THE Duterte administration’s decentralization thrust anchored on the implementation of major public infrastructure projects should entice developers to aggressively pursue integrated communities outside of Metro Manila, said a property management and research firm.
In a report yesterday, Colliers International Philippines said the construction of railways and roads in key areas outside the country’s capital will unlock values for properties that could be developed into mixed-use communities.
“Provinces that are viable locations for township developments include La Union, Pangasinan, Tarlac, Batangas, Naga, Iloilo, Bacolod, Cebu, Davao, and Cagayan de Oro,” the report reads.
The government said it plans to roll out more than P3.6 trillion in public infrastructure projects from 2018 to 2020. In Cebu, some of the anticipated infrastructure projects are the Cebu-Cordova bridge, Metro Cebu Expressway Cebu Bus Rapid Transit, and the proposed Cebu light rail.
Colliers also noted that the government’s failure to adequately address socio-economic issues such as worsening traffic, flooding, and poor mass transportation systems has compelled private firms to take the lead in transforming idle properties into master-planned communities that integrate the live-work-play lifestyle.
“Private developers are bridging infrastructure gaps and unlocking opportunities by building satellite communities that have the potential to become major catchment areas for business activities in the country’s capital,” it noted.
With a growing number of developers going into this direction, Colliers advised the industry players to distinguish their projects from others.
Apart from the typical land uses such as office, residential, retail, and hotel, Colliers said developers should also incorporate institutional uses such as education and healthcare.
Others, however, have also differentiated themselves from the rest by integrating entertainment and recreational facilities within their township developments.
Further, the growth of townships over the next years will be driven by the millennial workforce. While millennials only account for 40 percent of the country’s labor force, Colliers said millenials and the next generation will comprise about 70 percent of the Philippine workforce by 2030. JOG