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PIA Press Release

Investments trooping to Davao City

by Prix D Banzon

Davao City (5 August) -- Investors in real property are trooping to Davao City because they find the city progressing and the right place to do business.

Davao City Investment and Promotion Center (DCIPC) head Engr. Roberto Teo at Kapehan sa Dabaw at SM's Pizza Hut said two Manila-based big malls are the most recent investors here.

Teo said the Robinson's that locate along Bajada already had started constructing their buildings that will house their supermarket and their hardware (Handyman) and an IT Center. The Ayala Land on the other hand is a residential commercial area to include among others area for BPO locators.

He said they know that there is money here that is why they are coming and that you got to have the name to invest in the city.

Meanwhile Teo said they are pushing for the ICT and retirement villages because these are the two sector that could stir more economic activities in the area.

ICT he said is Davao City's strength and right now 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 said this will not only for call centers but the BPO industry to include medical transcription, animation and other software production.

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

Meanwhile Teo also said that retirement villages is also the 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 a month and this would mean a lot of money in circulation," he said. (PIA) [top]

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