Duka Bay Dive Spot

The region’s tag as the extreme adventure capital has brought Italian investors to Cagayan de Oro to scout for possible investments in eco-tourism and extreme sports tourism.

Led by ItalPinas President and Chief Executive Officer Romulo Nati, the firm who designed Primavera Residences currently under construciton at Pueblo de Oro, the group also includes Francisco Consalvi, a professional diver and representing another Italian investment firm, and Christian Marri, a media expert who works for National Geographic, Italia.

During the press conference held recently, Mr. Consalvi said they are astonished at the wonderful dive sites in the region which are not advertised in Italy. Consalvi added that dive spots in Egypt are nothing compared to Duka Bay and Panglao in Bohol.

Marri on the other hand said their scouting is on an exploratory phase and have taken positive inputs on sites in Cagayan de Oro, Misamis Oriental and Bukidnon.

The Italians said the ongoing construction of Laguindingan Airport is a big factor in their future investment in the region.

Also, the Italians said they have waited long enough for the construction of Panglao International Airport but it seems it is being scrapped.

Mr. Consalvi cited the growth and return of investments in Cagayan de Oro is even better thatn the current growth in Europe, which he puts at 1%-2% per annum while in Cagayan de Oro it is around 9%-10%.

Mr. Nati on the other hand said that Italians have also bought units at Primavera already.

The presence of universities and restaurants in the region also goes well with the Italians as they are willing to hire ambitious graduates for their investments and Italians love food, respectively.

photo by Lyhra; with portions of article by Bobby Lagsa of Gold Star Daily

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