Investments Soar in the Philippine Island of Mindanao
The National Economic and Development Authority has released investment news showing the Philippines are receiving fresh interest from foreign investors, most remarkably within the last year.
Investments have jumped by 152% alone in the provinces of Northern Mindanao in the southern Philippines. Data compiled from the Northern Mindanao Regional Economic Situationer showed that the five provinces within Mindanao drew in P4.4 billion in January to March 2007, up on the P1.7 billion received between January and March 2006.
A large majority of the investment has been ploughed into resort facilities, real estate, and infrastructure. The province of Bukidnon contributed the largest share of P2.7 billion or 62% of the region’s total investments during the period, most of them in the areas of infrastructure and services, which also included developments.
Misamis Oriental province accounted for P858 million or 20% of total investments. Investments in the economic zones in Misamis Oriental comprised 27% of the total provincial investments that included an expansion project for the company of Pilipinas Kao and more construction at the Phividec Industrial Estate.
Investments in Lanao del Norte includes renovation of existing buildings, construction and expansion of commercial enterprises, resort facilities, construction and supply distribution centres.
Many companies are relocating to the Philippines by increasing business process outsourcing, which is creating a demand in local property, rental prices, increased wages, and in turn public spending. The Filipino political stability is also having a marked effect on the economy, which in turn is further encouraging foreign direct investment in off plan city complex and island resorts development.
For more information on overseas property investment and to find out about
Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/
If you wish to see the original article please click here
Investments have jumped by 152% alone in the provinces of Northern Mindanao in the southern Philippines. Data compiled from the Northern Mindanao Regional Economic Situationer showed that the five provinces within Mindanao drew in P4.4 billion in January to March 2007, up on the P1.7 billion received between January and March 2006.
A large majority of the investment has been ploughed into resort facilities, real estate, and infrastructure. The province of Bukidnon contributed the largest share of P2.7 billion or 62% of the region’s total investments during the period, most of them in the areas of infrastructure and services, which also included developments.
Misamis Oriental province accounted for P858 million or 20% of total investments. Investments in the economic zones in Misamis Oriental comprised 27% of the total provincial investments that included an expansion project for the company of Pilipinas Kao and more construction at the Phividec Industrial Estate.
Investments in Lanao del Norte includes renovation of existing buildings, construction and expansion of commercial enterprises, resort facilities, construction and supply distribution centres.
Many companies are relocating to the Philippines by increasing business process outsourcing, which is creating a demand in local property, rental prices, increased wages, and in turn public spending. The Filipino political stability is also having a marked effect on the economy, which in turn is further encouraging foreign direct investment in off plan city complex and island resorts development.
For more information on overseas property investment and to find out about
Obelisk International’s latest projects, contact: Obelisk International on 0808 1600670 or email info@obeliskinternational.com or visit our website http://www.obeliskinternational.com/
If you wish to see the original article please click here
posted by Chris at 10:27 am
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