CenVis Shows Strong Economic Performance Last Year

The National Economic and Development Authority (NEDA) 7 noticed “impressive performances” in Central Visayas’ economic performance last year.

NEDA 7’s report submitted to the Regional Development Council 7 showed that the region’s top performers in 2012 were the industries of information technology/Business Process Outsourcing (BPO), construction, retail trade, tourism, construction and real estate.

NEDA7 said that the construction sector’s “upbeat” performance was from the number of buildings constructed in 2012 than in the year before that. Cebu records 153 new projects, second to Negros Oriental’s 277.

The region’s real estate industry was also performing, with a revenue growth triggered by an increase in residential properties. In Cebu, for one, the real estate revenue growth rate reached at 18.8% in the third quarter of 2012 alone. The Housing and Land Use Regulatory Board record shows that last year, about 14 residential condominium projects were issued licenses to sell.