Local alumni of the prestigious Harvard Business School recently saw first-hand the emergence of Cagayan de Oro as the Philippines’ fourth metropolitan area and a rising hub of innovation and inclusive growth during a visit to this thriving Misamis Oriental city on Mindanao’s northern seaboard.
The Harvard Business School Club of the Philippines Global (HBCPG), the officially recognized Harvard alumni association in the country, chose Cagayan de Oro as the inaugural destination of its Harvard Travel Series — underscoring CDO’s growing prominence and sparking interest among both the business community and the general public.
Hosted by Guillermo D. Luchangco, Chairman & CEO of Pueblo de Oro Development Corporation (PDO) and Harvard Business School alumnus (’67), the trip gathered alumni leaders including Patricia-Ann Prodigalidad of ACCRALAW and Maria Carolina Dominguez of John Clements Consultants. The visit blended cultural immersion with strategic briefings, illustrating why CDO is increasingly viewed as a model for balanced regional development.
During a luncheon, Luchangco recalled his pioneering move in 1995 to develop 360 hectares of Uptown CDO — a decision driven by the city’s strong middle-class profile: 77 percent of households in the middle-income bracket, 5 percent in high-income, and only 18 percent in low-income.
“It would be hard to find another Philippine city with those kinds of numbers,” he emphasized, citing the city’s unique economic base and its role as Northern Mindanao’s entrepot trading center. He then posed a provocative challenge: “If Chicago is known as the Second City in the United States after New York, couldn’t Cagayan de Oro aspire to be the Philippines’ second city?”
Cagayan de Oro has earned international attention. Oxford Economics ranks CDO as the sixth-largest urban economy in the Philippines and among the top 1,000 globally by 2025. Locally, the Bureau of Local Government Finance (BLGF) reported ₱3.15 billion in revenues in 2024 — second only to Davao — with higher per-capita productivity despite its smaller population. The Bangko Sentral ng Pilipinas (BSP) also recorded ₱163.39 billion in deposits, placing CDO second in Mindanao after Davao and ahead of Cotabato, Zamboanga, and General Santos.
Colliers Philippines likewise identifies CDO as one of Mindanao’s most competitive investment hubs, attracting national developers, foreign hotel brands, and outsourcing firms. Its strategic location and expanding talent pool boost its appeal to residents and investors, while the planned expansion of the Laguindingan International Airport is expected to further cement its role as Northern Mindanao’s primary gateway.
The proposed Metro Cagayan de Misamis Development Authority (MCMDA) is set to consolidate metropolitan-wide planning and infrastructure management. Modeled after the Metropolitan Manila Development Authority (MMDA), the MCMDA aims to coordinate transport, zoning, sanitation, and public safety to support sustainable urban growth.
For his part, Luchangco said Pueblo de Oro aims “to contribute to the equation in terms of modern-age innovations,” noting that the company is preparing to launch two transformative projects that will enhance the city’s competitiveness as an investment destination.
Masterson Mile North, a five-tower luxury condominium complex designed by Gensler and Associates, a San Francisco-headquartered international architectural firm, will elevate residential offerings in CDO. Meanwhile, the Southridge Development — a 31-hectare mixed-use township envisioned as a “Silicon Valley-type” hub — will feature offices, BPOs, residences, retail, and leisure spaces, with a World Trade Center under consideration.
For the visiting Harvard alumni, CDO’s sophistication and dynamism were unmistakable. Dominguez described Uptown CDO as “bustling with a vibe like Makati,” while Haidee Enriquez, CEO of Micro Sourcing, a leading business process outsourcing (BPO) firm, praised the city’s ICT ecosystem and talent pool, saying CDO is “flying below the radar” but poised for national impact.
With strong economic fundamentals, a resilient middle class, expanding infrastructure, and visionary leadership, Cagayan de Oro is positioned to become the Philippines’ next major metropolitan center. HCPG’s decision to launch its Harvard Travel Series in CDO signals growing international recognition of the city’s potential as a hub for investment, innovation, and inclusive development.