DAVAO CITY—Subdivision and condominium constructions topped the list of projects in the Davao region, where investments jumped sixfold in the last two years, the Department of Trade and Industry (DTI) office here said.
Eight property development projects, including two hotels, were registered with the Board of Investments (BOI) in 2012, and four the following year, DTI Director Ma. Belenda Ambi told a biweekly business forum here.
There were no amounts indicated for each project though per BOI policy on disclosure to the media, but Ambi said the BOI list shows that all BOI-listed investments in 2012 reached P5 billion, and increased by 620 percent to P31 billion the following year.
Only two midrise hotels opted to register with the BOI, that entitled them to government fiscal incentives. Ambi said the other new hotels, as well as other big investments, chose to go directly to the regular regulatory and documentary requirements of the local governments, to the other agencies like the Department of Tourism. The other property development projects were under the category of low-cost mass housing, but many were about construction of middle-class condominiums than subdivisions. There were a total of 31 investments, with power generation, light manufacturing and one coal-mining operation contributing to big-ticket ventures in the region.
The Aboitiz-owned Hedcor companies developed two small hydroelectric generation projects in Barangay Tudaya, Santa Cruz town of Davao del Sur, totaling 13.6 megawatts (MW). The bigger new power generation within the period was the two coal-fired power plants totaling 300 MW in Malita town, in the newly created Davao Occidental province, formerly the southern part of Davao del Sur.
Light manufacturing was accounted for by leather-goods production here, a kitchen-system production in Digos City, Davao del Sur, and a production of coconut-water concentrate in Santa Cruz, also in Davao del Sur.
Most of other projects were in agriculture and agribusiness. Ambi said this was due to the agricultural nature of the region.
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