DAVAO CITY — The economy is booming and so is construction, very much like the time before the 1997 Asian financial crisis.
The construction and real estate sectors, according to a group of architects, have experienced a yearly growth for sometime now.
“This year was better than last year, and last year was better than the other year,” Architect Sonny Labao said during Monday’s Kapehan sa Dabaw at SM City Davao. Labao is the chairman of the Federation of the Philippine Institute of Architects.
One evidence of positive growth in construction and real estate in the city are the proposed mid to high rise structures. “At least 3 HOTELS are being planned to be put up somewhere in the north,” Labao added.
Labao said foreigners have commented that they don’t believe claims that there is an economic crisis here, since there is a proliferation of residential units being built at the cost of up to P15 million each.
Architect Romeo Birrey on the other hand pointed out that the city’s construction boom shouldn’t be associated with that of Makati and all its high-rise buildings.
:://Sunstar Davao Online