By Antonio L. Colina IV
Davao City – More than P493 million in investments poured into Davao City after martial law was declared in Mindanao last May 23, 2017, according to the Davao City Investment Promotions Center (DCIPC).
DCIPC reported that these investments were in real estate and in the agri-industrial sector.
The total of investments in the last nine months more than doubled the total capitalization of P230.83 million that was recorded for the entire 2016.
The new investments came from Urbaneast Developments, Inc., developer of Altezza Grande, worth P166.887 million; Davao South Feedmill Corp. for the development of Animal Fedmill Plant worth P181.250 million; and, Davao Thermo Biotech Corporation, a developer of a P145-million Biodegradable Waste to Fertilizer project.
DCIPIC head Lemuel Ortonio maintained that the business climate in the city has remained bullish even with the approval of the extension of martial law and suspension of writ of habeas corpus until December 31, 2018 by Congress.
He said his office continues to get inquiries from potential investors, which show that the “confidence in the peace and order situation of Davao City, and its viability as an investment location has gained ground again.”
“Also, we tell them that the crime rate in Davao City remains to be among the lowest in the country and has even decreased further since the declaration of martial law,” he said.
Ortonio noted that there could have been more investments in the city had martial law not been declared by President Rodrigo Roa Duterte.
“But city government will always support and uphold directives set by the national government to ensure the safety and security of the general public,” he underscored.
Ortonio added there were already a number of big-ticket projects in the city from the private and public sectors.
Private investments include the Azuela Cove, a 25-hectare waterside mixed-use development; MesaTierra Garden Residences, a condominium project of Cebu Landmasters, Inc. in partnership with Davao-based Plaza De Luisa Development Corp.; Peak Parksuites, a high-rise twin-tower condominium project of Anchor Land Holdings, Inc. (ALHI), in partnership Plaza De Luisa Development Corp.; Obsidian Suites and Ivory Residences, a project of Santos Land Development Corp; and, Dusit Thani Residences.