Mindanao: Mindanao's real estate sector is experiencing significant growth, driven by infrastructure development and urban expansion, the Mindanao Development Authority (MinDA) reported Monday. MinDA Secretary Leo Tereso Magno highlighted the unprecedented demand for residential and commercial properties, fueled by increasing business activities in the region, particularly in Davao City.

According to Philippines News Agency, occupancy rates for condominiums in Davao City range from 95 to 100 percent, with luxury properties attracting buyers from outside Mindanao. Colliers Philippines reported a 160-percent surge in condominium sales in the first half of 2022, driven by Davao's growth as an outsourcing hub, ongoing projects like the Mindanao Railway, and the presence of national developers.

Magno emphasized the importance of sustainable development to balance rapid urbanization with responsible resource management. He stated, "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."