MARKET DEVELOPMENT
Davao Region 9 Months BoI-Registered Investment P1.47 Billion
Davao Region 9 Months BoI-Registered Investment P1.47 Billion
10/12/2015 (BusinessWorld Online) - Investments in the Davao Region for the first nine months of the year hit P1.469 billion, based on registrations with the regional Board of Investments (BoI).
Ma. Belenda Q. Ambi, regional director of the Department of Trade and Industry (DTI), to which the BoI is an attached agency, said 69% of the investments are in Davao City.
Of the total investments generated, 50% are in real estate projects.
The other half is distributed as follows: wood products at 12%; palm oil products and gas products, 11% each; information technology (IT) and communications, 8%; transportation, logistics, and storage, 6%; and consumer durables-plastic and packaging, 2%.
At the top of the list in terms of amount are the P322.8-million investment by Johndorf Ventures Corp. and P276.62 million by Davao Joyful Homes Realty Corp.
Mountain Haven Development, Inc. is also putting in P142 million into a property venture.
Wood products investments include the P169.2 million by Starbridge Global Corp. (wood products) and P5 million by Consolidated Plywood Industries, Inc.
The other investments are: P167 million by Palm Asia Milling Corp. (palm oil products), P154 million by Filsure Enterprise Corp. (gas products), P83.72 million by Panabo Trucking Services, Inc. (transportation, logistics, and storage), P118.66 million by Cybercity Teleservices Philippines, Inc. (IT and communications) and P30.38 million by Sammito Packaging Corp. (consumer durables).
Meanwhile, two Manila-based universities have recently purchased lots in the city, but local officials said neither of the academic institutions have indicated when they plan to build a campus here.
City Administrator Jesus Melchor V. Quitain said the Lyceum of the Philippines University bought a 12.5-hectare plot near the airport while the Mapua Institute of Technology acquired a 2.3-hectare area in the Sasa area.
House of Investments, Inc., the investment and management arm of the Yuchengco Group of Companies which owns Mapua, said in a disclosure to the Philippine Stocks Exchange that the Davao City lot was bought for P425M.
“We don’t know when they will start construction but these investments are coming to Davao,” Mr. Quitain said.
Ma. Belenda Q. Ambi, regional director of the Department of Trade and Industry (DTI), to which the BoI is an attached agency, said 69% of the investments are in Davao City.
Of the total investments generated, 50% are in real estate projects.
The other half is distributed as follows: wood products at 12%; palm oil products and gas products, 11% each; information technology (IT) and communications, 8%; transportation, logistics, and storage, 6%; and consumer durables-plastic and packaging, 2%.
At the top of the list in terms of amount are the P322.8-million investment by Johndorf Ventures Corp. and P276.62 million by Davao Joyful Homes Realty Corp.
Mountain Haven Development, Inc. is also putting in P142 million into a property venture.
Wood products investments include the P169.2 million by Starbridge Global Corp. (wood products) and P5 million by Consolidated Plywood Industries, Inc.
The other investments are: P167 million by Palm Asia Milling Corp. (palm oil products), P154 million by Filsure Enterprise Corp. (gas products), P83.72 million by Panabo Trucking Services, Inc. (transportation, logistics, and storage), P118.66 million by Cybercity Teleservices Philippines, Inc. (IT and communications) and P30.38 million by Sammito Packaging Corp. (consumer durables).
Meanwhile, two Manila-based universities have recently purchased lots in the city, but local officials said neither of the academic institutions have indicated when they plan to build a campus here.
City Administrator Jesus Melchor V. Quitain said the Lyceum of the Philippines University bought a 12.5-hectare plot near the airport while the Mapua Institute of Technology acquired a 2.3-hectare area in the Sasa area.
House of Investments, Inc., the investment and management arm of the Yuchengco Group of Companies which owns Mapua, said in a disclosure to the Philippine Stocks Exchange that the Davao City lot was bought for P425M.
“We don’t know when they will start construction but these investments are coming to Davao,” Mr. Quitain said.