Many Filipinos started to explore better real estate options outside urban Metro Manila.
In the midst of a global pandemic, our country continues to be bold in carrying out infrastructure investments all over the country.
According to Public Works Secretary Mark Villar, at any given time, there are about 18,000 ongoing projects across the country geared towards “inclusive development.” The task at hand sounds daunting and ambitious, and as of now, it is difficult to imagine what these infra investments can mean for an ordinary Filipino.
For many Filipinos currently living in congested Metro Manila, the new roads and highways commonly mean better, faster and more convenient accessibility to areas outside this urban jungle. The anticipation is that the bustling Metro Manila economy will expand its reach to more Filipinos.
Ovialand was one of the first movers in San Pablo, Laguna.
Thriving locations
But what many overlook is that there are already many local thriving and robust economies outside Metro Manila that are enjoying their own aggressive growth—growth that was ignited by population, heroic overseas Filipino worker (OFW) remittances, local and foreign businesses, all made more dynamic by the connectivity of the internet.
Take for example, the City of San Pablo, Laguna.
Located 88 kilometers south of Metro Manila, it has made itself known as “The City of Seven Lakes.” This city, nestled between the regions of Quezon and Batangas, has been quietly enjoying economic and development growth since it has been made more accessible via Star Tollway. San Pablo is now only 75 minutes away from Metro Manila, making it mutually accessible for both people going into and coming from San Pablo, making trade, commerce, healthcare, education and other life components reciprocally viable.
As real estate developers in San Pablo, we have witnessed this remarkable potential come into fruition during the pandemic.
Exploring property options
Many Filipinos started to explore better real estate options outside urban Metro Manila. Moving out of the congested and expensive capital region opened up many possibilities. Apart from getting better value from their real estate investment, many of our clients who moved out of the metro are now experiencing more advantages—lower cost of living, access to more affordable goods and services, less congested schools, less time on the road and traffic, and more time for family, loved ones and one’s self.
Quality homes outside urban metro continue to attract buyers.
Rapid growth
While this out-migration from Manila is already happening in nearby regions that have existing connectivity, one can only imagine how energized and how rapid the growth will be once more regions complete their infrastructure projects. Bigger local economies will now be connected digitally and physically, providing more and better opportunities for more Filipinos.
The World Bank estimates that for every 1 percent of GDP equivalent invested in infrastructure, a corresponding 1 percentincrease in GDP level is to be expected.
But for me, the real value and success of these infrastructure investments lie in the improvement of the quality of life the citizens.
I am looking forward to contributing to this ambitious goal and hope that in our generation, we will witness the undeniable progress in the Philippines, for the Filipinos.
The author is the president of Ovialand Inc., a developer of affordable horizontal projects in South Luzon