A CATALYST FOR GROWTH

Gilbert Berba, head of urban planning and design at Federal Land, believes that infrastructure plays a crucial role in any real estate development as it is the underlying foundation or basic framework for any development.

“This system of public works serves as a catalyst and defines where urban growth will happen. As a developer, the presence or absence of infrastructure greatly affects the primeness and readiness of any site for planning. In addition, the amount of infrastructure available in any area ripe for development also affects the financials of a project,” Berba said.

Admittedly, the available infrastructure can make or break a project. Berba explained that it determines how a development will grow and prosper over time. Access to roads, power, water and public services, after all, are key ingredients to building a successful community.

“The level of degree in infrastructure greatly influences the type of real estate products and community that will develop in an area. The more you have them, the more people will come; traffic will increase and sales will rise. And when all of this happens, the demand for the real estate product increases resulting in rising sales and value appreciation,” he said.

For now, amid the pandemic, massive inoculation and the presence of a strong healthcare system are crucial for the economy to improve. Managing the spread of the virus is also key to bring consumer confidence back on track.

“In real estate, introduction of new and innovative products that will address basic health concerns (physical and mental) and allow people to live, work and play will encourage people to invest in properties and development that will make them adapt quicker to the ‘new normal.’ Most of all, good and reliable government support will help companies like us grow,” Berba said.