Immeasurable benefits of infra

CAPITALIZING ON INFRASTRUCTURE

Infrastructure is crucial. And in innumerable ways, it can have a lasting, far-reaching impact on the health of economies, the progress of societies, advancement of industries and reduction of poverty.

In the Philippines, infrastructure is said to have the biggest multiplier effect on the economy as it improves connectivity and trade, unlocks land values, creates quality jobs and business opportunities, and induces investment and consumption. In the midst of a prolonged pandemic, infrastructure is also seen as a vital dimension to the country’s recovery from this crisis.

Its significance is not lost on Philippine property developers, many of whom have long tracked and anticipated such developments, as these have historically triggered increases in land values and property prices.

One example is the MRT3. A 2019 study by the Asian Development Bank showed that the “growth in value of land parcels within one km of MRT-3 stations is higher than for parcels more than 2 km away from a station; residential parcel value grew by $154 per sqm more and commercial parcel value grew by $545 per sqm more in near-MRT-3 areas compared to farther-out comparator parcels… Conservative estimates of total value uplift attributable to public investment in MRT-3 is close to $3.4 billion.”

And given the ongoing P8 trillion Build, Build, Build initiative, all the more are developers keeping close watch, in the hopes of capturing the opportunities and gains from these projects.

Some of the country’s top property developers recently shared with Inquirer Property why they think infrastructure remains a crucial gamechanger for their industry. Here are their insights.

Anna Ma. Margarita B. Dy, SVP and group head of Ayala Land Estates explained that their projects—from the largest estates to the pocket urban developments—have always been strategically positioned to capitalize on infrastructure, a growing local economy and connectivity to other nearby centers.

Doing so would enable residents, locators and businesses in Ayala Land estates to significantly benefit from these infrastructure projects which allow for better accessibility and connectivity.

Dy cited Alviera in Pampanga as an example as this estate is a direct beneficiary of Subic-Clark-Tarlac Expressway (SCTEx), Tarlac-Pangasinan-La Union Expressway (TPLEx), Clark Airport and the upcoming North-South Railway Project and the Subic-Clark Railway Project.

“Cresendo was our response to the burgeoning economy in Tarlac with its own exit from SCTEx. Vermosa is a stone’s throw away from the more established Ayala Alabang and with multiple linkages from Manila-Cavite Expressway (MCX), Cavite-Laguna Expressway (Calax) and the Daang Hari Aguinaldo Flyover,” Dy explained.

“Nuvali has benefitted from various infrastructure projects over the past 14 years—the latest of which is Calax. To make the access from Calax seamless, we are building a flyover right after the Laguna Blvd. Interchange, that will bring you straight to Nuvali Blvd. In Arca South, there will ultimately be ramps from the Southeast Metro Manila Expressway that interconnects with the Skyway and which will make Arca South highly accessible,” she added.