MindaNews)