The Tourism Infrastructure and Enterprise Zone Authority (TIEZA) designated Davao City’s newest dome named Kingdome Stadium owned by ACQ-Solomonic Builders Development Corporation as its new Registered Tourism Enterprise (RTE) on July 26, 2018. This RTE is located within Kingdom Global City Tourism Enterprise Zone (TEZ) in Davao City. The TEZ is conveniently located along the Philippine-Japan Friendship Highway, Barangay Catitipan, Buhangin District, Davao City which is adjacent closely to Davao City’s Bongoy International Airport.
Signing of the registration agreement and awarding of the Certificate of Registration to Kingdome Stadium as a Registered Tourism Enterprise – MICE facility inside Kingdom Global City TEZ on July 26, 2018 with (from left) Mr. Ireneo B. Odtojan, Atty. Pearl Angeli Q. Cañada, TIEZA Chief Operating Officer Mr. Pocholo Paragas, and TIEZA Assistant Chief Operating Officer Ms. Racquel Gaerlan.
This 26-hectare project will be the first world class integrated leisure resort destination in Southern Philippines that will cater to the different market seeking holidays for leisure and business. Aside from the highlighted Kingdome Stadium, the component of the Kingdom Global City includes a Condominium Hotel with an estimated 150-room accommodations facility to be positioned as a service hotel; a Hotel and Museum establishment with an estimated 120-room hotel with world class standards to cater to the luxury market and a museum; a Hangar for small and medium sized aircrafts for the operations of air taxi services for the target market and guests; a Water Park designed for family and children; and a Hotel with 150 rooms, a commercial center with restaurant and business spaces, among others.
Kingdome Stadium is a Registered Tourism Enterprise located within Kingdom Global City Tourism Enterprise Zone (TEZ) in Davao City
With a maximum capacity of 75,000 people and equipped with state-of-art technology, the Kingdome Stadium is set to be the biggest dome not only in the country but also in the whole of Asia, surpassing Singapore’s National Stadium and Japan’s Tokyo Dome with their 55,000 seat capacity. The development will strive to advocate and showcase the cultural heritage of the region to its visitors, and will serve multi-purpose activities and events such as concerts, international gatherings and sports events, and the like.
A Tourism Enterprise Zone is an area characterized by being a contiguous territory; bearing historical and cultural significance, environmental beauty or tourism potential; having strategic access to utilities and transportation; stimulating sustainable socio-economic development; at least five (5) hectares in land area; and is at least five million dollars in investment. Private entities/corporations, Local Government Units/government instrumentalities, or Joint Venture Cooperation between the private and public sector may apply for designation as TEZs. TEZs and registered tourism enterprises are granted fiscal and non-fiscal incentives, thereby creating viable investment opportunities in the tourism industry.
With the Bureau of Internal Revenue (BIR)’s clarification last year that the incentives for TEZs under The Tourism Act of 2009 or Republic Act No. 9593 may be enjoyed by investors even beyond 2019 until these incentives are fully realized, investors have until August 2019 to apply with TIEZA and avail of the full package of incentives.
Interested investors may contact the TEZ Management Secretariat at (02) 512-01-14 or email us at email@example.com and firstname.lastname@example.org. For more information about TEZs, you may visit our website, www.tieza.gov.ph, or visit us at the 7th Floor of Tower 1, Double Dragon Plaza, Double Dragon Meridian Park, Macapagal Avenue corner EDSA Extension Bay Area, Pasay City.