7 Metro Manila areas offer next wave of property development

MANILA, Philippines - Aside from the Makati business district and Bonifacio Global City, Metro Manila will be heading into 2016 with seven more investment-worthy areas to further beef up the country’s real estate sector, local portal MyProperty.ph said.

In its latest report, MyProperty identified seven neighborhoods in Metro Manila which are just as promising in terms of offering real estate opportunities as the Makati business district and BGC.

These are Alabang in Muntinlupa, Bay City in Pasay, BF Homes in Parañaque, Kapitolyo in Pasig, New Manila in Quezon City, Poblacion in Makati and Sikatuna Village in Quezon City.

The property portal said Alabang is an ideal place for young professionals being close to offices located at Madrigal Business Park and Filinvest City, while up-and-coming townships such as Alabang West and South Park District would establish the area as a legitimate real estate hotspot.

Bay City is also expected to remain busy next year with SM Mall of Asia and continuous development of the Entertainment City which houses the City of Dreams Manila, Solaire Resort and Casino, and two more integrated resorts to open until 2018.

BF Homes and Sikatuna Village, meanwhile, had grown from being a largely residential area to thriving gastronomic hubs with different restaurants lined up along Aguirre Ave. and Maginhawa St., respectively.

Another investment-worthy area in Quezon City is New Manila which is perfect for families for its proximity to schools such as St. Joseph’s College, St. Paul University, and Xavier School, and shopping centers like Robinsons Magnolia and Greenhills Shopping Center.

The proximity of Kapitolyo to Ortigas Center, meanwhile, makes the area a magnet for both young professionals and starter families, MyProperty said.

After the Makati Business District, the property portal said Poblacion is the city’s most significant neighborhood, housing several commercial centers, various businesses, and government offices.

“The Philippine economy’s continued rise is apparent in the real estate front, notably as evidenced by the condo projects, commercial centers, and office buildings that are being built one after the other in the Metro Manila area,” MyProperty said.

“While the business center of Makati and the Bonifacio Global City will constantly remain hot commodities for both investors and end-users, there are a few areas within the metro that are looking just as promising,” it added.

MyProperty early last year was acquired by global property portal Lamudi, making the latter the biggest online property portal in the Philippines to date.