Author Topic: Davao City: Retirement Destination for Foreigners  (Read 647 times)

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Davao City: Retirement Destination for Foreigners
« on: December 19, 2008, 08:17:22 AM »
The Philippine Retirement Authority (PRA), which is working overtime to make Davao City the focal retirement destination in Mindanao, opened on Wednesday a satellite office at the Royal Mandaya Hotel.

PRA chair Edgar Aglipay said the first step of the agency, which is under the Board of Investments (BOI), is the opening of satellite agencies in major cities around the country.

Appointed to the position a year ago, Aglipay said he has also opened satellite offices in other identified focal areas of Cebu, Baguio, Clark and Subic.

PRA is also poised to enter into a memorandum of agreement (MOA) with directly concerned sectors to come up with integrated facilities that can provide basic services to both foreign and local retirees in terms of housing, health, entertainment, sports and tourism.

Aglipay said he is set to meet the concerned sectors to discuss the matter.

The lack of facilities is one gray area which has placed Davao City last in terms of the number of foreign retirees among the five focal areas.

Baguio City has cornered about 12,000 foreign retirees.

At present, there are only about 200 foreign retirees permanently residing in the Davao City, while the rest of the estimated 2,000 to 3,000 are distributed to other areas in Mindanao.

With the establishment of the satellite office, PRA is moderately targeting to get another 300 foreign retirees per year.

He said PRA is targeting 4,000 foreign retirees nationwide next year.

Presently, there are about 20,000 foreign retirees scattered in the five focal areas in the country. source: PNA

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