Pueblo de Oro eyes Cagayan de Oro expansion

PROPERTY DEVELOPER Pueblo de Oro Corp. (PDO) plans to expand its real-estate footprint in Cagayan de Oro City, citing the city’s strong macroeconomic fundamentals, rapid urbanization and growing appeal as a regional investment hub.

“With strong economic fundamentals, a resilient middle class, expanding infrastructure and visionary leadership, Cagayan de Oro is positioned to become the Philippines’ next major metropolitan center,” it said in an e-mailed statement.

PDO Chairman and Chief Executive Officer Guillermo D. Luchangco said the company’s upcoming residential and mixed-use projects in the city are expected to strengthen its competitiveness as a destination for long-term investments.

Among its key developments is Southridge, a 31-hectare township envisioned as a “Silicon Valley-type” community. The project is set to feature office spaces, business process outsourcing facilities, residential units, leisure areas and retail components.

PDO is also studying the construction of a World Trade Center hall within the township to support business events and exhibitions.

PDO is likewise developing Masterson Mile North, a high-end residential project consisting of five towers in Cagayan de Oro City. The towers will range from 22 to 26 storeys, with the entire project carrying an estimated development cost of P13.5 billion. The complex was designed by Gensler and Associates, a San Francisco-based architectural firm.

Cagayan de Oro City in Misamis Oriental in southern Philippines, has emerged as one of Mindanao’s most competitive investment centers, driven by sustained economic growth and a diverse talent pool. In 2024, London-based think tank Oxford Economics identified the city as the sixth-largest urban economy in the Philippines.

Data from the Philippine Statistics Authority showed that Cagayan de Oro City posted a real gross domestic product growth of 6.8% in 2024, accounting for 28.3% of Northern Mindanao’s total economic output, making it the region’s biggest contributor.

PDO said these factors have increased the city’s attractiveness to property developers, foreign hotel operators and outsourcing firms, citing assessments by Colliers Philippines.

The company also cited infrastructure developments supporting the city’s growth, including the planned expansion of Laguindingan International Airport, which is expected to reinforce Cagayan de Oro’s role as Northern Mindanao’s main gateway.

The proposed creation of the Metro Cagayan de Misamis Development Authority (MCMDA) is seen as another catalyst for urban development. The proposed body aims to coordinate transport, zoning, sanitation and public safety across the metropolitan area.

House Bill No. 5362, which seeks to establish the MCMDA, remains pending at the committee level.

Beyond Cagayan de Oro, PDO has housing projects in Batangas, Pampanga and Cebu. The company is the property development arm of Investment & Capital Corp. of the Philippines, a medium-sized group with interests spanning investment banking, venture capital and real estate. — Beatriz Marie D. Cruz