Property services firm bats for development outside Metro Manila
GMA News.tv by Danessa Rivera, 11-26-2014
Decentralizing business districts outside Metro Manila and
supporting it with necessary infrastructure will propel not only
the Philippines' property sector but also drive the whole economy
in general, officials of real estate services firm KMC MAG Group
Decongesting Metro Manila and building the necessary
infrastructure are the key issues for the Philippines to sustain
growth momentum, KMC MAG Group capital markets and investments head
Jose Carmelo Porciuncula said in a briefing in Makati City.
Business investments need to be redistributed not only in
sprouting central business ditricts (CBDs) Metro Manila but also in
provinces, he noted.
"Developing new CBDs doesn't necessarily decongest but it
helps not to add more traffic in Metro Manila," Porciuncula
Among areas with potential are Quezon City and Bay City -- the
reclaimed area near Roxas Boulevard on Manila Bay, the real estate
services firm said in its third quarter report.
Quezon City has the size, presence of government and
educational institutions, and extensive road and railway
Meanwhile, Bay City houses the four major casinos in the
entertainment city, various business parks and commercial
While there are new CBDs, there has to be some development
happening outside the capital, KMC MAG Group vice president Yves
Luethi said in the same briefing.
"We see new upcoming CBDs like QC, Bay area...but there are
alternative areas like Laguna, Bulacan, Nueva Ecija... that will
help also in decongestion of Metro Manila," he said.
In May 2013, the Department of Science and Technology and
Information Technology and Business Process Association of the
Philippines (IBPAP) named 10 more next wave cities for BPO
including Baguio City, Davao City, Dumaguete City, Iloilo City,
Lipa City, Metro Bulacan, Metro Cavite, Metro Laguna, Metro Naga
and Metro Rizal.
In 2012, the list included Davao, Bacolod, Sta. Rosa City,
Iloilo City, Metro Cavite, Lipa City, Cagayan de Oro, Malolos City,
Baguio City and Dumaguete City.
But in order to attract developers and businesses to move
outside Metro Manila, the officials of the real estate services
firm noted that the development of infrastructure is critical to
support this move.
"In terms of infrastructure, the government is trying. It's
not that easy. It's not that it's lacking, but definitely there is
more that we can do," Porciuncula said.
Meanwhile, Luethi said the development of necessary
infrastructure all boils down to political will.
"Infrastructure projects have been proposed. These could save
us a lot of travelling cost. The money is actually ready...with
good credit ratings [attained by the Philippines," he added.