Malaysian investors to develop Isla Verde in Davao City

DAVAO CITY (MindaNews / 25 Jan) – A group of investors from Malaysia has expressed interest to undertake an ambitious project that will transform Isla Verde, a heavily populated slum area in downtown Davao City, into a mixed-use property development.

Marilou Ampuan, local partner of the Mercury Group Private Limited and member of the Mindanao Islamic Chamber of Commerce, told reporters on Tuesday that they were requested to comply with the technical requirements by the Public-Private Partnership (PPP) Board during a meeting held last December.

She said that they will not be able to comply with the requirements in the second PPP board meeting set for next month as they need more time to meet the new PPP guidelines after Mayor Sara Duterte took oath last year.

Local consultants have been tapped to expedite the work on complying with the requirements, Ampuan said.

Despite the delay, she said the city government welcomes the proposal of the Malaysian investors called as the “Isla Verde Project” because it will assist the Muslims in the area to become more empowered.

Ampuan said that they envision the area to be a mixed-use property development project that would come complete with tourism establishments, commercial spaces, and residential areas.

“They chose the city because they want to help the Muslim constituents…. This is the Malaysian government’s way of extending support to us,” she said.

Ampuan said that the City Planning and Development Office (CPDO) has requested them to identify how many areas will be covered in the development but added it will cover the community razed by fire in 2014. (Antonio L. Colina IV / MindaNews)