Economy
The Bay City Sorsogon, that is currently being built at the coast of Barangay Balogo will definitely have a huge impact on the economic growth of the city. It is a priority project of LKY Development Corporation, a privately-owned real estate company. The Bay City Sorsogon includes a Commercial Complex, Five Star Hotel, Coliseum, Outdoor Dining Area, a Central Bus Terminal and a lot more. The excavation of this 16-hectare property just started during the last quarter of 2010 and the completion is expected by the 3rd quarter of 2011.
It host most of the banks around the province like Landbank of the Philippines, Metrobank, Allied Bank, Bank of the Philippine Islands, Development Bank of the Philippines, United Coconut Planters Bank, Chinabank, Philippine National Bank, Camalig Bank, BDO UniBank, Postal Bank, Producers Bank and Green Bank Inc.
Read more about this topic: Sorsogon City
Famous quotes containing the word economy:
“Everyone is always in favour of general economy and particular expenditure.”
—Anthony, Sir Eden (1897–1977)
“Cities need old buildings so badly it is probably impossible for vigorous streets and districts to grow without them.... for really new ideas of any kind—no matter how ultimately profitable or otherwise successful some of them might prove to be—there is no leeway for such chancy trial, error and experimentation in the high-overhead economy of new construction. Old ideas can sometimes use new buildings. New ideas must use old buildings.”
—Jane Jacobs (b. 1916)