THE PHILIPPINE government’s ambitious infrastructure program is expected to reshape the real estate market, driving up land values and office lease rates, according to analysts.
“Massive public investments in infrastructure should stoke Philippine property, benefiting developers with condominium projects across the country,” Joey Roi Bondoc, director and head of research at property consultancy group Colliers Philippines, said in an interview with BusinessWorld.
“Buyers of luxury projects will likely gravitate towards residential developments near public infrastructure projects,” he added.
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Transport infrastructure projects, such as the Metro Manila Subway, expected to be completed in 2028, are seen to benefit major central business districts (CBDs) like Quezon City, Ortigas, Fort Bonifacio, Pasay, and
Valenzuela.
Other projects awaited by property developers include the Mass Rapid Transit (MRT)-7 and 4, the Manila-Clark Railway, the New Manila International Airport in Bulacan, and the Light Rail Transit Cavite Extension Phase 2. The Cavite-Batangas Expressway, the Central Luzon Link Expressway, the Bataan-Cavite Bridge, and the rehabilitation of the Ninoy Aquino International Airport are also in the pipeline.
“Proximity to infrastructure is a normal amenity these days, and developers can command premium prices and rents for properties situated near infra projects,” Mr. Bondoc said.
Aboitiz InfraCapital, the infrastructure arm of the Aboitiz Group, includes LIMA Estate in Batangas, TARI Estate in Tarlac, West Cebu Estate in Cebu, and the Mactan Economic Zone Processing 2 in Lapu-Lapu City in its roster of economic estates.
The firm said the estates are designed as “industrial-anchored townships” strategically linked to essential infrastructure like major highways, airports, and seaports, ensuring efficient supply chains and strong connectivity.
Source: Businessworld
