P94.956 billion. This is what the Mindanao Development Authority (MINDA) reported as the total registered investments in Mindanao. In an article recently posted in cdodev.com and SunStar CDO, Usec. Janet M. Lopoz, MINDA Executive Director said that the investor confidence is fueled by Mindanao’s strong macroeconomic fundamentals and its relatively robust economy and stable political condition.
Lopoz says that there is an increased investor confidence in Mindanao for the past two or three years and this is by far the largest amount per BOI-record for the last 10 years.
Among the regions in Mindanao, Northern Mindanao posted the highest worth of investments, totaling more than half of the overall registered investments for Mindanao.
From 2012’s P3.65 billion, it has boosted up to P48.12 billion making it the most invested area in Mindanao. This is followed by Davao region with P31.66 billion from P5.79 billion, Caraga region with P8.64 billion from P11.78 billion, and Soccsksargen with P6.53 billion from P1.22 billion. No data was released for Zamboanga Peninsula.
Highest number of investments come from electricity, gas, steam, and air conditioning supply which recorded P86.73 billion. Manufacturing sector came second with P2.49 billion, then real estate with P2.24 billion, mining and quarrying with P1.77 billion, transportation and storage with P1.57 billion, accommodation and food service with P95.01 million, and agriculture, forestry and fishing with P59.18 million.
Lopoz also said that transportation and logistics companies are also looking into investing in Mindanao, seeing it as the next alternate transport and logistics hub of Asia.
Cagayan de Oro City, hailed as The Most Competitive City for 2013 by the National Competitiveness Council, is at the helm of this growth, driving in countless investors to produce developments for the next years to come.
Primavera Residences is one such investment. Awarded as the Best Mixed-used Development in the Philippines by the Asia Pacific Property Awards, Primavera is a wise choice for condo buyers and renters looking for a place to stay and invest in.
With a proven real estate appreciation of more than 10% per annum, buyers also have the option to rent out their units through the Primavera Residences Asset Management Program. For a minimal fee, condo owners would be able to lease their units for short-term and long-term rentals.
Located in uptown Cagayan de Oro at 110 meters above sea-level, the innovatively designed twin towers are built with the beauty of Italian architecture and the principles of sustainability in mind.
Know more about Primavera Residences here.
Sources:
P94B investments poured in Minda; Reuel John F. Lumawag (SunStar Cagayan de Oro)
Northern Mindanao posts P48 billion investments in 2013
