CAGAYAN DE ORO CITY (PIA) -- The Mindanao Development Authority (MinDA) spearheaded a Property Sector Profiling Forum which aims to bolster the thriving property development across Cagayan de Oro City. 

Themed "Looking into the Real Estate Potentials and Its Impact on Mindanao’s Energy Landscape," the forum held on March 26 at the Mallberry Business Hotel delved deep into identifying multi-sectoral interventions to further support this vital sector's growth and in shaping the city's future.

Addressing officials from the city government, private property development companies, and utility companies in the city, MinDA Assistant Secretary Romeo Montenegro underscored the agency’s commitment to collaborative development efforts across Mindanao. The forum, he emphasized, is part of a broader initiative to gather insights and foster sustainable growth not only in Cagayan de Oro but also throughout the region.

He said the participation of Cagayan de Oro's stakeholders is crucial to MinDA's efforts to ensure holistic development, and their inputs will help in tailoring interventions that address the unique needs and opportunities of the city.

"By looking at just the property sector, daghan ta'g makita na mga (we can see a lot of) dimensions of growth and development as well as issues, that if all together in this room are all on the same page and the same level of understanding, then definitely we would be able to achieve the kind of property growth and property sector development that is resilient and sustainable," he said.

Montenegro said their ultimate goal is to gather input from cities like Davao, Cagayan de Oro, Zamboanga, GenSan, and Butuan to create a comprehensive overview of Mindanao's property development landscape and examine opportunities in terms of the bigger scale of economic activities that can happen in these areas.

Exploring CDO's real estate landscape

Allelujah Sievert, representing MinDA's Investment Promotion Division, presented the results of the Property Sector Profiling in Cagayan de Oro City, emphasizing the importance of understanding the city's real estate landscape to guide future development endeavors effectively.

She said the study aims to form an industry profile of Mindanao’s current real estate landscapes in the different key cities of Mindanao by studying construction projects set to have a big impact on the energy requirements of the region. 

"The qualifiers for this study are those projects that are undergoing construction, that are 20 stories and higher, and those that offer more than 200 residential units. The pilot study was done in Davao, and now we are on our second leg, which is Cagayan de Oro City," she explained.

The data she presented included projected population density in the areas where various developments are underway, property pricing, buyer profiles, investment opportunities needed in the area, and concerns about resources such as power, water, traffic management, solid waste management, public transportation, flood control, health services, and security.

Government initiatives

City Administrator Roy Hilario Raagas expressed appreciation for MinDA's initiative, noting the invaluable insights gained from the forum. He emphasized the relevance of the findings to the city government's planning processes, particularly in shaping its development plans.

"We are so thankful to MinDA for sharing the results of the study. This is very critical for us, especially now that the government is in the process of finalizing its updated Comprehensive Land Use Plan," he said.

Chedilyn Aissa Dulguime, officer-in-charge of the City Planning and Development Office, confirmed that the city government is still in the process of updating its Comprehensive Land Use Plan to meet the demands of the city's fast-paced growth and development. 

She presented the proposed development thrust in CLUP, which focuses on the city's uptown, midtown, downtown, highlands, central ridge, CDO East, port town, coastal strip, and green urban areas.

According to Dulguime, the green urban initiative is a crucial element that aims to balance urban growth with ecological sustainability.

She emphasized the city's commitment to the adoption of green building technology, enforcing policies that mandate eco-friendly designs, renewable energy utilization, and using sustainable materials.

"Adopting the green urban idea is actually a shift from what we are currently doing and the current way of thinking about how we build things and how we develop communities to a new paradigm of sustainability, all for the better future of every Kagay-anon," she added. (APB/PIA-10)