CDO posts P6B investments in Q1

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Of the PHP7.8 billion investments generated in the first quarter of this year in Northern Mindanao, PHP5.98 billion was invested in Cagayan De Oro City, the National Economic and Development Authority (NEDA) said here.

The figure represents 90 percent of the total investments in Northern Mindanao from January to March 2017, the NEDA report said.

The report said the new investments in Cagayan de Oro comprised of agri-based, chemical-based, mining and metallurgical, forest-based, infra and services, energy, metals, consumer manufacturing, trading and servicing.

Lanao Del Norte, another province of Northern Mindanao, posted PHP408 million investments last quarter, followed by Bukidnon’s PHP 186.66 million, Misamis Occidental’s PHP 162 million and Camiguin’s PHP 25.7 million.

The region’s top sources of investments were construction of a new shopping mall, a new condominium project, a new coal-fired power plant, a new bulk water facility and a new water park.

The new water park alone in Opol, Misamis Oriental has already infused a total of PHP80 million in investments so far, while SM CDO Downtown Premier had the single largest investment of PHP1.07 billion followed by Avida Tower’s PHP400 million, both located in downtown Cagayan de Oro City.