Busi­ness and Econ­omy

Sun Star Cebu Yearbook - - CONTENTS - BY LIB­ERTY A. PINILI PHO­TOG­RA­PHY BY KURT FICK

WHAT MAKES CEBU A RE­TIREES’ HAVEN? THE PROSPECTS LOOK BRIGHT FOR DE­VEL­OP­ERS EYE­ING THE GRAY MAR­KET. EX­PERTS, MEAN­WHILE, DIS­CUSS HOW TO BANK ON PROP­ERTY CHOICES TO GROWTH WEALTH.

Cebu’s econ­omy and that of Cen­tral Visayas, in gen­eral, went through an ex­treme test when two ma­jor calami­ties hit in late 2013.

The Gross Re­gional Do­mes­tic Prod­uct ( GRDP) in Cen­tral Visayas grew 7.6 per­cent in the first half of 2013, al­ready sur­pass­ing its growth tar­get for the en­tire year. Thus, the Na­tional Eco­nomic and Devel­op­ment Author­ity 7 re­mained con­fi­dent that the econ­omy in Cen­tral Visayas would sus­tain its growth mo­men­tum un­til the year- end, con­sid­er­ing that the 7.2 mag­ni­tude earth­quake and su­per ty­phoon Yolanda oc­curred in the last quar­ter of the year.

A big chunk of the growth was brought about by the In­for­ma­tion Tech­nol­ogy- Busi­ness Process Man­age­ment ( IT- BPM) and tourism in­dus­tries which, in turn, spurred ac­tiv­i­ties in con­struc­tion and prop­erty devel­op­ment.

Many of the con­struc­tion projects in 2013 were res­i­den­tial prop­er­ties, as de­vel­op­ers scram­bled to ad­dress the grow­ing de­mand for liv­ing space.

This sec­tion tack­les the ro­bust growth in the low- and mid- end res­i­den­tial prop­erty devel­op­ment, the emerg­ing trends in the re­tire­ment sec­tor and in­vest­ment op­por­tu­ni­ties in real es­tate.

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