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September 08, 2016

Davao's Booming Business Continues

Davao City, Davao
— The boom in the region that has been experienced for the past few years continues, and gains more momentum as Davao City takes centerstage, being the home of the country’s first Mindanaoan President.

Comparing the city 21 years ago against today, one could surely say that the city landscape has changed so fast from the real estate properties, tourism and lifestyle, among others.

Privatization pushed 
The Department of Transportation (DOTr, formerly known as DOTC) is pushing for the privatization and upgrading of the Davao International Airport (DIA) within the first 100 days of the Duterte administration.

“We are pursuing multiple tracks -- one is to deal with short term issues, in aviation, in the pipeline is the privatization of Davao airport,” DOTr undersecretary for Aviation lawyer Roberto Lim said.

DIA is presently in the pipeline for major upgrading under the Public-Private Partnership (PPP) Project. It is included in the P108.19 billion bundled maintenance project for five regional airports. The bundled maintenance project for the five regional airports includes the P40.57 billion development of DIA.

The Davao Airport Operations, Maintenance and Development Project, currently undergoing procurement procedures, aims to provide additional facilities and other improvements designed to enhance passenger safety, security, access, passenger and cargo movement efficiency, and operational efficiency under a defined concession period. Such improvements have been indicatively estimated to cost P40.57 billion.

Railway System 
The railway system, which will be a big ticket project of the Duterte administration will involve the city. The feasibility study of the long-proposed 2,000-kilometer Mindanao Railway System (MRS) is targeted to be completed in the third quarter of this year and is seen to be fully completed beyond 2022.

In a report, the big-ticket project will connect major cities of Davao, Cagayan de Oro, General Santos, Butuan, Surigao, Iligan and Zamboanga.

Magsaysay Theme Park 
Newly-appointed Davao City Investment Promotions Center (DCIPC) officer-in-charge Lemuel Ortonio told reporters in Tuesday’s Davao Business Forum at Dermpath, SM City Davao that the project is now a step closer to realization after it has been approved by the Private-Public Partnership (PPP) Board in Davao City in June of this year.

“Once realized, the park will be an income generating project for the city,” Ortonio said.

The City Government’s private partner for the project is Sky Ridge. The private company will develop and operate the theme park and will have a commercial aspect.

Three dev’t projects in Davao by Cebu Landmasters, Inc. 
Following the signing of the Joint Venture Agreement between Cebu Landmasters, Inc. and homegrown Yuson Commercial Investments, Inc. yesterday, a total of three development projects are up for construction, all are expected to change the city's landscape. Cebu Landmasters, Inc., a Cebu-based developer, is set to develop the E. Jacinto Mid-Market Condominium, Riverside Mixed-Use Project on McArthur Highway, and Times Beach project in Matina, Davao City.

*The E. Jacinto Mid-Market Condominium 
This project is a 15-storey structure with two buildings. Soberano said in an interview that the mid-rise condominium project is the priority project among its three developments in Davao City. In its briefer, the developer described the condominium project will offer an affordable pricing scheme for the mid-market. It has a premium condominium concept similar to Cebu Landmasters’ Mesaverte Residences in Cagayan de Oro, an ongoing project that is 85 percent sold and Midori Residences in Cebu City.

*Riverside Mixed-Use Project 
It will be a 22-storey building rising in a 1.9 hectare (ha) land area. It will feature BPO offices, residential condo, serviced residences (condotel) and retail commercial buildings.

*Times Beach project 
This four-hectare project in Matina will be the city’s next lifestyle mixed-use destination. It will have an event center with over 3,000 seats capacity. The masterplan of the Riverside and Times Beach properties will be designed by globally renowned design consultancy firm, the Callison RTKL.

Reclamation Project 
The Joint Venture Agreement (JVA) for the P39-billion Davao Coastline and Port Development Project covering coastal areas in Davao City is scheduled was signed last June. The project is proposed by the Mega Harbour Port Development Corp. Under the project plan, it will stretch from Bucana shores to R. Castillo, Davao City.

The project will have a port operation and industrial, commercial, and government centers. It will include the establishment of mixed-use development of port operation and industrial, commercial, tenement housings and government centers. The original construction target date was set on March this year, the project is targeted to be finished by 2019.

Check the source here.

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