Quezon City, Manila Bay area tagged as next central business districts
Interaksyon by Krista Angela M. Montealegre, 11-26-2014
MANILA - A congested Metro Manila has pushed developers to
venture outside the Philippine capital, giving rise to new business
districts and special economic zones.
In a briefing today, KMC MAG Group vice president Yves Luethi
said property developers are building business parks in provinces
outside Metro Manila as such as Cavite, Laguna and Batangas, as
well as in areas outside of Luzon -- from Cebu to as far as Davao,
Cagayan de Oro and Zamboanga.
An affiliate of Savills, KMC MAG is a real estate services
Within Metro Manila, developers are exploring Quezon City and
the Manila Bay area as potential central business districts that
could spread out job opportunities, foot traffic and even
investments, Luethi added.
"If the Philippines can bring the growth in Manila to other
areas within the country and support that with infrastructure, then
we see no reason why it wouldn't fulfill its promise of being the
next Asian miracle," said KMC MAG managing director Michael
The Philippines has become one of the fastest growing economies
in Asia. However, experts warned that the economy may be at risk of
overheating if the government fails to address infrastructure
Luethi said Quezon City is showing a lot of promise given its
size, the presence of national government agencies, educational
institutions, and major broadcasting networks as well as an
extensive road railway network. Ayala Land Inc is building a
mixed-use project around its Trinoma mall in Quezon City.
Anchored on the government's Entertainment City, the Manila Bay
area may be another potential business district. The D.M. Wenceslao
Group is putting up such an area named Aseana City between the
gaming hub of state-run Philippine Amusement and Gaming Corp
(Pagcor) and the SM Mall of Asia.
"Previous investments by the government and the private sector
have shown that these areas can grow into central business
districts. For both Quezon City and Bay City, it will be critical
to provide more public transport options and ensure that social
services are in place for these two areas to fully develop,"
He noted that spatial planning will be critical to ensuring that
new business districts will not suffer from congestion.
"The new business districts will need to move away from building
because the demand is there or because the workforce is there, and
instead move toward managing the diverse spatial needs of various
stakeholders. This may be more difficult, but other cities in Asia
have done it and they have a wealth of experience that the
Philippines can learn from," McCullough said.
In this regard, the government should invest in infrastructure
to improve the transportation network in these urban areas and
integrate the different networks around the country, he said.
"The only thing the Philippines needs is the political will to
make these large-scale changes possible," he added.