BOI: P2.5B investments recorded in Davao City

TOTAL investments in Davao City for the 1st quarter of 2017 reached up to more than P2.5 billion with Camella Davao horizontal housing project of Communities Davao, Inc. in Buhangin having the biggest investment as per data provided by the Bureau of Investments (BOI).

Reaching a total cost of P1.047 million, the economic and low-cost horizontal housing project at Brgy. Communal, Buhangin District of Camella Davao has topped over the investment of other developments and businesses made for the first quarter 2017. This residential development of Camella Davao has around 1,051 units. The investment also employed more than 280 employees.

Also, for the first quarter, majority of the top investments made were in the real estate and agribusiness industries.

Real estate investments recorded in the first quarter are two projects under Prestige Homes and Realty Development Corporation for the expansion of Granville II and Granville III horizontal residential development (P600 million) and Filinvest Land, Inc.’s economic and low-cost housing development of 2 residential buildings, with 374 units (P400 million).

There were two agricultural investments recorded in first quarter of this year. Ahya Coco Organic Food Manufacturing Corp., invested P400,000 for the export and production of processed coconut products while Tierra Agri Technologies, Inc. invested invested P76 million for the production of controlled inorganic fertilizer.

In total, these investments provided employment for 1,870 employees with the expansion of the housing project in Granville III subdivision by Prestige Homes and Realty Dev’t Corp. having the most employed workers at 519.

Most of these companies are completely owned by Filipinos with some partially owned by foreign partners including Malaysian and Singaporean.