CDO is Most!

By Team CDOkay

We envy that city for producing a Manny Pacquiao. But have we known this latest knockout of a news that Cagayan de Oro is the fastest growing city in the Philippines in terms of economic development? A resounding “Yes!” -- and we wonder how many rounds it took us to get this feat.

Here are a good number of reasons why CDO shows a lot of potential lately. Please count the superlatives and take pride Kagay-anons!

The city’s portal

Enter the City of Golden Friendship via air and sea. From Metro Manila it only takes an hour and a half by air, and 24 hours by the sea. Cagayan de Oro’s Lumbia Airport is the sixth busiest airport in the entire country. Guests to the city will like it that the welcome starts from the uphill with all the green scenery.

Via sea, the famed Macajalar Bay beckons. And there should be no hassle since Cagayan de Oro’s seaport is the most modern in the country outside of Metro Manila.

Power supply

You will know it when you see how well lit CDO is. Considered as Asia’s biggest, CEPALCO’s Photovoltaic Solar Power Plant provide the city with cheap but quality power supply.

Financial Institutions

When it comes to financial institutions, CDO has the most outside of Metro Manila. There are four Uni-banks, and almost all of the country’s leading commercial banks have branches in the city. To name a few: Allied Banking Corporation, BPI Family Bank, Equitable-PCI, Developmental Bank of the Philippines, and Metrobank and Trust Company.

Telecommunications

CDO has state of the art telecommunications to support its businesses and residents. There are five telecommunications company that offers national and international direct dialing options. The city also has well-established cell sites of major mobile telephone companies of the country.

Domestic broadband are also available providing Digital Subscriber Lines (DSL) connections and WI-FI Technology (We have the list of WI-FI hotspots in CDO).

Economy

The city is often used as a springboard for conglomerates entering Mindanao. One of such multinational is the German owned STEAG State Power Inc. with a USD 305 million investment, considered as the biggest single foreign investment to come in Northern Mindanao in ten years.

Combined with Misamis Oriental, the city comprises a total of 50% Northern Mindanao region’s export.

Tourism

Cagayan de Oro also boosts a world-class 18-hole all-weather championship golf course tucked in the 360-hectare Pueblo de Oro Township. Golfing Philippines ranked Pueblo de Oro golf course as the 4th best in the entire archipelago.

Around 40% of the tourist coming to Northern Mindanao stays in CDO, and Misamis Oriental province. Most of these tourists are Japanese, Americans, Koreans and Germans.

Housing Facilities

For the past five years the city’s real estate has grown quite massively. At present, there are 120 subdivisions that cater both to the needs of the low end and the high end. Most real estate developers offers packages ranging from a lot area of 80 sq. m for the low-end, and 300 sq. m to 1000 sq. m for the high end.

Cost of doing business

Compared to other cities, CDO has cheaper economic rate. A Kagay-anon’s daily minimum wage is Php. 201.00-218.00, or USD 3.00-4.00. Even commercial lots are cheaper, Php. 8,400.00-15, 000.00 (per square meter) or USD 161.00-288.00. Telephone installation only costs Php. 2, 95-4, 500 (USD 57-86). Car rentals are as low as Php. 850.00-8,000.00 (USD 16.00-153.00).