Wednesday, February 17, 2016

Davao real estate to expand with population growth


Thanks to its booming economy, locals from surrounding towns and provinces are relocating to Davao City to work and enjoy the city's many assets, among which are its low crime rate and clean, orderly streets.

Pegged at 1,449,296 as per a 2010 census by the Philippine Statistics Authority, Davao City's population continues to grow, and experts say that this should pave the way to a thriving real estate sector in the next three years.

“The real estate industry in Davao City has boomed in the last six years. And the trend is still upwards,” says Lea C. Walker, manager and owner of Allea Real Estate in Davao City.

Top-tier developers have, especially within the last decade, erected condominiums, subdivisions, malls, and office buildings all over the city; these include, to name only a few: Ayala Land, Filinvest Land, Megaworld, Robinsons Land, and Vista Land and Lifescapes, on top of local developers and their respective projects.

According to the Department of Trade and Industry (DTI) Region 11, during the first three quarters of 2015, "Up to 69% of the investments generated in the region are in Davao City and 50% of the total investments come from real estate activities."

Registered investments accounted for a total of P1.469 billion from January to September of 2015, according to the Board of Investments. The largest investments were by Johndorf Ventures Corporation, at P322.8 million, and by Davao Joyful Homes Realty Corporation, at P276.62 million.





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