Real estate booming in northern town

Liloan Mayor Vincent Franco “Duke” Frasco wants his town to become the retirement and residential haven in northern Cebu.

Frasco said the town’s vibrant real estate industry has helped boost the local economy. He said earnings from real property taxes only averaged P262,000 per year from 2005 to 2007 but when he assumed office, the average annual real property taxes increased to P2.9 million.

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“The surge of residential developments here is evident as population over the last two years has increased. Liloan, so far, has the highest population growth rate at a little over five percent in the entire province,” Frasco said.

He credited the booming real estate industry to the town’s strategic distance to the cities, improved infrastructure and peaceful atmosphere.

“The local income generated by the town is heavily invested on infrastructure such as building and widening roads. Infrastructure is important to lure more investors to pour in investments here,” he said.

Subdivision and Housing Development Authority (SHDA) governor for the Visayas Rey Ralota sees the town’s viability for more residential developments because of its high water deposit and accessibility to the metropolis through the North Coastal Road.

He said many SHDA 7 members see the town as a viable location because of its business-friendly climate. “Liloan is one of the towns in Cebu Province that is organized, as it has streamlined its processes like business permit application,” Ralota said.

He said their organization recognized Liloan as a model local government unit during SHDA 7’s housing fair in October last year.

Frasco also said that the town’s signature product, the sweet flower-shaped biscuit rosquillos, is now sold in the national and international market. He said Titay’s Rosquillos and Delicacies Inc. sends bulk orders to the United States and Australia.

The mayor said other industries that help improve the town are rattan craft, stone craft, shell craft, furniture and pottery. The town also hosts car freshener and sandal manufacturing companies.

Frasco said that what also makes Liloan the right place for investments is that the LGU has maintained a good relationship with the investors through open communication and the extensive effort to make the town a business-friendly community.

“I help in finding solutions whenever investors have problems, like for instance development permits,” he said.