Mati City in Davao Oriental province is now experiencing an influx of investors mostly engaged in tourism-related businesses, an official said.
Mati City Promotions and Investments chief Tanya Rabat-Tan said the investors are particularly interested in the commercial area within the 7-km. beachline of Barangay Dahican, which has become a favorite summer destination for its white sand beach.
However, in an interview on Monday, Tan said the booming tourism industry has led to the rising rate of land acquisitions, causing the value of real estate in the area to shoot up from PHP1,000 per square meter to PHP10,000 per square meter in the past three years.
The investors are coming in from other regions and provinces, even from Manila, she said.
Mati City has 17 resorts and hotels and Tan said the city government is still swamped with inquiries from prospective hotel operators.
Tan said the real estate buying frenzy is expected to further swell once the rehabilitation of the Mati Airport is completed.
“We hope the airport operates within the year,” she added.
For the first quarter this year, Tan said the city government already recorded 90,000 arrivals. In 2017, she said the total arrivals peaked at 290,000.
Mati City boasts of the “Sleeping Dinosaur” in Pujada Bay, which holds the distinction as the city’s “most photographed attraction.”
Tan said the place used to be called “Taytay Daga”, a Mandaya word for lady crossing the bridge, but was later named as sleeping dinosaur as its shape resembles that of a dinosaur. It is a popular stopover before reaching the city.
Meanwhile, the city is hosting the “Pujada Bay Invasion: 1st City of Mati Dragon Boat Competition” on June 17, with 12 teams competing.
Recently, Mati City also hosted the National Skim Boarding Competition and the National Frisbee Invitation Tournament as part of the Visit Davao Summer Festival 2018. (PNA)