Cagayan De Oro City, CDO for short also known as the City of Golden Friendship in Mindanao is proving itself to be one of the best investment locations in the country. Read to know more about 4 of the reasons why Investing in Cagayan De Oro could be one of the new strategic choices you could make. Cagayan De Oro is consistently recognized in the top 10 most competitive cities in the Philippines by the National Competitiveness Council.
Strategies and location are big factors in putting up businesses or investments. One of the most low key but developing places in the country is Cagayan de Oro. Cagayan De Oro or CDO’s multilingual and multicultural community makes it ideal for establishing multinational businesses that will add to the city’s already productive terrain. People started to see that there is a big shift economically when they started to put up investments in Cagayan De Oro. It is considered as a new trend when it comes to being strategic in doing business. This world-class city has a well-developed infrastructure backbone, excellent connectivity to major production areas and markets thanks to the presence of an international port and multi-berth base port, an international-standard airport, and extensive inter-and intra-city road networks; rich agricultural resources; a large pool of human resources; and a diverse range of eco-tourism attractions, as well as a vibrant cultural and arts calendar. Cagayan de Oro’s municipal government was a pioneer in digitalizing business permits and licensing, as well as the assessment and payment of real property tax. Continuous changes in business permitting and licensing procedures ensure that conducting business in Cagayan De Oro City is as simple as possible.
REASONS WHY IT IS STRATEGIC TO INVEST IN Cagayan De Oro:
Northern Mindanao, according to real estate specialists, is on the verge of a real estate “boom.” Though yes, It is understandable to be wary about your investing selections, especially during these times while the economy is still recuperating from the COVID-19 outbreak. But here are some of the impressive reasons to invest and put up business in Cagayan de Oro, City as soon as possible this 2022.
1. POWERHOUSE ECONOMIC PERFORMANCE
Northern Mindanao’s (Region X) economic growth is being driven by Cagayan de Oro. In 2014, it increased its Gross Regional Domestic Product (GRDP) by 7.2 percent to PhP270.0 billion, compared to 5.3 percent in 2013. The acceleration of the industry and services sectors, which both increased by 8.0 percent and 9.0 percent, respectively, accounted for a substantial portion of the increase. Agriculture continued to grow at a steady 3.2 percent, contributing 23.4 percent to the region’s economy. Northern Mindanao (Region X) was rated fifth in the country in terms of gross domestic product per capita. CDO, labeled as the “City of Golden Opportunities,” and is renowned as Northern Mindanao’s growth capital. The commercial, trade, information technology, and tourist sectors of the city are all growing. As a result, it has also been the center of regional investment inflows.
Cagayan de Oro Chamber of Commerce and Industry Foundation, Inc. (Oro Chamber) together with Internal Chambers of Commerce-European Union in Mindanao are also working on collaborative projects. Additionally, the Italian Development Corporation facilitates through the Italian investments aimed at transforming Northern Mindanao. Given the booming businesses in Cagayan De Oro City, the idea of investing in an affordable house and lot or condominium unit with Bria Homes can be one of the most strategic decisions you can make especially if you would like to consider long-term gains. You have an option to avail with the help of Pag-IBIG loan or bank loan to achieve that dream house of yours especially if you are interested in concentrating and putting up investments in CDO.
2. STRATEGIC LOCATION
Cagayan de Oro is known as the Northern Mindanao’s gateway. Due to its strategic location, the city is easily accessible by air, land, and marine transportation. It serves as a point of entry and exit for goods and people traveling to and from CDO and neighboring provinces like as Misamis Oriental, Agusan, Bukidnon, Camiguin, and Davao. In addition, the city makes direct and cost-effective cargo shipping to Manila, Cebu, and international shipping hubs possible. According to the NEDA’s proposed plan for 2025, Metro Manila, Metro Cebu, Metro Cagayan de Oro, and Metro Davao would “function as the economic and administrative heart of the three main island groups of the country.”
3. GROWING INFRASTRUCTURE DEVELOPMENT
When Duterte implemented the Build, Build, Build program (BBB), Cagayan de Oro is one of the areas that benefitted from the ongoing infrastructure developments of the said project. They are namely the CDO Coastal Road, which will alleviate traffic congestion and provide greater accessibility to adjacent cities for inhabitants and visitors. While the CDO Civic/Convention Center, the CDO Civic/Convention Center will boost the area’s property value. And of course, the expansion of the Laguindingan Airport. More foreign flights will be handled each year thanks to the expansion of the Laguindingan Airport. More infrastructure improvements are expected as the Panguil Bay Bridge and Bukidnon Airport near completion, including a railway project, transit-oriented housing project, waste to energy project, cable car project, innovation hubs, and integrated steel mill.
As a result, more corporate investment opportunities will be available to cater to Northern Mindanao’s air freight and travel needs. All of this adds to the area’s reputation as a burgeoning investment and vacation destination. To sum it up, the growing development of infrastructures in CDO means that investors and tourists will start to flock in which will benefit the commercial real estates and service industries in the area. Just in case you are also thinking or interested of putting up investments in CDO or business in Cagayan de Oro City, there are affordable house and lot or Condominium Units in Bria Homes in Cagayan de Oro, Misamis Oriental.
4. ON-GOING REFINEMENT ON ADDRESSING PEACE AND PUBLIC SAFETY CONCERNS
The DILG Cagayan de Oro City Director Jane J. Docallos, the council has been working hand-in-hand with other government agencies to address pressing issues and concerns in the city. They seek to make sure that there is clearing of roads of obstructions such as structures, vehicles, garbage, and even posts that are in road shoulders. Also, according to Director Dacallos, they are currently planning to collaborate with the City Traffic Management Board (TMB) to address issues on road accidents and traffic management in the city. The City Council will also perform community profiling in targeted barangays to identify community issues, scale up government interventions related to the localization of Executive Order No. 70, and keep the CDO safe and secure.
IN A NUTSHELL…
CDO would gain immensely from future infrastructure projects as the present administration’s actions open up new growth options for Mindanao. The city’s promise as an investment center in Northern Mindanao will be enhanced by the construction of new buildings. CDO will eventually become a prominent Philippine hub to be reckoned with.
Ready to invest in CDO? Bria Homes can make your living experience more conducive and comfortable given the big leap that you are about to take. Click here and you may inquire on the different properties of Bria homes in Cagayan De Oro.
Written by Raine Sanchez