Despite the stigma attached to Mindanao as an “unsafe and risky” region to invest in, Cagayan De Oro government officials said the city is seeking investment partners for P44.3 billion worth of investment projects in the areas of transportation, power, water, and property.John W. Asuncion said, Local Economic Development and Investment Promotions Officer .
Moreover, Raagas cited a Filipino-Italian company that’s into real estate that has been operating in Cagayan De Oro for more than 10 years already. Italpinas. It’s owned by a group of Italians with local partners. They have started developing real estate condominiums there,” Raagas said. For the development, construction and operation of the Cagayan de Oro City Sewerage Project, the CDO LGU noted in the investment opportunity document that the investment would cost P4 billion.
Meanwhile, CDO is also pitching to investors a waste-to-energy project, which would cost P4.5 billion. This project, the investment pitch document noted, was proposed by the city to address the increasing solid waste volume of CDO and the opportunity of turning these waste to produce power. In the area of transportation, CDO is inviting investors to invest in the development, construction and operation of the CDO Aerial Mass Transit System. The city government said in its investment pitch document that this project would cost P8.8 billion, with the system expected to cater up to 4,000 persons per hour per line with fare rates ranging from P25 to P50.
With this project, the city sees an opportunity to transform a single-owned, empty 39-hectare property into a master-planned, mixed-use business center.