Primavera Residences Tower 2 now complete!

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Cagayan de Oro, Misamis (December 22, 2015)— Italpinas Development Corporation (IDC), the developer of Primavera Residences, had its ceremonial turnover of its second tower in Cagayan de Oro through a formal ceremony attended by unit owners and their families, partner brokers, banks, and contractors last December 16, 2015.

Gracing the event were Italpinas officials and VIPs namely IDC Chairman & COO Arch. Romolo Nati, IDC President Atty. Jojo Leviste who led the ribbon cutting with City Mayor Oscar Moreno and INVEST Officer Eileen San Juan followed by a blessing ceremony of the building with Msgr. Florencio Salvador of the St. Francis Xavier Chaplaincy.

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  In photo (left to right): Hon. Oscar S. Moreno (City Mayor), Arch Romolo V. Nati (IDC Chairman/COO) &  Atty. Jose D. Leviste III (IDC President) for the cutting of ribbon.

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  In photo: Blessing of Primavera Residences Tower 2

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 In photo (left to right): Atty. Jose D. Leviste III (IDC President), Jeanette B. Galleto (PRCC Property Manager), Arch Romolo V. Nati (IDC Chairman/COO) & Hon. Oscar S. Moreno (City Mayor); for the official turnover of keys by IDC to PRCC.

During the event, PRCC Administrator Jeanette Galleto formally turned over the key to one of Primavera Residences’ Tower 2 unit owners, Engr. Marie Cristy Lugtu with IDC key officers, Arch. Nati and Atty. Leviste.

From an interview with Sunstar Cagayan de Oro, Atty. Leviste when asked why they invested in CdO, he said, “We really believe that Cagayan de Oro has a growth rate that’s much more exciting than other cities. The Philippines itself is growing very fast but I think it’s time now to be more sophisticated about where we go within the Philippines because we can see that there is growth within the growth. There are stories that are definitely hyper-prospective for investors and CdeO, we believe, is one such story. We think that our experience so far has proven that.”

One of the key features of Primavera Residences is its eco-friendly design which results to a decrease in energy consumption of up to 20%. This is due to the high performance design of the building which includes cross ventilation, shading, and passive cooling features. The photovoltaic solar panels are already installed at the roofdeck to power the common areas of both buildings.

Primavera Residences is a twin tower, ten-storey mixed-used property located in uptown Cagayan de Oro City. It was recently awarded as the first and only condominium project to be certified by the IFC World Bank’s EDGE (Excellence in Design for Greater Efficiencies) in East Asia.

“In the future, there are plans for this particular precinct of the city to be developed, for other parts of CdeO to be developed. So the dynamic is changing, the center of gravity is changing in CdeO itself as a growing city, so all of these represent unprecedented opportunity,” furthered Atty. Leviste through an interview with Sunstar, “We do have plans to develop our second project, also here in uptown CdeO, so we look forward to presenting that once it’s ready.”

For inquiries, call 088-880-5002 or visit www.primaveraresidences.com.

Primavera Residences set for turnover of its Tower B

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Cagayan de Oro, Misamis Oriental (December 11, 2015)—Primavera Residences, the flagship development of Italpinas Development Corporation (IDC), is set to turn over its condo units to its rightful owners this coming 16 December 2015. As scheduled, Primavera Residences Tower B is to be turned over before 2015 ends.

“Italpinas aims to build in alternative locations with a real housing demand and where a sustainable green modern design brings innovation and offers an affordable luxury and lifestyle to the upper middle-class of the Philippines,” Arch. Romolo Nati, COO and Chairman of IDC said.  “The company’s flagship project, Primavera Residences, is the first of its kind in Cagayan de Oro City, is setting the bar for condominium projects in the area with its modern Italian design infused with eco-friendly architecture with its second tower ready for turnover,” Nati added.

The series of milestones and achievements IDC received made the company even more stable that it has ever been; from being the first-ever IFC EDGE-certified condominium project in East Asia and its final listing at the Philippine Stock Exhange, IDC’s twin-tower building, Primavera Residences, is now complete and ready for turnover.

Both a commercial and residential building, Primavera is sustainably built in Cagayan de Oro, in Pueblo de Oro Township, strategically located near SM Cagayan de Oro, a call center, and major establishments uptown. The building is built to maximize natural ventilation and light and equipped with photovoltaic solar panels on the rooftop of the building.

