Investors upbeat on Davao, Mindanao potential despite Martial Law

Subscribe Now July 10, 2017 at 05:21pm

Both international and local investors remain bullish on the high potential of Davao and Mindanao.

Lars Wittig, country manager of Regus Philippines, the world’s largest provider of flexible workspace solutions, said
they still see a very high demand in terms of working spaces to both local and foreign companies.

Wittig told reporters at a news briefing on Friday, July 7, at the Topaz Tower, Lanang here, that in June alone, the Regus Davao branch located in Damosa I.T. park here had seven new clients and 48 new workstations signed up for. The office currently holds an 82 percent occupancy rate.

Wittig added that out of the four clients opt for renewal, three of it renewed contract.

“Our global goal is to be on 70 percent and this is 75 percent (renewal rate). It’s very high renewal rate, plus we keep having very high demand and very high number of new customers signing up and that was June alone,” Wittig said.

Damosa Land Vice President, Ricardo Floirendo Lagdameo, attributed the type of economy that the city currently has to the demographic indicators, strong growth rates, and the peace and order which Lagdameo described as being “at its best”.

“Davao was and still continues to be ready for major investments,” Lagdameo said.

“When they set their (investors) mind to come to Davao to date, we don’t see anything that is able to change their minds. There’s so much diligence going behind it that a few headlines, newspaper or any other fuss is not going to change anything on that regard,” Wittig said.

Wittig also expressed that the company will be expanding to other parts of Mindanao and plans to have another branch here in Davao City.

Meanwhile, Davao City Councilor Danny Dayanghirang also said during the press conference that Duterte’s implementation of Martial Law is far different from the Marcos regime.

“About this impression of Martial law, all those things are imaginary. Those were the past of Marcos,” Dayanghirang said.


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