MANILA, Philippines - It seems that despite the Philippines’ slightly weaker-than-expected economic performance in 2015, the country’s largest property developers are bullish about the real estate market, as many of them are expected to either launch or complete township projects in 2016 and beyond. Many of these developers are also earmarking
record-breaking capital expenditures to finance these projects.
Many of these townships, which are mixed-use real estate projects comprising residential, commercial, and leisure segments, are touted to become either the next Bonifacio Global City, Makati CBD, or Ortigas Center. Online property portal Lamudi Philippines takes a closer look at some of these big-ticket projects we can expect to hear more from in 2016.
1. Alviera, Porac, Pampanga |
| Photo courtesy of Ayala Land |
Alviera is a 1,100-hectare large-scale, mixed-use development in Porac, Pampanga, which is perhaps one of Ayala Land’s most ambitious projects to date. In fact, the company has earmarked Php90 billion for the project, significantly more than the company is planning to invest in its Arca South project in Taguig. The project’s Phase 1 development—which includes industrial park, a country club, three residential communities, and two academic institutions spread over 207 hectares of land—is already well underway.
2. Clark Green City, Angeles City, Pampanga |
| Photo Courtesy of Clark Green City Facebook page |
Filinvest Land bagged the contract to develop 288 hectares of prime land in the Clark Green City, a project master-planned by the Bases Conversion and Development Authority (BCDA). The BCDA has already teamed up with the Home Development Mutual Fund (Pag-IBIG Fund) to build 2,000 affordable mixed-income housing units for the future employees working in the Clark Green City. Additionally, in August, the BCDA and the University of the Philippines signed an agreement to establish UP Clark Green City Campus in a 70-hectare area.
3. Arca South, Taguig
A master-planned development in the former FTI Complex in Taguig, 74-hectare Arca South is one of Ayala Land’s most ambitious projects. Strategically located along East Service Road of the South Luzon Expressway (and a separate elevated highway will be constructed via the C5 Road), upon completion it will boast residential, retail, commercial, office, and institutional developments. Ayala subsidiaries Premier and ALveo have already launched their own residential condo projects within Arca South: the upscale Arbor Lanes and Veranda, respectively.
4. Bay City, ParaƱaque and Pasay
Although reclamation projects within the Pasay–ParaƱaque area of Manila Bay started in the 1990s, the area remained largely undeveloped until SM Prime opened the Mall of Asia in 2006. Since then construction cranes have been a common sight in the Bay City. In fact, aside from Solaire Resort and Casino and the City of Dreams Manila, two more billion-dollar integrated resorts are expected to open in the Bay City’s Paranaque side, in addition to multi-tower condos from SMDC, Federal Land, and Anchor Land Holdings, another large mall this time by the Ayala group, and multiple office towers. Colliers International Philippines expects the Bay City to soon transform into a fully developed business and leisure district, providing a viable alternative to the Makati and Fort Bonifacio CBDs.
5. South Park District, Muntinlupa |
| Photo courtesy of Ayala Land Inc. |
South Park District, a 6.6-hectare residential-commercial project, will be the first township to be developed by Avida Land, ALI’s affordable-market developer. Soon to rise on the former site of NestlĆ© factory along National Road in Alabang, this Php12 billion project upon completion will integrate residential, retail, and office spaces, but with a more laid-back feel. Avida Land has already launched its first residential condo project in South Park District—the two-tower Avida Towers Altura, while six more projects are expected to be launched over the next few years.
6. Vertis North, Quezon City |
| Photo courtesy of Ayala Land Inc. |
Twenty-nine hectare Vertis North is expected to become Quezon City’s first business district. Bounded by EDSA, North Avenue, and Mindanao Avenue, it is expected to boost the city’s economic development, and its developer, Ayala Land, has already announced that it is investing Php65 billion into this project. When completed, Vertis North will have approximately 45 towers and buildings composed of offices, shopping malls, hotel, and residential condominiums (two of which have already been launched: High Park by Alveo Land and Avida Towers Vita). A 438-room Seda Hotel is also currently under construction.