Furthermore, the presence of a green inner courtyard helps the building mitigate the high temperature during summer season. Also, the cantilevers creates shadow effect to protect the units from the sun’s direct radiation with a dramatic decrease in temperature. These are just a few of the special features that will help the building and its residents can save around 20% in energy consumption.

IDC believes that nature holds the answer to sustainable design. Taking a cue from Mother Nature herself, the company strives to develop self-sustaining, flood-free, and earthquake-resistant structures which are inspired by the beauty and functionality of nature. These green structures fuse human technology with the best that nature has to offer.

 

Italpinas shares surge on first day of trading

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By Doris Dumlao-Abadilla | Philippine Daily Inquirer

Shares of Italpinas Development Corp. (IDC) surged following the real estate company’s stock trading debut amid a scant public float on Monday, riding on buoyant regional markets and favorable growth prospects in the countryside.Overall market sentiment was upbeat but some investors pocketed gains in intra-day trade, thus curbing IDC’s rise after hitting the daily price ceiling.IDC opened 50 percent higher at P5.40 a share on its inaugural trading at the PSE’s small, medium and emerging board, from an initial public offering (IPO) price of P3.60 a share.

IDC later gave up some of its gains to close at P4.22 a share, rising by 17.2 percent and giving the company a market capitalization of P797.83 million.
The company raised P207.4 million after bringing about 26 percent of its outstanding stock to public hands.

“We’re looking into areas where the big guys are not yet looking,” Romolo Valentino Nati, an Italian architect who chairs IDC, said in a press briefing.
IDC pitches “elegant architectural solutions and trademark contemporary aesthetic” while committing to environmental sustainability. It also seeks to deliver “maximum returns by seeking most promising local growth rates, such as those in hyper-prospective secondary and tertiary Philippine cities.” With a pricing point of about P1.4 million to P4 million per residential unit, the company targets the broad middle market as end-users alongside real estate investors looking for rental income.

“We’re a big country so we think like a big country,” said IDC president Jose Leviste, noting that there were underserved areas in the country which were becoming lucrative for vertical developments.

Italpinas is led by a partnership between businessman Leviste and Nati.

“Coming from Italy, I’d say that we saw something that’s happening in the Philippines. If you think of Italy, it’s not only Rome and Milan, there are several cities and communities. If you think about Philippines, you think about Metro Manila and Metro Cebu but there are several cities that lack in inventory in terms of units. It’s a big market but you have to segregate (markets),” he said.

 (Article from: http://business.inquirer.net/203738/italpinas-shares-surge-on-first-day-of-trading)

Italpinas shares jump on PSE debut

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SHARES of Italpinas Development Corp. (IDC) surged on the real estate company’s stock trading debut amid a scant public float on Monday, riding on favorable growth prospects for the countryside.

Overall market sentiment was initially upbeat but some investors pocketed gains in intra-day trade, thereby curbing IDC’s rise after hitting the daily price ceiling.

IDC opened 50 percent higher at P5.40 per share on its inaugural trading at the PSE’s small, medium and emerging board from an initial public offering (IPO) price of P3.60 per share. IDC gave up some of its gains afterwards to close at P4.22 per share, rising by 17.2 percent and giving the company a market capitalization of P797.83 million.

The company raised P207.4 million shares after bringing about 26 percent of its outstanding stock to public hands.

“We’re looking into areas where the big guys are not yet looking,” Romolo Valentino Nati, an Italian architect who chairs IDC, told a press briefing. As such, the company is seen to have more flexibility to pursue projects at a much shorter time than the big developers.

IDC pitches “elegant architectural solutions and trademark contemporary aesthetic” while committing to environmental sustainability. It also seeks to deliver “maximum returns by seeking most promising local growth rates, such as those in hyper-prospective secondary and tertiary Philippine cities.” With a pricing point of about P1.4 to P4 million per residential unit, the company targets the broad middle market as end-users alongside real estate investors looking for rental income.

“We’re a big country so we think like a big country,” said IDC president Jose Leviste, noting that there were underserved areas in the country which were becoming lucrative for vertical developments.

Italpinas is led by a partnership between businessman Leviste and Nati.

“Coming from Italy, I’d say that we saw something that’s happening in the Philippines. If you think of Italy, it’s not only Rome and Milan, there are several cities and communities. I you think about Philippines, you think about Metro Manila and Metro Cebu but there are several cities that lack in inventory in terms of units. It’s a big market but you have to segregate (markets),” he said. “We like to go where there is enough demand but not enough supply.”

Because IDC focuses on vertical developments in areas where there is not enough supply of condominium units, it is estimated that net rental yields are attractive at around 7 percent or double the net yield in Metro Manila.

