Davao City grants incentives to three projects worth P48.9 billion

Three major projects with a combined value of about P48.96 billion have been granted local investment incentives in Davao City, according to Edge Davao, citing the City Information Office.

The Davao City Investment Promotions Center (DCIPC) approved incentives for Therma South Inc.'s power plant project, valued at P47.946 billion; DavCon Events Center's Davao Convention and Trade Center, valued at about P834 million; and Alsons Development and Investment Corporation's paid parking facility, valued at about P181.3 million.

DCIPC head April Marie C. Dayap described the total as one of the biggest investment values the city has generated, noting that the figure covers 2026 alone.

Under incentives approved by the Davao City Investment Incentive Board, the companies will receive a five-year business tax exemption, a three-year real property tax exemption, and a five-year exemption from the Mayor's permit, fees and licenses, Dayap said. These incentives are available to projects in sectors including agribusiness, tourism, technology, manufacturing, infrastructure, property development, health, education, eco-industry and inclusive business.

The projects are expected to support energy generation, tourism and transportation infrastructure. Therma South's project is expected to create at least 2,150 jobs, including up to 2,000 during construction, while the DavCon project is projected to generate at least 430 jobs.

Dayap said that while the city is granting tax breaks now, it expects substantial revenue in the future, particularly through employment, which she said is the Mayor's focus.

She added that interest from other investors is rising, especially in property development. Dayap said the office may not be able to process all of them this year, but more property development projects are expected in 2027.