Vol. XXII, No. 26 [ BusinessWorld Online ]
Monday, September 1, 2008 | MANILA, PHILIPPINES
TWO EAST ASIAN firms are putting up retirement villages in Davao City. Japanese business process outsourcing (BPO) firm Meno Gaia Corp. is expanding by building a retirement village in the city, while Korean Good Morning Co. might develop a 10-hectare area for a mixed-use hotel and residential project.
Meno Gaia is looking at existing dormitories or raw sites in Davao near medical facilities, the Trade department said in a statement. The firm runs architecture consultancy and English training BPOs in the city.
Meanwhile, Korean investor Good Morning Co. is expected to start construction of its mixed-use project in Buhangin, Davao City, within the year. Both investors may register with the Philippine Retirement Agency (PRA) to get incentives and promotion assistance. The PRA earlier said the Philippines can support one to three million expatriate retirees remitting $18 billion-$54 billion annually. — J.A.D. Hermosa
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