Ecotown continues to spark growth in the south
This project would not only embrace the residential, commercial, and institutional components that complete a self-sustaining town as it also has an industrial park.
In recent years, more property developers are finding their way to the provinces, bringing their signature brands and mix of residential, commercial, and retail spaces.
And this time, the focus veers away from the key cities and shifts instead to the locales previously untapped by businesses. Newer projects also strive to create masterplanned communities, townships or estates that can provide residents a more holistic lifestyle.
Townships outside MM
In fact, Colliers International Philippines noted in its top 10 predictions for 2018 that it expects more townships will be put up outside Metro Manila.
“Townships offer a better value proposition (live-workplay-shop-lifestyle) than standalone projects since they offer mixed-use developments,” Colliers said in its latest report.
“We see developers pursuing more township projects in areas outside of Metro Manila such as Cavite, Laguna, Bulacan, Pampanga, Cebu, and Davao over the near to medium term as land values are being unlocked by an aggressive expansion of road networks. To the south, we see Cavite benefiting from the implementation of rail and road expansion projects,” the report further stated.
But given the influx of projects in the provinces and the increasingly competitive environment, there is a need for developers to distinguish their projects from others, Colliers said.
Value proposition
This is exactly the kind of value proposition being offered by the Suntrust Ecotown, which sits on an expansive 350-hectare land in Tanza, Cavite.
The Suntrust Ecotown industrial park is Peza-accredited, which means locators can enjoy fiscal and non-fiscal perks.
This project is being developed by Suntrust Properties Inc., a wholly-owned subsidiary of real estate giant Megaworld Corp. It was created to cater to the country’s growing demand for decent low-cost housing.
This new Suntrust community would not only embrace the residential, commercial, and institutional components that complete a self-sustaining town.
The highlight of this eco-friendly project is the fact that it would be the company’s first mixed-use development with an industrial park, which is being positioned as a “major hub for world-class light to medium export-oriented industries, residential, commercial, and institutional establishments in the south.”
Data from Megaworld showed that 111 hectares would be allotted for the industrial park, while another 40 hectares would be for the expansion of the industrial park and the integration of lifestyle amenities such as a hotel, commercial and retail hubs, driving range, mini golf course, putting greens, swimming pool, jogging path, basketball and badminton courts, and open parks.
Suntrust is offering 107 lots for industrial use and 22 lots for
commercial purposes.
Another 200 hectares have been allotted for future development that may include residential and recreational facilities.
Industrial park offerings
The industrial park is also expected to house offices of the Philippine Economic Zone Authority and the Bureau of Customs to allow tenant-locators to fast-track their business permit requirements. The park would also have its own administration office, fire station, chapel, parking for container vans, guardhouse, and transport terminal.
As part of its eco-friendly orientation, Suntrust Ecotown is also focusing on the effective use of land, and sustainable use of renewable resources.
Notable too is the fact that the Suntrust Ecotown industrial park is Peza-accredited, which means that locators would benefit from variety of fiscal and non-fiscal perks such as tax holidays and exemptions, resident status for foreign investors and immediate family members, employment of foreign nationals, automated import and export permit system, among others.
Other features include its close proximity to major airports and seaports as well as business districts and its accessibility to main thoroughfares, thus making it a perfect location for foreign companies requiring mobility for their executives.
As part of its eco-friendly orientation, Suntrust Ecotown is also focusing on the effective use of land, sustainable use of renewable resources, and proper management of environment. It would have its own sewerage treatment plant and water tank pump station reservoir to maximize water usage.