Over the long-term, IDC also plans to develop structures that would in line with tourism as well as to develop a bigger portfolio of rental assets from which it could unlock recurring earnings. IDC plans to venture into the serviced hotel-condotel business in the future.

Italpinas’ first real estate project was Primavera Residences in Cagayan de Oro City, a twin-tower mixed-use development. Its newest mixed-use project is Primavera City, which is also located in Cagayan de Oro. Based on its regulatory filings, it plans to enter the property markets in Lipa, Batangas as well as in Dumaguete in Negros Oriental, Iloilo City and Subic Bay Freeport.

The company is currently planning a pipeline of projects in diverse locations. it is in the process of acquiring a 1,796-square meter property located at San Rafael in Sto. Tomas, Batangas province. It also has a right of first refusal on an adjacent property with 5,347-square meters in land area.
Italpinas also holds a 25 percent stake in Constellation Energy Corp. which is into the development of renewable energy facilities.

Net proceeds from this offering will be used to boost capital expenditures for new projects, land banking and acquisition, retirement of existing obligations and for general working capital.

“I am optimistic that the capital raised from this IPO will help the company develop more functional properties with the goal of conserving the natural and manmade resources of our country,” PSE chair Jose T. Pardo said in his welcome remarks during the listing ceremony.

(Article from: http://business.inquirer.net/203714/italpinas-shares-jump-on-stock-debut)

Italpinas to weather sluggish mart on strong investor base

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By Krista A. M. Montealegre | Business World

Property developer Italpinas Development Corp., the fifth company to go public this year, is expected to trek higher when it debuts on the Small, Medium and Emerging Board of the Philippine Stock Exchange (PSE) today, as a strong local investor base supports the stock amid sluggish market conditions.
“I think Italpinas is too small to affect the stock market. There is interest in the shares given the lack of supply that may drive its share price higher on listing day,” Alexander Adrian O. Tiu, senior equity analyst at AB Capital Securities, Inc., said in a phone interview.

“It is a small issue so it may be pulled up by locals. I don’t think it will attract the interest of big funds,” Luis A. Limlingan, business development head at Regina Capital Development Corp., said in a separate interview.

Italpinas is raising P207.44 million from its initial public offering (IPO) — the smallest maiden share sale for the year.

At the close of the offer period last month, the allocation was 2.6 times oversubscribed for local small investors, 3.5 times oversubscribed for trading participants and three times oversubscribed for quality institutional buyers, Unicapital, Inc. Managing Director Leonardo R. Arguelles, Jr. said in a mobile phone message last week.

Unicapital is the issue manager and underwriter of the transaction.

Italpinas’ listing comes at a time when the stock market is expected to encounter volatility on mounting bets that the Federal Reserve is poised to start raising interest rates later this month.

“IPOs are sometimes in a bubble. They don’t follow what’s going on in major markets,” Mr. Tiu said.

Italpinas priced the IPO at P3.60 per share, 14.29% lower than the P4.20 maximum price the company initially announced, bringing down the gross proceeds from the original P242 million the company had intended to raise from the stock market.

“Assuming a net profit of P21 million for 2015, the stock is valued at 16 time price-to-earnings ratio for 2015, that’s relatively cheap for a real estate company,” Regina Capital’s Mr. Limlingan said.

PE ratio is a measure of how expensive a stock is.

Italpinas is selling 57.622 million common shares, comprising 26% of the company’s outstanding capital stock.

Italpinas is the company behind Primavera City, a mixed-use project consisting of seven residential and commercial buildings in Cagayan de Oro City. Primavera integrates into its design eco-friendly features such as rooftop solar panels to generate part of the buildings’ electricity supply and reducing power use by maximizing natural light and wind ventilation.

The company is acquiring a property in Sto. Tomas, Batangas where the it plans to undertake a mid- to high-rise residential project.

Italpinas — which is scouting for land in second- and third-tier cities where demand has been growing but has been underserved — today becomes the fourth company to join the stock market this year in the wake of Crown Asia Chemicals Corp. (P222.78 million), SBS Philippines Corp. (P1.16 billion) and Metro Retail Stores Group, Inc. (P3.97 billion). (Krista A. M, Montealegre, Business World)

(Article from: http://www.bworldonline.com/content.php?section=TopStory&title=italpinas-to-weather-sluggish-mart-on-strong-investor-base&id=119762)

Eco-friendly tips for an early Christmas shopping

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Oh hello there! Are you feeling the Christmas spirit? Do you already have presents for your loved ones? Better have your Christmas shopping now! Isn’t it hassle-free to buy your Christmas presents in this early moment? Instead of waiting for rush and last minute shopping, running all over the town and putting yourself in crowded places, secure a safe and eco-friendly early Christmas shopping. Yes, an eco-friendly Christmas shopping.

