More property dev'ts eyed near big gov't infra projs

MANILA, Philippines - More property developments are locating close to big government projects such as the Light Rail Transit Line (LRT) Line 1 extension to Cavite, MRT-7 project and Daang Hari-South Luzon Expressway (SLEx) link.

Julius Guevara, associate director for advisory services at Colliers International, said in a press conference yesterday that property developers are looking closely at government infrastructure projects being implemented.

“The LRT and MRT projects are something we are really looking at, the LRT (Line 1) extension to Cavite and MRT-7 going to Quezon City up to a part of Bulacan. Developers recognize this and are currently positioning themselves around these infrastructure developments,” he said.

He said the Daang Hari-SLEx link, the first project to be rolled out under the government’s public-private partnership (PPP) program, is also seen to be driving more property development activity in that area.

“We are seeing more projects like this will help the property market in general,” he said further.

The P60-billion LRT Line 1 extension project will involve increasing the existing 20-kilometer (km) railway to 32.4 kms.

Through the project, the LRT Line 1 which runs from Roosevelt station in Quezon City until the Baclaran station in Pasay City, will be extended until Niyog in Bacoor in Cavite.

Outgoing Transport secretary Manuel Roxas II said earlier that the Department of Transportation and Communications is set to conduct a feasibility and engineering study on the plan to extend the LRT Line 1 further to Dasmariñas in Cavite.

The deadline for the submission of qualification documents for the project has been moved to Sept. 28 from an original schedule of Aug. 22.

The MRT-7 project meanwhile, involves the construction of a 22-kilometer train line with 14 stations which will extend from San Jose del Monte in Bulacan to the corner of North Avenue and Epifanio de los Santos Avenue (EDSA) in Quezon City.

The MRT-7 project also includes a 22-kilometer, six-lane highway to Bulacan.

Earlier, a joint venture between Marubeni Corp. of Japan and DM Consunji Inc., Marubeni-DMCI consortium signed with Universal LRT Corp. Limited a contract for the construction of the Metro Rail Transit System and Intermodal Transportation Terminal of the MRT-7 Project.

The Daang Hari-SLEx link was awarded to Ayala Corp. in December last year.

The 30-year contract will involve development and operation of a new four-kilometer four-lane toll road that will link the southern Cavite province to the SLEx.

Colliers International is engaged in providing real estate services focusing on property marketing, sales and leasing brokerage, real estate management, investment advisory, corporate solutions, valuation and consultancy or research services.