The rise of townships and mixed-use communities will continue to be at the forefront of real estate development in the Philippines.
With the continued rise of integrated townships or mixed-use property development projects across the archipelago, the country’s real estate landscape is changing and heading toward a sustainable future. This paradigm shift among property developers has been spurred by the growing demand for property seekers who are looking for comfort and convenience when it comes to sustainable living.
Several factors can be attributed to this changing preferences among many of today’s property seekers, which is mainly anchored on having an environment-friendly lifestyle without sacrificing comfort and convenience. In cosmopolitan urban areas like Metro Manila and Cebu, the daily struggle of getting out of the traffic rut has forced many to seek solace in communities where access to and from work, as well as to leisure and entertainment establishments, is assured.
As advances in mobile technology make working at home—or any place where there’s wi-fi access—as ubiquitous as getting a caffeine fix in a neighborhood coffee shop, property developers continue to zero in on creating livable communities that offer not just an easy access to those who prefer to do their work in the comforts of their own home but an ecosystem where residents and tenants can enhance their experience of actually balancing work and leisure.
The rise of mixed-use communities in provincial cities
An array of township projects and mixed-use communities are expected to arise over the next few years not just in Metro Manila and other cosmopolitan urban hubs such as Cebu and Davao but in other key provincial cities as well such as Iloilo and Clark. Policy-makers and urban planners see these as a pivotal solution in addressing the growing problem of urban congestion.
Take the case, for instance, of Ayala Land’s Nuvali in Sta Rosa, Laguna. The company continues to transform the 2,290-hectare area into an integrated township by offering not just residential enclaves but inviting several businesses to set up their operations in Nuvali, including leading educational institutions and retail establishments. Other property developers such as Unilab’s Greenfield Development Corporation and Vista Land have also made their forays in the area.
As Metro Manila’s urban population becomes increasingly crowded, Sta. Rosa’s carefully planned residential development projects have become a welcome respite for metropolitan dwellers who are longing for a suburban haven without sacrificing the comforts of city living. It has become a beacon of residential and commercial development south of Metro Manila that is anchored on sustainable living.
Countryside development
Sta Rosa’s success is likewise being replicated by other property developers who continue to develop mixed-use communities in other key provincial cities. More and more local government units are offering incentives to property developers in the hope of attracting residents to remain there and entice businesses to set up shops in their areas. In cities where townships have been established, the economic environment becomes more dynamic as employment opportunities are generated. This also helps halt the migration of residents in these provincial cities to Metro Manila who is seeking better economic opportunities.
Although the majority of these township projects are located in the National Capital Region, particularly those that are near Metro Manila such as Pampanga, Laguna, Batangas, Cavite, and Bataan, there are several mixed-use communities that are being built in places outside mainland Luzon. For many property developers, building townships outside Metro Manila have become a more sustainable way to roll out real estate projects. These projects have also somewhat become their answer to the government’s call to further countryside development.
Metro Manila remains the epicenter of townships and mixed-use communities
Metro Manila, however, is expected to remain as the epicenter of townships and innovative mixed-use communities over the next few years. More and more property development projects across the metro are being built by some of the country’s leading real estate companies, especially those in Taguig, Quezon City, and Pasig.
Ortigas & Company, one of the foremost property development firms in the country, plans to redevelop its prime properties in Pasig as an extension of the Ortigas Central Business District. Its 16-hectare Frontera Verde property is expected to become a mixed-use community that will have both residential and commercial establishments in it as well as a multi-modal transport hub that would have entry and exit points on Ortigas Avenue, Julia Vargas Avenue, and C5. The redevelopment is expected to be carried out over a 15 to 20-year period in three phases, according to company officials.
In Bonifacio Global City in Taguig, where a ton of mixed-used vertical communities has sprouted, expect a few more to rise over the next few years. The Gokongwei-owned Robinson’s Land Corporation, the property arm of JG Summit, Inc., has partnered with upscale developer Shang Properties, Inc. for a property development project in Taguig’s premier urban hub. Officials from both companies have disclosed plans to develop a 9,118 square meter property at McKinley Parkway that would include residential units and retail shops.
Although Ayala Land has a formidable presence in Bonifacio Global City, it plans to create a new BGC in Taguig with its Arca South project, a 74-hectare area located on the South Luzon Expressway at the Food Terminal, Inc. property. The 80-billion peso project, which, according to company officials, will be marketed as a cheaper alternative to Bonifacio Global City, will have both residential and commercial components, as well as several leisure and lifestyle hubs and a transport terminal.
In an interview with reporters last year, Ayala Land Premier managing director Joseph Carmichael Jugo said that “unlike BGC where some of the components of developing the city came first, such as residential buildings, before being followed by malls and commercial developments, here we are taking all of our learnings and having all of our key anchors coming together at around the same time.”
At the forefront of Philippine real estate sector
Many of today’s leading property developers continue to offer innovative township projects or mixed-use communities in the hope of attracting property seekers who yearn for accessibility to the workplace, educational and health institutions, as well as leisure establishments and retail shops in a single location. By offering property seekers all these and anticipating what they might need to enjoy a work-life balance and enhancing their experience, townships and mixed-use communities are at the forefront of the country’s real estate sector and will continue to keep the property development industry afloat.
Source: Rappler
