Record Registered Investments Surge by 5,620% in CY2018

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Record Registered Investments Surge by 5,620% in CY2018

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The GSC Investment Board (GSCIB) approved a total of 5 projects which posted a notable 25% increase in registered enterprises from last year. Four (4) out of five (5) registered projects are large enterprises with a total capitalization of more than 100 million and above which significantly contributed to the investment surge. The 5 projects consist of the following: two (2) projects came from the housing sector (Palmwoods Residences and Riverview Homes), another two (2) projects came from the health industry (GSC Medical Center and St. Elizabeth Hospital), and the last project came from the manufacturing industry (Century Pacific Food Packaging Ventures, Inc.)

Basic Data at a Glance:

Project NameCompany OwnerTotal Project Cost (Capitalization)Investment Priority Area (IPA)Incentive Duration
Palm Woods ResidencesPalmwoods Realty Development Corporation638,848,771.00Housing Projects2018 - 2023
Gensan Medical CenterGensan Medical Center Foundation, Inc.343,135,200.00Health Facilities2018 - 2023
St. Elizabeth Hospital Expansion ProjectSt. Elizabeth Hospital, Inc. (SEHI)82,500,000.00Health Facilities2019 - 2022
Riverview HomesEvergreen Homes, Inc.149,415,823.00Housing Projects2019 - 2021
Century Pacific Food Packaging Ventures, Inc. Expansion ProjectCentury Pacific Food Packaging Ventures, Inc.633,786,979.00Manufacturing Industry2019 - 2023
T O T A L1,847,686,772.00

The total active registered enterprises also increased by 17% from 12 enterprises by the end of CY2017 to 14 enterprises by the end of CY2018. The newly approved projects registered in CY2018 compensated for the expirations of incentive period awarded to Stonewood Hotel, SM City General Santos, and Greenleaf Hotel Gensan.

The CY2018 is considered a banner year for the city of General Santos in terms of registered investments under the General Santos City Investment Code of 2015.  Official records from the GSC Investment Center (GSCIC) showed a remarkable 5,620% increase in investments from a total project capitalization of Php 323,003,196.00 registered in 2017 to Php 1,847,686,772.00 registered in 2018. The growth in investments in the city is primarily driven by the booming sectors in the real estate industry and the health industry. [Please refer to the table above]

In terms of gross sales receipt, the total active projects in CY2018 achieved a 53% growth from Php 2,891,858,686.00 gross sales income in CY2017 to Php 4,417,316,767.00 gross sales income in CY2018. Total employment generated (direct employment) from the total active projects also increase by 218% from a total of 147 jobs generated in CY2017 to 467 jobs generated in CY2018. The indirect employment generated from various outsourced and contracted jobs during the construction phase of each project was not indicated in the aforementioned figure.

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