Mindanao’s real estate sector is experiencing rapid expansion, fueled by infrastructure projects and urban development, according to the Mindanao Development Authority (MinDA).
MinDA Secretary Leo Tereso Magno reported that residential and commercial property demand has surged, particularly in Davao City, where business activities continue to grow. Data shows that condominium occupancy rates in the city range from 95 to 100 percent, with luxury units attracting buyers from outside the region.
A Colliers Philippines report highlighted a 160-percent increase in condominium sales in the first half of 2022. This growth is attributed to Davao’s rise as an outsourcing hub, major projects like the Mindanao Railway, and the entry of national developers.
Magno emphasized the importance of sustainable development to ensure responsible resource management amid rapid urbanization. “The influx of property investments reflects investor confidence, but we must address the increasing demand for water, energy, and other essential resources. Growth must be sustainable,” he said.