National Developers Fuel a New Skyline

Cagayan de Oro, the regional center of Northern Mindanao, has rapidly transformed from a trading port into one of the Philippines’ most dynamic growth hubs. Recent data from the Philippine Statistics Authority show that the city now accounts for 7.7 % of Mindanao’s GDP and ranks second in per‑capita GDP among highly‑urbanized cities outside Metro Manila. UK‑based Oxford Economics also ranked Cagayan de Oro as the third‑largest urban economy in the Philippines, after Manila and Cebu. Unsurprisingly, this economic momentum has triggered a construction boom fueled by major developers and contractors from the capital. A Wave of New Projects from Manila‑ Megaworld’s P5‑billion Upper Central Township. In December 2024, Megaworld’s subsidiary Global‑Estate Resorts Inc. (GERI) announced that it would spend ₱5 billion to build The Upper Central, a 117‑hectare integrated lifestyle township in the highlands of Barangays Gusa and Indahag. The development will include residential villages, shophouses, mixed‑use buildings, a town centre, a central park and mountain/bike trails, with 40 % of the site preserved as green or open space. GERI president Kevin L. Tan said that Cagayan de Oro has long been on the radar of Alliance Global Group and that “now is the perfect time to take part in the booming real estate industry of this side of Mindanao—a testament to the city’s appeal to Manila‑based conglomerates.

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National Developers Fuel a New Skyline