Bulacan could be a future property hot spot according to one leading consultancy. Colliers International Philippines believes that the completion of two major infrastructure projects will make the region more attractive to both end users and investors. This would cause real estate values to increase.
Colliers International Philippines Senior Director and Head of Valuation Services, Paul Vincent Ramirez, explained that these types of infrastructure projects have the ability to quickly transform areas, such as Bulacan. He also expects developers to be more aggressive and strategic in how they build landbanks in the province.
“Major government infrastructure projects, especially in sparsely developed areas, have the potential to really unlock property values,” Ramirez told BusinessWorld. “Once these projects are completed, these infrastructure corridors are ripe for transit-oriented developments, but as early as now, developers are already starting to position themselves in these areas, which has been observed to have already caused an uptick in land prices.”
Related: Infrastructure supports property market recovery in suburban Manila
Projects making Bulacan a future property hot spot
The two major infrastructure projects that could make Bulacan a future property hot spot are the MRT7 Line and the New Manila International Airport. Both are expected to be completed in the coming years.
According to Ramirez, the public transit line should boost Bulacan’s attractiveness as a residential investment destination. It will reduce commute times between the province and Quezon City to just 35 minutes. At the moment, travel between the two takes at least 120 minutes.
Meanwhile, New Manila International Airport will help decongest the perpetually overcapacity Ninoy Aquino International Airport (NAIA). The facility is slated to open in 2025 with a capacity of 35 million passengers per year. However, this could increase to 100 million passengers in the future.
Watch: Will NAIA Close And How Much Is This Land Worth?