DAVAO CITY— President Rodrigo Duterte has assured the private sector the government has taken measures to ensure ease of doing business in the country.
“We intend to establish an environment that is more conducive for new investments to prosper and for existing businesses to expand and grow,” the President said in his speech during the unveiling of Azuela Cove in Davao City Friday.
Duterte said Azuela Cove is a manifestation of the government and the private sector’s commitment to vigorously pursue economic development in many parts of the country.
Azuela Cove is 25-hectare development in Lanang that will become the city’s prime waterside business and residential district. It is the brainchild of Aviana Development Corporation which is a joint venture company of Davao’s Alcantara Group of Companies and Ayala Land, Inc. It will also include the construction of St Luke’s Medical Center, the first locator at Azuela Cove. The site was an old plywood plant and sawmill owned by the Alcantaras.
The Alcantara Group of Companies is into a wide range of industries including power generation, agribusiness, forestry, transportation, real estate development, and construction-related industries.
Ayala Land Inc. first ventured to Davao City through Abreeza estate.
Ayala brought in Abreeza Mall then Seda Hotel with a total investment of P15 billion over the last eight years.
Fernando Zobel de Ayala, president and COO of Ayala Corporation, said Ayala would bring in P20 billion investments in Davao and Mindanao by 2026.
He said the Ayalas are also committed to help Mindanaoans and the administration’s campaign to rehabilitate and reconstruct Marawi.
Duterte commended Aviana Development Corporation, Ayala Land, Inc., and the Alcantara Group of Companies for the initiative.
“This joint venture shows what we can achieve when we foster strong ties with our partners in the private sector,” he said.
Duterte said Azuela Cove is expected to boost commercial activity in the city as it will bring more jobs for the people of Davao City and neighboring areas.
The President is optimistic the construction and operations alone would open more opportunities for Davaoenos with an estimated 6,500 workers to be employed.
He said the surrounding areas are also expected to benefit from the increase in land value and the opportunities that will follow.
“This property development will further define the city as a thriving hub in Mindanao,” he said.
Duterte said Azuela Cove will make the community more sustainable as it will have condominiums, events tent and other amenities.
He added he is also happy of the decision of St. Luke’s to establish inside the estate.
“This state-of-the-art facility will help us address the medical needs of our people, contributing to the realization of our vision to have a more comprehensive and universal healthcare in the region,” he said.
The President stressed the launch of Azuela Cove is made possible due to the boldness and vision of the real estate industry.
“This sector has been by our side in spurring growth in other sectors including commerce, employment and housing,” he pointed out.
He wished that the collaboration of Alcantara and Ayala would open more opportunities and bring about prosperity and progress in Mindanao for the future generations.