EDSA Greenways Set for Completion By November 2024

The completion of the P8.79-billion EDSA Greenways project is set for completion by November 2024, according to the Department of Transportation (DOTr).

As reported by BusinessWorld, the elevated walkway along Epifanio de los Santos Avenue (EDSA) was initially scheduled to be completed in December 2022, but because the Metropolitan Manila Development Authority (MMDA) now only allows a night schedule for utility relocation, it will be pushed back by almost two years. 

The EDSA Greenways project involves constructing elevated walkways located at four mass transit stations, specifically the Cubao station of Metro Rail Transit Line 3 (MRT-3), Balintawak station of Light Rail Transit (LRT) Line 1, Taft station of LRT-1 and MRT-3, and Guadalupe station of MRT-3.

DOTr said it expects the walkway at Guadalupe station to partially open by February 2023, and the Cubao station to open in July of the same year.

Seamless accessibility for commuters and pedestrians

The EDSA Greenways project aims to provide seamless accessibility between public transportation hubs in four key areas along EDSA for pedestrians and commuters.

It’s intended to build and repair almost 5-km of covered and elevated walkways that connect to four MRT and LRT stations. The structures will feature 5-meter wide walkable lanes with elevators and security monitoring systems. 

In an article by Inquirer, the Asian Development Bank (ADB) said that the walkways would be disaster-resistant and well-lit. They would also be easily accessible to pedestrians, particularly pregnant women, children, the elderly, and the disabled. 

ADB approved a P5.9-billion loan for the development late last year. It’s also expected to be partly financed by P720 million in borrowings from the Asean Catalytic Green Finance Facility, which will be administered by ADB.

Shuji Kimura, the ADB senior transport specialist for Southeast Asia, told Philippine Star that this project complements other ADB-financed projects in the Philippines that serve to encourage citizens to use public transportation.

Other projects funded by the agency that serve this purpose include the Metro Manila Subway, the North-South Commuter Railway, and improved Metro Rail Transit and Light Rail Transit systems.

Kimura added that all these projects will help decongest Metro Manila traffic while also simultaneously providing safe and equitable access to commuters and lowering CO2 emissions. The agency believes that the construction of these projects will aid in the economic recovery of Metro Manila from the pandemic as these projects will create much-needed jobs. 

The push for transit-oriented communities

This project, together with the rest of DOTr and ADB’s efforts to upgrade transportation and mobility services in the country, is a necessary step towards decongesting Metro Manila and improving the quality of life of its millions of residents.

Based on Lamudi’s property forecast, the completion of these infrastructure projects will likely generate an interest in the respective cities they’re located in. Conversely, there may also be an increase in the supply of property in locations where infrastructure projects are planned as a way to meet the new demands of modern property seekers, based on data from Lamudi’s property forecast.

Lamudi’s findings reveal that fringe cities are experiencing a surge in popularity among buyers who are seeking homes that can accommodate their new normal needs and investors interested in properties with the potential for high returns.

Infrastructure projects tend to meet both of these requirements, as they provide convenience and accessibility for residents, as well as help unlock land values for those expecting to yield impressive gains in the future.

Cities like Makati, Quezon City, and Manila, which is where the EDSA Greenways project is being developed, are already among the most top-searched cities according to Lamudi’s Quarterly Outlook. These cities will likely experience an uptick in interest as a result of the completion of these infrastructure projects.

Due to worsening traffic conditions and the increasing cost of living, property seekers are in the market for affordable housing located near transport-oriented developments, which illustrates the growing demand for essential, safe, and dignified housing. Living near these communities has been shown to improve mental and physical health and encourage financial savings. 

Stay tuned for the latest real estate news by following Lamudi on Facebook, Twitter, Instagram, Youtube, and LinkedIn.

Source: BusinessWorld, Inquirer, Philippine Star

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