Mixed-use development optimizes land, fuels sustainable urbanization
THE Philippines is experiencing rapid urbanization, particularly in Metro Manila, leading to a surge in mixeduse developments. These projects combine residential, commercial and recreational spaces, providing a holistic solution to urban living.
Integrated communities
Projects such as Capitol Commons, Eton Centris in Quezon City, Nuvali in Laguna and Marina Town in Dumaguete exemplify successful mixed-use developments.
For over 85 years, Ortigas Land has been at the forefront of property development, crafting vibrant hubs that seamlessly blend work, leisure and life.
Capitol Commons, a 10-hectare mixed-use development located along Meralco Avenue corner Shaw Boulevard, Ortigas Center, Pasig exemplifies Ortigas Land’s commitment to excellence.
Formerly the Rizal Provincial Capitol, Capitol Commons is a testament to Ortigas and Co.’s dedication to innovation and community-building. Its masterful design seamlessly integrates modern living spaces, office facilities and commercial areas, adorned with elements of Filipino culture. More than just a development, Capitol Commons fosters a dynamic community experience, boasting premium retail and entertainment options.
Eton Centris, a popular lifestyle destination in Quezon City, offers dining, retail and entertainment options. Its strategic location at the corner of EDSA and Quezon Avenue allows easy access to Metro Rail Transit Line 3 and other transportation.
Centris Walk, a new cluster in Quezon City, has seen the opening of numerous shops and restaurants, fitness centers, spas, retail shops and a veterinary clinic. The dynamic market and fun activities have attracted families. More tenants are expected to join the complex, making it an essential part of the Quezon City lifestyle scene.
Nuvali, Laguna’s largest eco-city development, is built on sustainable design principles. Nuvali focuses on integrating residential, commercial and recreational spaces while preserving nature. It features residential communities, business spaces, shopping centers, prestigious schools, nature amenities and a 150room hotel.
Nuvali’s green urban district features an events center, two schools, recreational attractions, a wildlife and bird sanctuary, and commercial shopping centers.
Nuvali is part of Ayala Land Inc.’s vision to enhance land and enrich Filipinos’ lives. It spans Santa Rosa, Cabuyao and Calamba, unlocking the potential for existing and future communities in the Southern Luzon corridor.
Marina Town, a Filinvest Land Inc. mixed-use development in Dumaguete City, is a 1.9-hectare integrated metropolitan destination that combines modern living with rustic simplicity. Situated along Rizal Boulevard, it is close to modern conveniences such as leisure hubs and educational and government institutions, aiming to redefine the landscape of this progressive city.
Mixed-use property development in the Philippines is thriving, driven by urbanization and the need for sustainable urban solutions.
Revitalizing Pasig River
Efforts to revitalize urban waterfronts such as the Pasig River Urban Development Plan aim to transform neglected areas into vibrant hubs, inspired by successful global projects.
Led by the Department of Human Settlements and Urban Development (DHSUD), the InterAgency Council for the Pasig River Urban Development (IAC-PRUD) ensures the full rehabilitation of the riverbanks to provide alternative transportation and boost economic opportunities.
This plan — funded through private donations — aims to realize the Pasig River’s potential for mixed-use development, recreation, tourism and sustainable human settlement.
DHSUD Secretary Jose Rizalino Acuzar emphasizes the project’s goal to elevate the Pasig River to the level of renowned waterways such as the River Thames in London, Chao Phraya in Bangkok and Seine River in Paris.
Notable among these waterways — aside from being popular tourist attractions — are the commercial and mixed-use developments that surround it.
“That’s what we want to see around the Pasig River. We want not only to bring back its old glory and restore its place in history, but to also breathe new life into it by bringing new and functional development around it,” says Acuzar, who’s also the chairman of the IAC-PRUD.
“It is more than just a beautification project. We intend to implement functional development along the Pasig River that will promote tourism and transportation connectivity for the benefit of ordinary Filipinos,” Acuzar says.
By fostering innovation and responsible urban planning, the Philippines can achieve a sustainable and equitable future.
Affordable housing initiatives
Government agencies and private institutions collaborate to address the housing shortage in the Philippines. Projects such as the Himamaylan Socialized Housing Project provide affordable housing solutions for Filipino families, bridging the gap between demand and supply.
National Home Mortgage Finance Corp. (NHMFC) President Renato Tobias and Himamaylan City Mayor Rogelio Raymund Tongson Jr. explore collaboration opportunities for the Himamaylan Socialized Housing Project, situated in Poblacion, Barangay 3, Himamaylan City, Negros Occidental. The project aims to develop 500 duplex-type housing units for government employees.
Meanwhile, NHMFC’s securitization bond issuance mobilizes private capital to support housing initiatives, aligning with the government’s goal of providing decent and affordable shelter for all Filipinos.
NHMFC links the private capital market and the housing sector with its sixth securitization bond issuance called NHMFC Bonds 2023 that’s worth P533 million.
DHSUD Secretary Acuzar praises NHMFC’s efforts, highlighting its role in the Pambansang Pabahay Para sa Pilipino Program. The issuance, backed by quality, affordable housing loan receivables, offers investors a 5-year mortgagebacked security with a stable rating of PRS A+.
NHMFC’s securitization bonds such as NHMFC Bonds 2023 play a vital role in making housing finance more accessible.
“I couldn’t be any prouder of NHMFC’s accomplishments under the leadership of President Renato Tobias. The corporation has remained true to its mandate of increasing the availability of affordable housing loans to Filipino homebuyers,“says the Housing chief.
NHMFC partners with the Land Bank of the Philippines’ Investment Banking Group together with the Development Bank of the Philippines’ Trust Banking Group as the special purpose trust administrator; Philippine National Bank Trust Banking Group as the trustee, registrar and paying agent; MOSVELDTT Law Offices as the transaction counsel and tax advisor; Philippine Rating Services Corp. and Moore Roxas Cruz Tagle and Co.
The success of NHMFC Bonds 2023 signals a promising future for affordable housing initiatives, driving positive change and progress across the nation.
Through collaboration and innovation, the country can build a brighter future, creating livable, inclusive communities for all.