In terms of business, 2011 had been a good year of Davao City. It was a year when the first Ayala Mall in Davao City opened. It was also the year when big ticket projects which will soon change the cityscape of the city were launched – projects such as the 26 storey Abreeza Residences and the 30 plus storey Aeon Towers. It was also the year when we had our very first Davao Icon (Investment Conference) that led to investment commitments of around P11.87 billion.
(Davao City Investment and Promotion Center) DCIPC chief Jason Magnaye said the total investment grew in terms of amount of business capitalization at P187 billion in 2011. The establishment of new businesses in the city also showed an increase of 47.6 percent in 2011 with an accumulated amount of P3.68 billion from P2.5 billion in 2010.
Jason Magnaye shared that the increase mostly came from real estate projects or property development projects here in the city. The BPO (business process outsourcing) and tourism industries also helped in the increase of both capitalization and new business establishment.