Last year, Mindanao, and Davao City in particular, were seen as one of the most exciting real estate investment destinations in the Philippines. The momentum is set to continue in 2020 as a pair of new international flights will connect the booming region to other countries in Southeast Asia.
According to the Manila Bulletin, a non-stop flight between Davao City and Manado, Indonesia will begin operations in March. A second non-stop flight between Zamboanga City and Kota Kinabalu in Malaysia will commence at the same time. Experts believe this will make the region more enticing to overseas investors.
“Given the institutional mechanisms established and/or facilitated this year, the connectivity projects linking Davao and Manado, Zambo and KK, and trade relation agreements with other nations outside Southeast Asia, Mindanao would enjoy better comparative position as an investment destination,” Mindanao Development Authority Public Relations Head Adrian Tamayo told the newspaper.
He added that Davao is set to play an important role as a gateway for Mindanao and can be a showcase for the entire region. The new flight connections are predicted to increase in tourist arrivals which could in turn lead to an increase in real estate investments.
Developers ready in Davao City
A number of developers are already active in Davao City as they look to build a presence in Mindanao. For example, SM Development Corporation (SMDC) launched its first project in Davao City last year and the feedback has been great. The homebuilder was even named Best Developer Davao at the Dot Property Philippines Awards 2019 for Lane Residences.
The residential project has brought convenience and a modern lifestyle to Davao City and this has resonated with property seekers. Lane Residences features a wide range of resort-style amenities that appeal to families. SMDC worked hard to launch a project that appealed to both end users and real estate investors.
Another developer making a name for itself in Davao City is Grand Land. The company’s Amani Grand Citygate Davao took home Best Investment Development at the Dot Property Philippines Awards 2019. This was one of the first projects outside of Cebu that Grand Land has worked on and buyers have been snapping up units at the first few phases quickly.