Davao City is being eyed for expansion by hotel and operators as inquiries on the city’s business environment continue to pour in.
This was disclosed by Jane Salanga, assistant manager for Property Investments, Acquisition and Disposal of Prime Philippines, saying five hotel operators and developers from the Asean-member countries are exploring possibility of joint venture or partnership with local capitalists.
“There is a rise in the hotel industry and not just acquisition for land but from hotel operators wanting to locate here under a joint venture partnership,” she said.
But Salanga did not disclose the name of the investors, however five of them placed inquiries with their office about Davao. In fact, one investor will be coming next month to look at locations and feel the market.
Prime Philippines, which is a commercial real estate consultancy firm, makes feasibility studies for their clients, market situation briefings, conducts market study, provides other data including pricing and ideal location for investments.
Salanga noted that property inquiries are moving up again despite the declaration of martial law. She added that prices of real property has increased which is a good sign.
Based on our study, she said there will be more projects by the end of the year.
“We are positive with the real estate industry here and the spike in land value is a good sign too” she said.
Salanga said inquiries from Business Process Outsourcing investors are high not just for new locators but also for those already operating here looking for more spaces for future development. (Digna D. Banzon/PNA)