7. Circuit Makati, Makati |
| Photo courtesy of Ayala Land Inc. |
Touted to become Makati’s entertainment hub, 21-hectare Circuit Makati sits on the former Santa Ana Racetrack along the southern banks of Pasig River. This project will be anchored by Ayala subsidiary Alveo Land, who will build approximately 11,000 residential condo units here, in addition to office, retail, and entertainment components. Alveo has already begun construction of its first condo project, the two-tower Solstice, and its first office tower here, Stiles Enterprise Plaza.
8. Veritown Fort |
| Photo courtesy of Federal Land |
Sitting on the northwestern portion of Bonifacio Global City, Veritown Fort is the first mixed-use project of Federal Land. This 10-hectare estate will house the Philippines’ second Hyatt property: Grand Hyatt Manila and Grand Hyatt Manila Residences. Other high-end condo projects (Park West, Central Park West, and Madison Park West) will soon rise here, in addition to office buildings for BPO firms, and plenty of greeneries. The 66-story Grand Hyatt Manila is expected to open in late 2015.
9. Uptown Bonifacio |
| Photo courtesy of Megaworld Corp. |
In keeping with Megaworld’s other successful township projects, the 15.4-hectare Uptown Bonifacio in north BGC will eventually house upscale condo towers, BPO offices, lifestyle malls, and more. Its first condo project—the high-end Uptown Ritz—scheduled to be finished in 2017, while the entire township, when completed will have close to 500,000 sqm of residential space, 400,000 sqm of office space, and 90,000 sqm of retail and restaurant space.
10. Woodside City, Pasig
Soon to rise in the former Ajinomoto plant along C5 Road in Pasig, Woodside City is dubbed as the Philippines first “green” township project. Its main features is the approximately 1,000 trees to be planted around the development. In addition, LEED-certified office towers will be constructed, two of which were designed by renowned architects Skidmore, Owings, and Merril. Its developer Megaworld is earmarking Php35 billion in the next 10 years to develop this township, and when completed will boast tree-lined roads, residential condos, a lifestyle mall, commercial strips, open parks, and a transport hub.
11. Bridgetown Business Park
Situated on a prime property along C5 Road in Libis, Quezon City, Robinsons Land’s Bridgetown Business Park is an 8-hectare mixed-use project. The first structures to be built within the township will be Tera Tower and Giga Tower, two office high-rises intended for BPO companies.
12. Capitol Commons, Pasig
Capitol Commons is currently one of Metro Manila’s “it” addresses, thanks to its lifestyle- and leisure-focused concept. It boasts high-grade offices, an upscale mall, and three residential condo towers (one of which is touted as one of Metro Manila’s most luxurious). Developed by Ortigas & Company, this 10-hectare mixed-use township will devote 50 percent of its land to green, open spaces, which will provide an alternative residential and leisure destination in Metro Manila.
13. Vista City, Muntinlupa, Las PiƱas, Bacoor, and San Pedro
Touted as Vista Land’s most expansive commercial business district project to date, Vista City the flagship project of Manny Villar’s real estate firm will be spending Php50 billion for the next five years. Vista City is an integrated urban development that will combine lifestyle retail concepts, prime office space, a 100-hectare university town, themed residential developments and leisure components. The 1,500-hectare community covers portions of Muntinlupa, Las PiƱas, Bacoor in Cavite, and San Pedro in Laguna. Currently, 500 hectares of Vista City were already developed as residential communities under Vista Land’s major brands, providing homes to 45,000 residents. Also part of the township are eight business process outsourcing (BPO) buildings that will comprise the Vista Hub, an entire district dedicated to business and commerce along Daang Hari South.
14. Southwoods City, Carmona and BiƱan
Dubbed as the first and largest fully integrated township with a golf course to rise South of Manila, Southwoods will be revitalized as a fast emerging district for business and leisure located in the boundaries of Cavite and Laguna. Utilizing its Php10 billion budget, Southwoods City is envisioned to offer a globally competitive business district equipped with state-of-the-art facilities and a retail component called Southwoods Mall. The mall will feature a supermarket, digital cinemas and a unique mix of dining choices and family-oriented activities and specialty shops. Advanced medical facilities, a dedicated transport hub, top schools and other basic necessities are also being planned for the community.
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