Mindanao real estate booms amid infra growth: MinDA
DAVAO CITY – Mindanao’s real estate sector is experiencing significant growth, driven by infrastructure development and urban expansion, the Mindanao Development Authority (MinDA) reported Monday.
MinDA Secretary Leo Tereso Magno said demand for residential and commercial properties has reached unprecedented levels amid increasing business activities in the region, particularly in Davao City.
According to MinDA data, occupancy rates for condominiums in Davao City range from 95 to 100 percent, with luxury properties attracting buyers from outside Mindanao.
Colliers Philippines reported a 160-percent surge in condominium sales in the first half of 2022, fueled by Davao’s emergence as an outsourcing hub, ongoing projects like the Mindanao Railway, and the presence of national developers.
Magno underscored the need for sustainable development to balance rapid urbanization with responsible resource management.
“The influx of property investments reflects investor confidence, but we must address the increasing demand for water, energy, and other essential resources. Growth must be sustainable,” he said. (PNA)
(PHOTO CREDITS TO)
Mindanao Development Authority (MinDA) Secretary Leo Tereso Magno. (Photo courtesy of MinDA)
Source: https://www.pna.gov.ph/articles/1246640?fbclid=IwY2xjawJQUJNleHRuA2FlbQIxMQABHSKHjiweuWbOmoMoic6WqLqtcqjtgT779yk0Skx3q2WoLsASPCNZqspklA_aem_sKPYRLKCyKlzTR8AXJpdDw