Do you know how to be an eco-friendly shopper? Well, let me give you some tips on how to make your Christmas shopping helpful to our mother earth:

Make a list– Before going to shopping places; make a list of the things you need to buy. This will help avoid wasting gas from commuting or even with your own car, not just that, it will also make you spend less because this will make you stick to your budget. Your loved ones will appreciate more if you give them a well thought present and at the same time bringing no harm to our environment.

Shop in one place– Stop exhausting yourself from walking and running all around shopping places. As much as possible, try to look for a mall or a group of stores where you can buy all you need for presents. It will help to reduce carbon emissions produced from your car, and will lessen time consumption.

Use Eco-bags– Refrain from using the usual plastic bags that will take approximately 500 years or more to decompose, and would contaminate soil, waterways, marine life, and animals upon digestion. Instead, use eco-bags or any reusable shopping bags that you could bring with you every time you shop. There are also lots of shopping malls and stores who sell eco-friendly bags, have it and enjoy your green Christmas shopping.

Shop Online– If you don’t want outdoor shopping, why not try to have your shopping online? There are lots of online shops that give you easy access and convenience.  Aside from the fact that it’s more comfortable and relaxing way to shop, this is also one great way of reducing carbon emissions produced when running around the city to buy your Christmas gifts. One more thing, shopping online would also help you save your time and avoids you from unwanted situations like waiting on long lines and being in a middle of the crowd.

Here you go!  You can enjoy your shopping in an eco-friendly way that’s not just beneficial to our environment but also for us.

Have a Green Merry Christmas!

Do you want to know more about Primavera Residences? You may click here for more information!

The Aperitivo, a true Italian food and wine event in CdO!

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Finally something that we don’t see every day in Cagayan de Oro. The Italian Chamber of Commerce and the Italian Embassy in partnership with Oro Chamber present an extraordinary insight into the habits of an Italian, a real piece of Italy’s everyday life: The Italian Aperitivo.

Let’s take away all doubts right from the beginning: the Aperitivo is what it says: an aperitif, which is an alcoholic drink to be had at pre-dinner time to stimulate one’s appetite. In Rome or in Milan people gather for an aperitivo just after leaving office and drink wines, camparis, bellinis and a lot of other fancy drinks, cocktails and mixers. All this is accompanied by a buffet style of “antipasti”, Italian appetisers and finger foods like cold cuts, prosciutto, cheeses, panini and even spaghetti and other specialities. Doubt arises if this is a pre-dinner snack or real dinner?? Well, most often you wouldn’t want to eat anything else after an Aperitivo but Italians are known for eating so many do have late dinners thereafter.

The Aperitivo CdO is a lifestyle event where people gather and indulge in good conversation apart from sipping delicious wines and served with sumptuous buffet. Definitely a venue where worries and stresses have no home and where togetherness and friendship prevails.

This unique event should signify another step to Cagayan de Oro’s friendship with Italy and Italian culture and business. We have already witnessed the rise and shine of Primavera Residences by Architect Romolo Nati, now a pride of for all the city and other Italian companies active in servicing the bottling lines of Coca Cola. With the Philippine economy growing so is also Mindanao and the opportunities are unfolding. A growing mutual cooperation between public and private entities and also thanks to the efforts of Oro Chamber we shall see more foreign investments meaning more jobs for the local community. “If we keep a positive mindset and help each other for the common good then all the community can grow accordingly. Mindanao has a great future.” says Lorens Ziller, vice-president of the Italian Chamber of Commerce and maker of this international tie-up together with Engr. Cerael “Dodong” Donggay, president of Oro Chamber. The two chambers have a tie-up signing scheduled for the upcoming Oro Best Expo 2015.

Sunshine Paquibot, part of the organizing team, reminds us that there are limited tickets available for this event and all those who still want to be part of it should hurry to grab this opportunity.

“Primavera Residences near to completion” announced at International Leadership Conference in CdO

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Last August 15, 2015, a crowd of 500 gathered for the International Leadership Conference organized by Capitol University for their Executive Management Class of the Graduate School SY 2015-2016.

