For years, Davao City has been Mindanao’s most important city. Dubbed as the Philippines’ fruit basket, many of the well-known fresh produce exported all over the world, including Cavendish bananas, pomelo, pineapples, and mangosteen, originate here. The city is also an important gateway, being home to both Francisco Bangoy International Airport and the Port of Davao, while its business process outsourcing (BPO) industry is rapidly growing, providing numerous jobs to the city’s young population. Now, with the incumbent Philippine president being a Davao local, we can expect the city to only grow in the years to come. Likewise, the demand for a commercial space for rent in Davao will also continue to increase.
Being one of Davao City’s main growth drivers, the aforementioned agricultural industry also provides opportunities to real estate investors in the form of warehouses and similar commercial properties. Indeed, the city’s fresh produce and other agricultural products need to be stored somewhere first before they are transported elsewhere, and business people savvy enough to invest in a commercial space for rent in Davao will benefit from this highly viable business venture.
Warehouses for rent in Davao City are highly concentrated in the area of Agdao, which is close to both the Port of Davao and the city’s downtown area. The average monthly rental rate for a warehouse here is more or less PHP 450,000 and is perfect for those in the trading business.
Another type of commercial space for rent in Davao City that is proving to be highly viable is office space. With the city’s rapidly growing entrepreneurial scene, many starting business owners are in need of office spaces for rent, especially those that offer flexible and affordable rates.
Co-working spaces can be rented in places like Damosa IT Park in Lanang, which is close to SM City Davao and the city’s downtown area. The standard co-working space that can fit one to three people has an average monthly rental rate of around PHP 6,720, which is perfect for entrepreneurs currently in their bootstrapping stage.
On the other hand, those looking to set up a shop or a restaurant can take advantage of the city’s prime downtown area to look for a viable commercial space for rent in Davao. A location near Palmetto Place in Barangay Ma-A is ideal for this purpose. The area is close to schools and malls, and would be a perfect spot for a convenience store, a dry goods shop, or even a restaurant, given the area’s high foot traffic.
Indeed, people planning to set up a business will easily find a commercial space for rent in Davao fit for whatever business venture they wish to pursue.