Motorists are not the only ones patiently waiting for the completion of the four-kilometer Muntinlupa-Cavite Expressway, formerly called Daanghari-South Luzon Expressway of Ayala Corp.
Property developers, with planned projects in the southern part of Metro Manila, are also waiting for the toll road, the country’s first public-private partnership project, to be completed, before launching their real estate developments.
Vista Land Lifescapes Inc. of former senator Manuel Villar said it had moved the launching of several residential projects within the mixed-use development Vista City in Daanghari to the third quarter of 2015, because it wanted the toll road project to be operational before starting to sell the housing units.
Vista Land is setting the stage for three huge developments across various residential brands in Vista City this year. The property developer believes it will be able to get better sales take-up, in the form of reservation sales, once the MCX toll road is operational.
Filinvest Land Inc. of the Gotianun family is also preparing to launch a 20-hectare residential development in Daanghari in the second half of the year, which could generate as much as P2.5 billion in sales.
Based on Ayala Corp.’s latest presentation during a recent analysts briefing, the conglomerate said it was still keeping the June 2015 completion date for the toll road project. However, commercial operation may start by the third quarter of the year.