AS of October, this year, the total amount of fresh investments poured into Davao City has reached P3.42 billion, According to records obtained from the Davao City Investment Promotion Center (DCIPC).
This, after the Davao City Investment Incentive Board (DCIIB) approved earlier this month five more projects with local tax incentives. The new projects are valued at P645.49 million.
The new projects, whose owners availed themselves of incentives provided under the Davao City Investment Incentive Code, are expected to generate a total of 1,268 direct and indirect jobs.
As DCIIB-approved projects, their investors are entitled to such fiscal incentives as exemption from building permit fees and charges; exemption from the Mayor’s permit fees, business sales taxes and other fees and charges imposed under existing city ordinances for a maximum of three years; and exemption from basic real property tax for a maximum of two years.
They are also qualified to enjoy non-fiscal incentives such as assistance in securing business licenses and permits, processing of local investment incentives, business matching services, help in finding suitable sites for their location, assistance in finding sources of raw materials, providing of manpower and other production needs and access to the city’s data-banking services.
The total amount of investments as of October this year is only 3.45% short of the total investments recorded in 2010.
Last year, Davao City attracted P3.54 billion total investments in 13 different projects that generated 4,494 direct and indirect jobs.
Of the 13 projects, nine are property development projects, three are tourism facilities and one is agri-business.
Topping the list of projects approved this month is the “hospital” of the Metro Davao Medical and Research Center worth P327 million. The project is a tertiary hospital with hotel amenities that will generate 414 direct and indirect jobs.
It is followed by the Pinnacle Hotel and Suites of the Central Parq Group of Companies worth P205 million which will generate 194 total jobs; the Main Street Claveria and Brooklyn and Walters Hotel of the Davao Rogienald Corporation worth P120 million which will employ 87 workers; and the six-storey condominium of Kim Guan Realty Development Corporation worth P85 million which will generate 442 jobs.
Other projects this year include the Orchid Hills, a high end subdivision project of the BDA Holiday Prime Properties, Inc. with P220.98 million total project cost; the Damosa IT Park– Building 3 project of Davao Land, Inc. with P52.23 million project cost; and the Recreation Park of the Gumamela Caverock Farm Resort with P29.63 million project cost.
Another project is the other tourism facility of Home Crest Residences of the Globalcrest Properties, Inc. which will construct a three-storey 28-room boutique hotel with P27.50 million project cost.
Since the enactment of the Investment Incentive Code in 1994, the city government has granted tax incentives to P35.21 billion total worth of projects which generated a total employment of 19,053 direct and 28,719 indirect jobs.
This, after the Davao City Investment Incentive Board (DCIIB) approved earlier this month five more projects with local tax incentives. The new projects are valued at P645.49 million.
The new projects, whose owners availed themselves of incentives provided under the Davao City Investment Incentive Code, are expected to generate a total of 1,268 direct and indirect jobs.
As DCIIB-approved projects, their investors are entitled to such fiscal incentives as exemption from building permit fees and charges; exemption from the Mayor’s permit fees, business sales taxes and other fees and charges imposed under existing city ordinances for a maximum of three years; and exemption from basic real property tax for a maximum of two years.
They are also qualified to enjoy non-fiscal incentives such as assistance in securing business licenses and permits, processing of local investment incentives, business matching services, help in finding suitable sites for their location, assistance in finding sources of raw materials, providing of manpower and other production needs and access to the city’s data-banking services.
The total amount of investments as of October this year is only 3.45% short of the total investments recorded in 2010.
Last year, Davao City attracted P3.54 billion total investments in 13 different projects that generated 4,494 direct and indirect jobs.
Of the 13 projects, nine are property development projects, three are tourism facilities and one is agri-business.
Topping the list of projects approved this month is the “hospital” of the Metro Davao Medical and Research Center worth P327 million. The project is a tertiary hospital with hotel amenities that will generate 414 direct and indirect jobs.
It is followed by the Pinnacle Hotel and Suites of the Central Parq Group of Companies worth P205 million which will generate 194 total jobs; the Main Street Claveria and Brooklyn and Walters Hotel of the Davao Rogienald Corporation worth P120 million which will employ 87 workers; and the six-storey condominium of Kim Guan Realty Development Corporation worth P85 million which will generate 442 jobs.
Other projects this year include the Orchid Hills, a high end subdivision project of the BDA Holiday Prime Properties, Inc. with P220.98 million total project cost; the Damosa IT Park– Building 3 project of Davao Land, Inc. with P52.23 million project cost; and the Recreation Park of the Gumamela Caverock Farm Resort with P29.63 million project cost.
Another project is the other tourism facility of Home Crest Residences of the Globalcrest Properties, Inc. which will construct a three-storey 28-room boutique hotel with P27.50 million project cost.
Since the enactment of the Investment Incentive Code in 1994, the city government has granted tax incentives to P35.21 billion total worth of projects which generated a total employment of 19,053 direct and 28,719 indirect jobs.
