Category Archives: Mindanao Times

Davao Region’s Economy eyed to hit 6-percent growth in 2011

THE ECONOMY of the Davao Region this year is expected to sustain or even surpass its six percent growth last year as key industries have remained vibrant, a government economist said.

Ma. Lourdes D. Lim, National Economic and Development Authority regional director, said there are indications that the region will sustain, if not outperform, itself this year because five main industries have performed better, among them mining where some investors have continued to spend money for  their exploration activities.


P3B Ayala Mall Davao to rise soon


AYALA Land Holdings Incorporation has announced that it will invest P3 billion for its Ayala Center of Davao, a joint project with the Anflo Management and Investment Corporation (Anflocor) which owns the property.Javier D. Hernandez, senior division manager of Ayala Malls Group, said the complex will be located at the Floirendo-owned nine-hectare property fronting the Redemptorist Church in J. P. Laurel Avenue.

He said the project will be different from any of the company’s 11 malls as each of them has a “character” as it will employ at least 5,000 workers. Hernandez said the timetable for the project is that by 2012 it will start operating as it will have four phases with the first phase to be completed in 2009 with two buildings for call center locators.

On hand to announce his support was Mayor Rodrigo R. Duterte who said the project will add to the economic activities of the city.Earlier, Ricardo R. Floirendo, Anflocor South Operations senior vice president, earlier said the two giant companies signed the memorandum of agreement on November 29 at the Ayala Serendra Commercial Complex in Makati City.

Under the agreement, the Ayala Malls Group will develop the property into a mini city, including the two hectare information and communications technology park which will house the call centers. The Makati-based conglomerate, considered the oldest company in the country, will also bring the locators to the project, Floirendo added.

One feature of the project is that it will be a “mall with a garden” as this will allow shoppers to roam around the mall where they can also dine and shop. “The place will allow them to go there and eat and at the same time shop (for high-end consumer products,” Floirendo said in an interview with the Times early this year.

The project was a fruit of a six-month study and eventual negotiations between the two companies, he added.