Cebu’s booming economy: The best place to invest

Cebu is the city on Cebu Philippines. It is known as the Queen City of the South. It is one of the popular tourist destinations in all the Philippines for foreign tourists. Cebu has the largest sea port in the Philippines. It is the fastest growing large city in the nation with an annual growth over 5% per year. 

Many ongoing real estate constructions such as hotels/resorts, condominiums, super malls, BPO’s, schools and hospitals are now spreading in different areas of Metro Cebu. And soon the SM Seaside City Cebu will be the largest mall in the Philippines and the 4^th largest Worldwide. With all the beaches and the great singers of the Philippines collide. Cebu will grow more and known to its economy and industry.

This is probably one of the reasons why numerous investors are rushing to get their hands on real estate that they can rent out. There is a catch though, when you are a foreign investor wishing to purchase property in the country – you can’t, unless if you are married to a local, or you are running a company that is 60% owned by locals. What you can do however, is to lease property for extended periods of time (maximum of 50 years, with a 25 year extension option) and to construct, as well as own, the buildings that are on these leased properties.

Economic stability: The major economic drivers of growth in Cebu in recent years have been tourism and the IT (Information Technology) sector. Cebu’s output dominates in the region; its growth has a positive impact on regional provinces. For instance, as tourism in Cebu grew, the potentials of Bohol and Dumaguete (in Negros Oriental) became even more marketable.

Tourism: Foreign and domestic. Tourist visitor come over to Cebu region has been growing at double-digit rates, creating and expanded demand for hotels and resorts.

Tourist arrival statistics to the Central Visayas is now close to three million, well in hand in expectations. For years, Cebu’s visitors were domestic tourists. Foreign tourists are beginning to account for more visitors.

The BPO (business process outsourcing) boom: Part of the Philippines economic growth is the BPO industry expanded to Cebu from Metro Manila.

They require workers with college education, who possess high skills in speaking of foreign language or at least very trainable skills. For this, they pay a high entry wage.

The position of Cebu as an educational center in the Visayas helped to attract information technology companies to set up in Cebu first.  In turn, if the industries will be more grow, the major universities and training institutes collide as an Educational Development Foundation group to promote the further improvement of its human resources in relation to the industry need.

Dynamic future secure

A massive mixed use commercial center is rising in the new reclaimed land. SM is constructing major shopping facilities and a large convention center for Cebu. SM Seaside City Cebu is a shopping mall owned and developed by SM Prime Holdings located in Cebu City, Philippines. It is expected to open in 2015. It will be the third SM’s mall in Cebu and 52^nd mall in the Philippines. SM has a proven record in repeating commercial successes for its property investments. This property company has been good at repeating its success in these type of ventures.

Investing in Cebu is a good thing because Cebu is not only the second largest city in the Philippines, but also one of the fastest growing in terms of economic stability.