Real Estate Potential in Naga City
Naga City is one of the economic and commercial centers of the Bicol Region in the Philippines. It is quite industrialized and commercialized. It is widely considered to be one of the most business friendly cities in the whole of Asia. It is also regarded as one of the most competitive cities in the country of the Philippines. A big reason behind all this financial success is the rapid technological advancements that have happened in the city over the years. There a specialized cyber zone in Naga City which there is free internet access available for all. The internet access speed may become slow as a lot of users utilize it but it is still beneficial as it is totally free. Entrepreneurs and businessmen have lauded the city for being a haven for business and enterprise. Another cause for all the economic success is that Naga is located in a very strategic position that is the heart of the Bicol region.
There is a Central Business District in the city where most of the economic activities take place. This District is also known as the downtown of the city. The district is surrounded by shops, markets, offices, universities and malls. Therefore, it can be said that it is one of the most busiest and vibrant areas of the city of Naga. There is also an agro-industrial zone in the city to promote and strengthen the collaboration between industry and agriculture. This is also a means to capitalize and make advantage of Bicol’s abundant agricultural resources. This agro-industrial-zone covers an area of over 300 hectares. This zone has grown over the years largely due to the incentives provided by the PEZA (Phillipine Economic Zone Authority). There are a large number of banks scattered throughout the city as well. The most prominent banks include the Bamco De Oro, Development Bank of the Philippines, RCBC, MetroBank, China Banking Corporation, and Asia United Bank.
Hence, there is no denying the fact that money is flowing all around the city of Naga. A large chunk of this money is somehow involved in the vibrant real estate business of the city.
