Economist: Invest in residences in Cebu
NOW is the time to invest into residences in Cebu as the country’s economy is expected to attract more foreign i nvestors.
Professor Ricardo de Vera, international business analyst and economist, made this call to local investors as these foreign investors when they would come into the country would need a place to stay especially in Cebu, which had been a prime spot for them.
“Foreign investors will come in, they will need a place to stay. Cebu is a prime spot for investments. We have here the golden mean of industrialization. We will soon see a surge of investors in Cebu,” said De Vera during a Nov. 7 forum on the Global Development, Local View forum at the Grand Convention Center in Cebu City.
De Vera also said that President Rodrigo Duterte’s Build, Build, Build development plan had caused roller coaster changes in the Gross Domestic Product (GDP) in the past months.
“Although it seemed like our GDP constantly goes up and down, take these changes together and you will see that our economy is actually rising,” said De Vera.
He said that although the GDP would go down occasionally, the infrastructure that would be built as part of the Philippine Development Plan for 20172022 would eventually cause a rapid rise in the GDP following the influx of investors.
Benedict Benedicto, Benedict Ventures Inc. director, (above photo, left) together with other officials of the company, scan through a brochure of their new residential project, Be Residences, that will be built near the Cebu IT Park in Barangay Lahug, Cebu City. The Be Residences project, an artist’s perspective of the project is shown at right, is the family’s first foray into the residential development sector.