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 Name||Company Owner||Total Project Cost (Capitalization)||Investment Priority Area (IPA)||Incentive Duration|
|Palm Woods Residences||Palmwoods Realty Development Corporation||638,848,771.00||Housing Projects||2018 - 2023|
|Gensan Medical Center||Gensan Medical Center Foundation, Inc.||343,135,200.00||Health Facilities||2018 - 2023|
|St. Elizabeth Hospital Expansion Project||St. Elizabeth Hospital, Inc. (SEHI)||82,500,000.00||Health Facilities||2019 - 2022|
|Riverview Homes||Evergreen Homes, Inc.||149,415,823.00||Housing Projects||2019 - 2021|
|Century Pacific Food Packaging Ventures, Inc. Expansion Project||Century Pacific Food Packaging Ventures, Inc.||633,786,979.00||Manufacturing Industry||2019 - 2023|
|T O T A L||1,847,686,772.00|
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.