Unlocking potential: Bacolod’s promising investment landscape
Bacolod has rightfully earned its title as “The City of Smiles,” symbolizing the innate warmth and affable nature of its residents.
The city’s charm, however, extends beyond its friendly reputation, as one can’t help but marvel at the remarkable transformation it has undergone in recent years and the diverse opportunities it presents owing to several factors.
A skilled workforce
In 2023, Bacolod City produced 7,236 fresh graduates, predominantly specializing in business and information technology (I.T.). It’s a strong indicator of its educational capacity to support the demands of modern industries, particularly the business process outsourcing (BPO) sector.
In conjunction with the recent establishment of new business districts, this momentum has significantly contributed to job creation, resulting in over 34,000 individuals securing full-time positions with major BPO firms.
Moreover, Bacolod’s BPO landscape continues to flourish, evident in the substantial demand for office space, as recorded by Leechiu Property Consultants (LPC), surpassing the 5,000 sqm in 2023 alone.
These trends highlight Bacolod City’s status as a thriving hub for BPOs and a prime investment destination that offers access to a highly skilled workforce and globally competitive business environment.
Booming infrastructure developments
Massive investments from the country’s leading property developers, coupled with the construction of major road projects, are poised to usher in a new era of infrastructure advancement.
Bacolod City is on the brink of profound transformation with substantial infrastructure projects to be implemented in the first quarter of 2024.
Ongoing initiatives such as the expansion of the Bacolod-Silay International Airport Road and the Bacolod-Negros Economic Highway (Banoceh), are crucial for facilitating quicker and more convenient access to key tourist spots, business districts, and transport hubs all which underscore Bacolod’s commitment to progress. These monumental infrastructure developments serve as catalysts, enticing investors with an environment that is ripe for growth.
Upgraded lifestyles fueled by local demand
Bacolod’s employment rate remains high at 93.38 percent, as it continues to solidify its position as one of the country’s leading destinations for the BPO industry.
These impressive metrics translate into lower unemployment rates and increased disposable incomes among Bacolodnons.
As a result, residents are recognizing and appreciating what their city has to offer. Whether it’s dining out, supporting local businesses, or venturing into real estate investments, Bacolodnons are actively engaging in economic activity that is spurred by the city’s growth.
Prime location for residential dev’ts
The heightened economic activity has not gone unnoticed by developers, who continue to perceive Bacolod as a prime location for residential projects such as houses, lots, and condominiums. Developers have also continued to expand their township developments and are opening new phases of their projects to capitalize on this momentum.
Notably, condominium prices have peaked, reaching a high of P249,000 per square meter in the Metro Bacolod area, a testament to the city’s robust real estate market.
This boom in development is fueled by a shifting lifestyle among locals who want to take advantage of property investment as an alternative source of income, a trend further supported by the growth of the BPO sector.
Moreover, LPC has observed a growing trend of inquiries from Bacolodnons seeking advice on the best use of their land or property, whether it’s for agricultural, commercial, or industrial purposes. This uptick reflects a positive shift in the confidence of the local population, demonstrating their proactive approach to contributing and participating in Bacolod’s growth.
With all the key elements in place, the only question that remains now is whether you choose to take part in it.
The author is a manager of the Investment Sales team at Leechiu Property Consultants, Inc.