With the honorary presence of Filipino, American, Turkish, German and Italian lecturers and personalities, among which the Governor Vicente “Bambi” Emano who, during his speech, underlined his commitment to contintue to help Misamis Oriental grow in terms of Tourism and in terms of overall support to businesses  with needed infrastructure.

Mr. Lorens Ziller, IDC Director for Corporate Affairs, spoke on behalf of Italpinas Development Corporation (IDC), the developer of Primavera Residences in Uptown CdO and announced that the second building of Primavera Residences is near to completion underlining the strong commitment of the company to deliver results for its many investors.

Ziller, also Vice President of the Italian Chamber of Commerce in the Philippines held a speech about the “Challenges and Opportunities in International Trade and Business” in which he underlined the new opportunities for business and partnerships that the Philippines has with ASEAN with a brief on what we should learn from the European Union Integration process on how it happened and who benefited the most in the aftermath.

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He also spoke about the new GSP+ “tariff-zero” admission of the Philippines with the EU for a large variety of goods manufactured and produced in the country and how this benefits and cascades into different industries from logistics and banking to real estate.

In the end he spoke about the importance of international networking and the participation in associations or entities like the ICCPI (the Italian Chamber of Commerce in the Philippines) which promotes partnerships and cooperation between Filipino and Italian companies for import/export opportunities and cross-country investment.

The Italian Chamber, after the very successful “Aperitivo Italiano” networking events, is seeking new tie-ups with local chambers and plans to hold a series of similar events also in Mindanao and Visayas. On behalf of IDC he said that the exciting designer building should possibly be handed over within the next 60 days.

This proves the value behind this young development corporation who, apart from keeping up to the promise of his investors is also apparently preparing for public listing within the next few months increasing the returns for its own investors even further.

Explaining the success of this Filipino-Italian company citing Napoleon Hill he finished with: “The only limits are those created by our mind” meaning that, where there is a will to succeed even in difficult circumstances there is a way if we don’t allow our imagination to see our success, which gained him a large applause by the present crowd.

The conference underlined the commitment from several private and institutional parties that a successful and growing Misamis Oriental with and International mindset will benefit all classes of society and bring new jobs and opportunities into an already thriving business environment. Where education, business and institutions are cooperating harmoniously there is definitely a strategic advantage for all concerned parties and ultimately for the people and our next generations. (Lorens Ziller, Corporate Affairs Director)

The Debate Between Condo or House and Lot

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This article originally appeared in BusinessWeek Mindanao March 2, 2015 issue in the business column Out of the Biz Box. 

When it comes to choosing where to live (buy or rent doesn’t matter) I keep on assisting an apparently eternal debate between Condo and/or House/Lot. In Metro Manila, this debate has already evolved to a clear understanding about the indisputable advantages condos have compared to house and lot.

My neighbours, when I used to live in Manila, were actually from Cagayan de Oro. They were living in a gorgeous 3 bedroom unit at a higher floor and were overall a very nice couple with 3 kids. During one of our food and wine tasting evenings we used to have from time to time they shared with me reasons why they decided to buy in a condo rather than a house/lot. They explained to me that as a family the main reason was safety followed by ease of maintenance of the unit, the modern amenities and a very convenient location near to work. I realised that, compared to other parts of the world, decisions about location and type of accommodation is based on considerations that go beyond practicalities.

Interested in knowing more about people’s motivations, I started asking other Filipinos about their experiences and thoughts and so I discovered that many of those who decide to go for condos do so because they fear burglars frequently present in sub-divisions, the inconvenience of needing a car at all times even for buying a litre of milk, the damages caused by typhoons, flooding or other adverse weather conditions.

Especially those who actually live abroad like foreigners married to Filipinas or OFWs often feel abused by the continuous repairs and maintenance fund requests by their caretakers or relatives. Understandably a house has much more maintenance needs than a condo. I could relate to that since I did own houses in the past and I understand that there are water pumps that break, air-conditioning that don’t work, leakages from the roof, pipes that burst, plants that need to be watered and many more things that need continuous care and maintenance.

There was one time when I had just rented my family house in Dubai to an Arab tenant, when he rang me up complaining about the air-conditioning not working. So I sent in some repair guys and they had to replace two pumps. A week later he called again for the water pump. A week later he called again for a leakage in the bathroom. This went on for 3 or 4 months after which he even refused to pay rent until it was all replaced and fixed. It all sounded crazy to me but as the owner I had the responsibility to repair and replace defective parts. I spent nearly as much money in repairs as this guy was paying in rent. This incident convinced me that, unless I was living in the house, I would never again want to own one to rent it out to someone else. But this is only my personal experience and could have been only bad luck.

