Japanese and Korean investors are considering sites in Davao City for retirement villages of their foreign nationals.
Teolulo Pasawa, Department of Trade and Industry city director for Davao City in an interview said that these investors are just validating the areas even as he said that they already had registered their businesses at the Securities and Exchange Corporation (SEC).
He said the Japanese investor still has to conduct ocular on the recommended sites where the basic requirement is accessibility to medical facilities.
The sites he said are areas with building for dormitory type or a raw site ideal for retirement villages.
The retirement village is an expansion of their existing business in Davao City of the Menogaia Corporation, a business process outsourcing business that caters to clients in Japan for designs and architecture and the English as Second Language where Davao Based instructors teach English on line to Japanese nationals.
Pasawa said they already have 100 workers for both the designs and architecture and the on-line language.
“Knowing the increasing cost of retirement facilities in Japan the investor had considered this investment as a big potential in Davao City,” he said.
Meanwhile the Korean investor is looking at developing an area in Buhangin for a mix-use of hotel, retirement part and for residential areas.
He said the Good Morning Company has a 10-hectare area located in between Robinsons and Panorama Subdivision.
The company he said already will start construction within the year although he did not give details about the project.
He said the two investors also did not specify whether they already made arrangements with the Philippine Retirement Authority but he stressed that it would be an advantage if these proposed retirement villages be enrolled at the PRA so they gets the promotion to attract more clients.
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Davao is a wonderful place to live in.
being in the philippine is REALY FUN, I love the Filipino Hospitality and caring attitude. I there any iformation center the retiries could go for to look for caregivers at the retirement village? thanks alot!
Philippine is a Great place and I think Davao is like a heaven for peole who needs relaxation and peaceful life after retirement…..
Yes, the Pilippines is a great place to retire if it were easy to do so. Unfortunately, the Pilippine government is not doing a very good job at attracting foreigners to its´ country. It is not competitive with Thailand, or Malaysia and compared to the South American countries and Mexico, these countries are way ahead of the Pilippines. I believe part of the reason is also the greed of the Pilippino government and its´ ineptitude as a business people. Also, it is one of the most corrupt and ineffective political systems in Asia. I love the Pilippino people and the country, but it really needs to rethink how it is going about attracting people to live there. You can own property in South America and Central America, but not in the Pilippines- only a condo in a building that is 51% Pinoy owned. The overall process to get any kind of a visa is also very discouraging to anyone who wants to relocate there.