The newest investments in Davao City valued at P441 million that passed through the Davao City Investments and Promotion Center (DCIPC) gets exemption of paying mayor’s permit and fees.DCIPC officer-in-charge Jason Magnaye said this is on top of the approved investments during the first semester amounting to P612 million.
He said they need to work hard in order to meet their target of P1.9 billion this year.
The recent approved investment is still in line with real estate where one is a subdivision project worth P119 million and the other, a commercial building for mixed use with investments at P322 million.
Magnaye also said that the earlier investments consist of two projects on real estate, one in tourism while the other in agri-business.
In the pipeline are on real estate and commercial buildings, he said.
Meanwhile, he said majority of the investments in Davao City for the past several years are in line with real property development.
He said for the past three years, projects in the city were dominated by property development getting a share of 83 percent of the total investments.
He cited that since DCIPC started in 1995, property development got the biggest chunk as it cornered 61 percent of the total investments.
On the other hand, Magnaye is optimistic of hitting their target as they incorporate service marketing in finding new investors.
Davao City Mayor Sara Duterte-Carpio also goes out of her way in meeting with prospective investors and personally discussed with them what the city can offer.
He said the mayor also conducts personal visits to and assessments of existing projects of interested investors like in Manila in order to see for herself their projects.
Magnaye cited for instance that the Mayor led a small team to conduct ocular visit to the World Trade Center (WTC) in Manila as she is interested that a developer would invest in convention center here.
Although he stressed that they cannot dictate on the kind of investments he said perhaps they could influence.
A team from WTC composed of some senior officials will be coming to Davao City by end of September to check on the city’s investment area.
“The fact that a senior official is coming over would indicate that they are interested,” he said.
Magnaye said they double up in finishing their inventory and data as to real property investments as these comprise of the common data that investors ask. The other basic data as to infrastructure and other related information are also being readied by their office, he said.
He said a series of review and assessment are being made by them to ensure that investors get relevant and appropriate data as this will help them decide in locating here.