MANILA, Philippines - Davao City has once again made it to the tourism map of the Philippines with the designation of Kingdom Global City as a general leisure tourism enterprise zone (TEZ) .
Kingdom Global City is a 21-hectare entertainment compound located in Barangay Sasa, Davao City.
Joy Bulauitan, Tourism Infrastructure and Enterprise Zone Authority (TIEZA) assistant COO for TEZ management sector, said the complex was chosen because it could provide the infrastructure and facilities to accommodate the growing number of tourists in Mindanao.
Kingdom Global City has a total development cost of P7.9 billion and was master-planned as an integrated tourism complex comprising of the Kingdome Stadium, King’s Palace Hotel, Queen’s Palace Hotel, Aviation Complex and an amusement park.
Upon its completion, it is expected to have 420 hotel rooms and will generate about 11,000 jobs and economic activities.
With the TEZ recognition, investors in the area will be given fiscal and non-fiscal incentives, such as income tax holidays and duty-free importation of capital equipment.
TIEZA is encouraging other enterprises to apply for TEZ designation to avail of all the offered incentives and help its surrounding community through tourism development.
It has so far designated 12 TEZs all over the country.