A leading property consulting and marketing firm recently urged established developers in the country to pursue the development of mixed–use real estate developments in urban centers outside of Metro Manila to fast-track economic activities as this would result in growth centers being established nationwide.
Colliers International said the growth potentials of urban centers outside of mega-Manila could be tapped and expedited with the development of satellite communities in their respective localities.
A mixed-use type of development that would offer a combination of work and leisure such as those developments in the Central Business Districts of Makati, Ortigas and Fort Bonifacio’s Global City can be duplicated, though in a smaller scale, in cities and provinces, particularly in the fringe areas of Metro Manila.
Colliers also added that aside from creating business and employment opportunities, the development of satellite communities will help decongest Metro Manila as there would be no need for the people in the provinces to flock to the big city just to be able to experience such world-class leisure and shopping amenities amidst their places of work.
The work and play setting should also be present in the urban centers of provinces. Development of master-planned communities includes building offices, residential communities and even condominiums, shopping centers, schools and hospitals within one area can also be integrated to create a complete community setting.
Colliers cited the successes of once-upon-a-time idle areas in Metro Manila that turned into a bustling business and leisure haven such as Eastwood City, a former site of a textile mills; Century City is the former site of International School; Manila and Capitol Commons is a redevelopment of the former capitol of Rizal Province and the Circuit in Makati, which used to play host to horse-racing enthusiast, being a former horse race track venue.
Colliers believed the current administration’s thrust to spread economic opportunities outside Metro Manila and intensify infrastructure development should provide impetus for developers to be more aggressive in pursuing mixed-use projects outside of the country’s capital.
