Davao Region posted P17.2-B investment in 2018

DAVAO CITY — Davao Region has captured a total of PHP17.2 billion investments in 2018, with the Davao City Water Bulk Project of the Apo Agua Infrastructura Inc. as the single biggest project recorded by the Board of Investments (BOI) last year.

Ma. Lourdes Lim, director of the National Economic Development Authority in Region 11 (NEDA-11), said the figure was higher by 111 percent compared to 2017.

Lim said other notable investments included the PHP2 billion flour production facility by the Universal Robina Corporation, and the PHP314.3 million condominium project of Cebu Landmaster’s Corporation.

Both projects are located in this city.

Lim said Panabo City also took a large share of the total investments last year, with the PHP365.1 million expansion project of the Good Shepherd Hospital and the PHP325.9 million poultry production facility of Syntek Agri-Bio Corporation.

Other investments include Seaoil’s oil storage and transportation (PHP287.4 million); IT-BPM of Flatworld Solutions Inc (PHP121.2M); banana production of See International Food manufacturing Corporation (PHP14 million); and the low-cost housing project of Urbaneast Development Inc. (PHP179.7 million).

Under the private building construction, Lim said a 45 percent increase was recorded from January to September 2018, at PHP20.3 billion.

She said the residential construction segment was responsible for PHP9.89 billion or 49 percent of the total value of private construction, followed by the non-residential construction segment at PHP8.57 billion (42 percent).

According to Lim, the number of investments in residential projects indicated a significant growth for the residential properties development sector during the last 10 months of 2018. -PNA