Tourism offers real estate growth areas

Tuesday, April 28, 2009

TO be able to contribute on the region’s development, the Chamber of Real Estate and Builders Association Inc. (Creba) wants to attract more foreign direct investment and tourists to Cebu.

Citing the report of the Department of Tourism on visitor arrivals in the country, Creba Manila chairman Jimmy Cura said that of the more than three million visitors in the Philippines from January to December 2008, “75 percent (visited) Cebu.”

But then, he said, “we ought to be doing better” as a tourist hub given the tourist destinations, the rich cultural heritage and people who are conversant in English.

Cura spoke during a forum hosted by Creba-Cebu, which held the induction of its new officers, trustees and members last Friday.

As a tourist destination, Cebu can attract more foreign direct investments by exploring and improving the information and technology sector, said Cebu Investments and Promotions Center managing director Joel Mari Yu.

Advantage

More tourists are expected to arrive in Cebu with the opening of new resorts in Mactan.

Yu said the real estate industry can take advantage of the expected growth in tourism—as well as in retirement tourism—by promoting Cebu as the “best place to do business” and as a “second home.”

He stressed, though, that the right infrastructure has to be in place first.

Efrain Pelaez, Coral Point Development Corp. president, said Cebu is “missing a lot of tourism infrastructure.”

He cited the need for concrete roads to Cordova and around Mactan Island, in general.

Pelaez also lament the lack of drainage facilities and presence of slum dwellings on the island.

“How can we have an island paradise (if it is) a garbage pit?,” he asked. (Katrina G. Coloso, UP Mass Comm Intern)