SAN FERNANDO CITY, La Union – The number of licensed real estate projects in Region 1 posted a remarkable 14% annual growth rate for the past seven years, from 2000 to 2007.

This was disclosed by Regional Director Teresita Valdez-Galacgac of the Housing and Land Use Regulatory Board (HLURB), speaking during a recent Real Estate Developers Conference at Hotel Mikka here.

Galacgac said this was based on records of subdivision projects, condominiums and memorial parks licensed by HLURB in Pangasinan, La Union, Ilocos Norte and Ilocos Sur.

Records showed these projects increased by 14 percent from 2000 to 2007compared to the annual growth rate of 5.5% from 1981 to 1999, showing the booming of the real estate industry in the region.

Galacgac said this is “indicative that the real estate industry in the Ilocos-La Union-Pangasinan Region is very much alive, and is here to stay to boost the bid of Region 1 of becoming an industrialized region and international tourism center in the next 10 years.”

Noting the big number of attendance in that conference, she acknowledged the presence and support of not only the leading local developers but also big-time national developers in the Ilocos Region.

These include the Robinsons Land Corporation, Jamaica Realty Corporati0on, Crown Asia, South Rock Realty and others which have recently expanded their operations to the cities of Candon in Ilocos Sur and Laoag in Ilocos Norte.

Galacgac reported that Region I has now 322 licensed real estate projects, of which 86% are residential subdivisions, 12% are memorial parks, and the rest condominiums.

These development are spread regionwide with 54% found in Pangasinan, 26% in La Union, 10% in Dagupan City, 7% in Ilocos Norte and 4% in Ilocos Sur.