EDITORIAL - The next success story

While investments pouring into the Philippines have been decreasing this year as the country heads into an economic downturn amid the grave financial crash in the world's largest economy, the United States, Cebu seems to be going in the right track in promoting itself as an investment haven.

For one, the local real estate industry becomes one of the busiest in the country, with many developers struck keen interest in Metro Cebu's vibrant economy. Leading real state players in the country have already been tendering proposals for bigtime developments in Cebu.

A few days ago, an eye-popping proposal from the country's leading property developer, Filinvest Land Incorporated, to develop at least 50 hectares of South Road Properties caught the attention of Cebuanos.

In what would become the biggest project proposals ever submitted from a single developer, Filinvest officials told Cebu City Mayor Tomas Osmeña that they are willing to infuse up to P80-billion investment into the SRP, a prime reclaimed lot property envisioned to be the landmark that would change the face of Metro Cebu into the country's new financial capital.

Filinvest is the latest of the country's leaders in real estate industry that took notice of Cebu's potential. Earlier, land development arms of Ayala, SM, Aboitiz, Robinson's, among others, have already made their presence in Cebu, embarking on huge undertakings from housing projects to commercial developments.

Cebu has what it takes to be the driver of economic growth in the country. As the center of learning in the Visayas and Mindanao, Cebu has the talents to cater to any field of investments.

A testament to its large pool of talents is the sprouting of countless business process outsourcing offices around the Metro that employed thousands of fresh graduates.

As Senator Mar Roxas envisions yesterday during a lunch with several local newspaper editors, Metro Cebu is well on its way to become the next Singapore which, from being a slump district, evolved into one of the richest states in the world in just a couple of decades.

If Singapore made to the world's elite, there's no reason why the Cebu story cannot be a success in years to come.