In fact there is a bright side to a house/lot though. I do miss those times where I was inviting my friends over for an outdoor BBQ party in my garden or where I enjoyed sitting outside and work looking at the palm trees, my baby banana tree and all the rest of the planted greenery. It felt nice but now, years on, I just enjoy closing the door of my condo unit behind me and relax, being able to live worry free for all the time I want to stay away. If I come back after 6 months or 1 year at least I am sure that all my things are still there and that there is no repairs and maintenance works to do. That’s just peace of mind. Priceless. On top of that most condo developers offer a property management service which could take care about the rental of the unit in my absence shall I wish to make some money while I am abroad. This is probably most convenient for OFWs or pure investors. These units are then rented out fully furnished and are completely looked after by a professional team.

Understandably everyone has different needs and dreams in life so personally I don’t have a prejudice between house/lot, condo or even hotel apartment. I can only talk about my personal experiences. It is clear though that a condo lifestyle has certain advantages and it is spreading more and more into the Filipino countryside, out of the main hubs of Manila, Cebu and Davao. Fortunately there are now additional options developers in secondary offer to its clients including in cities like Cagayan de Oro.

Mindanao, the ASEAN Integration and the Role of Cagayan de Oro

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This article is originally written for the business column called “Out of the Biz Box” which is published weekly in BusinessWeek Mindanao.

The past year’s successes of the thriving city of Cagayan de Oro have been under the eyes of everyone as the city has been awarded and nominated for multiple achievements. This is actually the best answer to those who are repeatedly asking me “Why CdO?” or “Why Mindanao”?

Let’s look at it through the lens. The Department of Science and Technology has awarded the city for its leadership in “electronic readiness”, an award given for the city’s ease and efficiency in business registrations. Then the city has also won the grand prize in the “Liveable Cities Challenge”, a competition organized by the National Competitiveness Council and the US Agency for International Development (USAID), with the partnership of the WWF and Asia Society. At the same event, and that is the real trigger for thought, CdO has been named “Second Most Competitive City” after Makati City, a very important sign for the future. Cagyan de Oro has then also been nominated by the UN Habitat as one of the “world’s cities of tomorrow” during the World Urban Forum in Colombia, the only Philippine city and one of only two ASEAN cities (the other one is Malaysia’s Johor Bahru) in the list. Really not bad at all. I hear that investors from the Northern Philippines and from abroad are undoubtedly eying this region for its great potential.

What to say about real estate? During my private chit-chats with the executives of CBRE and what we can read in their latest report on the Philippine Real Estate industry, they underline that “properties are still going to be a great investment also in 2015” but with a little more care and a special eye on retail and commercial spaces especially in secondary cities where retail, office and actual housing demand remain strong compared to Metro Manila. I read that UBS has echoed the same in their yearend report. The highly growing presence of BPO’s both in Davao and CdO is gifting a whole new generation with jobs and disposable income. Reading this right, CdO as a secondary and multi-awarded city, is the perfect example for an intelligent forward-thinking investment.

What are the predictable economic consequences of the ASEAN integration for Mindanao? One, for sure, is a more direct approach and exchange of communication for trade and services between regional entities and organizations of the member states. These countries are Vietnam, Indonesia, Malaysia, Singapore, Laos, Cambodia, Brunei, Myanmar and Thailand. Companies from these countries will seek a more direct access to Mindanao using its main sea and air ports of Davao and Cagayan de Oro. No Harvard degree necessary to understand that food processing plants, warehouses and re-packing facilities will definitely increase their presence near those main transport hubs at the same time augmenting opportunities for local SME’s to grow business and create new jobs. Growing beyond national borders will be the challenge and opportunity for local businesses.

Another great news for exports came lately by the EU’s decision to grant the Philippines the GSP+ (Generalized Scheme of Preferences), a “zero tariff” privilege for the export of strategic Filipino products into the EU among which pineapple juice, garments, preserved fruits, tuna, fruit jams and jellies and footwear. The Philippines is the only ASEAN country with this scheme. It is up to the smart Filipino entrepreneurs to figure out how many more opportunities there are in the different industries and business sectors. It’s time to make new international ties with other ASEAN countries, the Middle East and the EU, put away those ideas that working abroad is the answer (in fact the neighbor’s garden is not greener at all this time!) and understand that this is the strategic moment in which to dare and bring out the best in us all.

 

For investment opportunities in Cagayan de Oro and Mindanao, go here.