The Philippine Retirement Authority (PRA) is eyeing the establishment of a satellite office in Cagayan de Oro City as it seeks to attract more foreign retirees and investments in international-standard retirement facilities in Northern Mindanao. During an investors’ forum held October 29 at Limketkai Luxe Hotel, PRA CEO and General Manager Bob Zozobrado said CDO has the potential to become a retirement haven, citing its facilities and other advantages. The agency is also encouraging investments in retirement communities and services, with qualified projects potentially eligible for PEZA incentives.
The initiative aims to expand Mindanao’s retirement market despite challenges posed by foreign travel advisories while promoting the PRA’s “We CARE” program to enhance retirees’ experience in the country. The Philippines was recently recognized as Asia’s Best Retirement Destination at the 2025 TripZilla Excellence Awards and ranked first in the Retirement Abroad Index 2026.
