Max­i­miz­ing op­por­tu­ni­ties in the ‘Bay’

Philippine Daily Inquirer - - PROPERTY - By AmyR. Remo @amyre­moINQ

All roads now seem to lead to emerg­ing dis­tricts that of­fer busi­nesses a huge po­ten­tial for fur­ther growth. For many in­vestors, there is that con­scious ef­fort to look into new growth ar­eas out­side the more estab­lished, pre­mier busi­ness dis­tricts, where space has be­come in­creas­ingly lim­ited and rents, more ex­pen­sive.

And if cer­tain in­di­ca­tors are ac­cu­rate, it seems that the Bay City—the recla­ma­tion area west of Roxas Boule­vard and is split be­tween the cities of Manila and Pasay on the north and Parañaque on the south—is en­joy­ing a fair share of in­vestors and home­buy­ers this early.

In terms of of­fice space for in­stance, va­cancy in the Bay area stood at only 1.8 per­cent as of end March this year de­spite the com­ple­tion of new of­fice build­ings in 2017. This, ac­cord­ing to Col­liers In­ter­na­tional Philip­pines, can be at­trib­uted to a strong take up of of­fice space.

For this year alone, it is ex­pected that com­pleted projects in the Bay area will make avail­able some 273,000 sqm in leasable of­fice space.

De­spite this ad­di­tional sup­ply, Col­liers still ex­pects the Bay area to post one of the fastest growths in terms of of­fice space rents, as de­mand from off­shore gam­ing and knowl­edge process out­sourc­ing firms puts up­ward pres­sure on prices. In the first quar­ter of the year, rents in the area were es­ti­mated to range from P675 to as high as P1,200 per sqm per month.

Sim­i­larly on the res­i­den­tial front, the Bay City showed the big­gest de­cline in va­cancy to 15 per­cent in the first quar­ter of the year, from a high of 19.1 per­cent in the pre­vi­ous quar­ter.

“We at­tribute this to the strong de­mand from the grow­ing Chinese com­mu­nity which con­cen­trated in Manila Bay area and por­tions of Makati CBD,” Col­liers said.

“Manila Bay Area and Fort Boni­fa­cio would be of in­ter­est as sup­ply for the year will come from these two ma­jor sub­mar­kets, rep­re­sent­ing 31 per­cent and 52 per­cent, re­spec­tively, of up­com­ing sup­ply for the re­main­der of 2018. The shift­ing trend in va­cancy in these lo­ca­tions would be in­dica­tive of real de­mand. The de­cline in Manila Bay area va­cancy sup­ports the re­ported strong de­mand from Chinese na­tion­als who are work­ing for off­shore gam­bling com­pa­nies,” it ex­plained.

Add to that the fact that the Bay City is near the En­ter­tain­ment City, home to ma­jor gam­ing es­tab­lish­ments So­laire, City of Dreams and Okada, which can also be a source of pri­mary and sec­ondary de­mand for res­i­den­tial space, whether per­ma­nent or short-term.

On top of these num­bers, it would be hard to re­sist Manila’s charm, with its famed sun­set, his­toric wa­ter­front, the Manila Cathe­dral and the dis­tinc­tive cul­tural char­ac­ter of Ermita and Malate, two dis­tricts that con­tinue to draw crowds of for­eign tourists yearly.

The Bay City thus of­fers a highly at­trac­tive, po­ten­tially lu­cra­tive propo­si­tion for any in­vestor or home­buyer be­cause of its strate­gic location—be­ing the pre­mier gate­way for cross-over in­vest­ments across the metro—and the nu­mer­ous op­por­tu­ni­ties that one can tap, across real es­tate seg­ments.

To tap the grow­ing op­por­tu­ni­ties in Bay City, in­vestors and home­buy­ers may con­sider one of the many projects of up­scale de­vel­oper An­chor Land Hold­ings Inc. in the said area.

As a pi­o­neer res­i­den­tial de- veloper in the Bay City, An­chor Land of­fers the 16-storey Copeton Bay­suites, mas­ter­planned to be an ul­tra-lux­u­ri­ous project that will rise along Ma­ca­pa­gal Boule­vard and right be­side City of Dreams Manila, the heart of the gam­ing strip of Aseana.

From the ex­trav­a­gance that the name im­plies, the much-an­tic­i­pated en­clave that is Copeton Bay­suites will fea­ture three mag­nif­i­cent res­i­den­tial tow­ers and will be high­lighted with spe­cial fea­tures such as cur­tained walls and double glazed glass win­dow pan­els.

Copeton Bay­suites—named af­ter Copeton Mine, a pop­u­lar quarry where the hard­est and the most pre­cious di­a­monds can be har­vested—was de­signed to match the extravagant lifestyle of Bay City. Here, one can revel in an op­u­lent liv­ing space within a self­con­tained com­mu­nity where ev­ery need and lux­ury is well within reach—be it for busi­ness, re­tail or leisure.

In­deed, this lim­ited op­por­tu­nity to own part of the new­est real es­tate mas­ter­piece in the Bay City and to be part of an ex­clu­sive com­mu­nity of up­scale and high pro­file per­son­al­i­ties re­sid­ing within the multi-bil­lion dol­lar En­ter­tain­ment City, is sim­ply too good to pass up.

Copeton Bay­suites, an ul­tra lux­u­ri­ous res­i­den­tial project from An­chor Land, will rise in the bustling Bay area, in be­tween key de­vel­op­ments like City of Dreams and the planned Ayala Mall.

Copeton Bay­suites was de­signed to match the extravagant lifestyle of the Bay City.

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