MALAYAN Insurance Co. Inc. (MICO) formally broke ground on the redevelopment of its longstanding Davao property along J.P. Laurel Avenue, marking a significant milestone in the company’s continued investment in Davao City after 50 years of presence in the region.
Originally inaugurated on April 12, 1976, the MICO Davao building has stood as a familiar fixture in the city’s business district for half a century, serving generations of clients, partners, and businesses in the community. As Davao continues to emerge as one of the country’s key economic and commercial hubs, Malayan Insurance is ushering the property into a new era through the development of a modern five-story mixed-use facility designed to support the city’s evolving landscape.
More than a redevelopment project, the new MICO Davao reflects the company’s long-term confidence in the growth and potential of Mindanao. The upcoming facility is envisioned to become a vibrant business and commercial destination that contributes to the area’s continued urban revitalization while creating opportunities for enterprises, retailers, and the wider community.
Designed by WV Coscolluela and Associates (WVCA), the new building will feature a contemporary glass-and-steel facade that reimagines the site for the next generation. The redevelopment also places strong emphasis on resilience and sustainability, integrating enhanced structural and seismic safety standards alongside energy-efficient and environmentally conscious design features aligned with modern ESG principles.
The project also contributes to Davao City’s urban development by improving accessibility and helping strengthen the business environment along J.P. Laurel Avenue.
“This project is deeply meaningful to us because MICO Davao has been part of the city’s story for over 50 years,” said Paolo Y. Abaya, Malayan Insurance’s president and CEO, “Through this redevelopment, we are reaffirming our commitment to Davao and investing in a future-ready space that we hope will continue to serve businesses and communities for generations to come.”
The groundbreaking ceremony was successfully held on June 8, 2026, with project completion targeted for January 2027 and grand inauguration planned for March 2027.
