Property in 2015
At the start of the third millennium, real estate developers had a change of heart. With an increased awareness of some of the negative effects that the construction industry has on the environment – whether in terms of procuring unsustainable raw materials, buildings homes that contribute to carbon footprint, or opening communities that may harm the ecosystem – there was a collective initiative to put environment sustainability on top of the agenda.
Aerial view of the 1,100-hectare township in Porac by Ayala Land called Alviera.
So at the start of this decade, property sellers were harping on the “green” aspects of their projects. Property buyers became familiar with LEED (Leadership in Energy and Environmental Design) certification and the local BERDE (Building for Ecologically Responsive Design Excellence) programs.
Megaworld’s Mactan Newtown
Having the seal of approval of these groups, a developer can boast that its development project has not harmed (or will never harm) the environment. In fact, a lot of them translated this benefit to sales, telling their prospective tenants that it will benefit them with lesser electricity and water usage.
But even though these green developments were celebrated or are fully occupied, they were not spared from the breakdown of the urban system happening around them. News headlines and social media were inundated with horror stories of four-to-five hour traffic along EDSA, of knee-deep flood in the slightest of rains, of the train system breaking down in the middle of rush hour, etc. Soon, developers realized that there is a need to expand beyond the confines of the metropolis.
Northern exposure
If there’s any year that this “expansion” to the provinces was heavily promoted, then it has to be 2015. Big established developers were highlighting in their portfolio projects done in Batangas, Laguna, or in the north such as Bulacan and Pampanga. The most robust development is perhaps rising in Pampanga since it has a large land base and an airport in Clark. This development is led by Ayala Land Corporation with Alviera, a 1,100-hectare township project in Porac, Pampanga.
SM Seaside Cebu is one of the biggest malls in the country.
This massive development – coupled with the expertise of an experienced developer – is making this project an exciting prospect among companies searching for the next “Makati” outside Metro Manila. For comparison, the Makati CBD is at 92 hectares while BGC is at 40 hectares.
Ayala Land’s dominance is starting to emerge in the north of the metropolis as it also has a 40-hectare mixed use project in San Jose del Monte, Bulacan. It is called Altaraza and it will have a direct access to the North Luzon Expressway and the yet-to-be-built MRT line. Suddenly, living and working outside Metro Manila becomes a viable option, isn’t it?
Fair share
But it is not only Luzon where the big developers are setting their sights on. Major cities of Visayas and Mindanao are having their fair share of projects that are touted to transform their cities into veritable locations for business and leisure. It is short of saying that Metro Manila now has no more monopoly of business transactions from all over the world.
Aerial view of Sta. Lucia’s massive Davao Riverfront Corporate City.
One of the most dynamic developers in the country, Megaworld Corp., is putting its trademark live-work-play-learn lifestyle in these burgeoning cities in the VisMin areas. In Visayas, the company is developing huge tracts of land in Cebu, Bacolod and Iloilo; while in Mindanao, it is beginning work on its Davao project.
Megaworld’s Mactan Newtown project is making waves as a holistic development integrating various aspects of living in one destination. It is also earmarking huge funds for its two township projects in the Bacolod area, one called Upper East, while the other is the 50-hectare Northhill. Meanwhile, its Iloilo Business Park project is the most exciting as it is also the largest township project of the developer at 72 hectares. There are now developments in the area and once it is completed, it can accommodate more than 10,000 workers.
If it is scale that we are talking about, then SM Seaside Cebu takes the cake as the biggest mall development in the region. Just like the massive SM Mall of Asia, this new mall which opened last November, is now a landmark among locals and tourists. When it completely opens its more than 400 stores this year, you don’t even have to drop by Metro Manila to buy what’s latest in fashion food and retail.
Bohol has a world-class resort in Henann’s project.
Cebu is blessed in terms of development with big developers such as Federal Land, Filinvest Land, Robinsons Land, and Vista Land lining up projects – from condominiums, mixed-used communities, hotels, and commercial buildings. Its neighbor, Bohol, is also gearing up for more developments but are more inclined towards attracting vacationers. One notable project is the Henann Resort in Panglao.
Not left behind
The Mindanao region is not left behind when it comes to massive developments that will transform the skyline and the way people live and work. Megaworld has its Davao Park District, touted as the city’s nucleus of business and employment. Another major developer, Sta. Lucia Land, has been confident about Davao’s growth that it has nine projects in the city. One of its landmark projects is the 60-hecare Davao Riverfront Corporate City which will have a business park and residential area.
Cagayan de Oro, another growth center in the region, also has a bevy of developments from big developers starting with Vista Land’s Loop condo and Avida’s Aspira Towers.
Now, with all these developments at hand, I once again ask the question: Living outside Metro Manila suddenly becomes an interesting option, isn’t it?