Aseana City is seen surpassing Ortigas among central business districts with the highest land value this year.
Real estate consultancy firm Colliers International said in a report the land value at Aseana is forecast to rise 9.2 per cent to P249,800 per square meter this year from P228,800 per sq. m. last year, or a 24-percent increase from 2009.
Makati still had the highest land value last year at P560,500 per sq. m., followed by Fort Bonifacio at P499,500 per sq. m. Ortigas was third with P233,700 per sq. m.
But projections for the current year show Aseana overtaking Ortigas, where land value is estimated to rise to P248,800 per sq. m. this year.
Makati will remain on top in terms of land value, projected at P575,000 per sq. m. by year’s end, while that of Fort Bonifacio is esimated at P533,500 per sq m.
“The higher land value of Aseana compared to Ortigas... can be attributed to the area’s proximity to Makati, the presence of integrated casinos and the upcoming developments,” Colliers said in its report.
The 107.5-hectare Aseana, in Paranaque, is less than seven kilometers from Makati.