Filinvest City rides growth momentum in Metro South Published in Malaya Business Insight on September 15, 2017
Data from leading global real estate services company Colliers International show office capital and land values in Alabang has enjoyed a steady and respectable growth rate of 9 percent and 15.4 percent, respectfully over the past five years, driven by new vertical projects both in the residential and in the office space, among these Bristol at Parkway Place, Botanika Nature Residences, and the state-of the-art Parkway Corporate Center.
Data would also show office rental rates in Alabang presently stand at P650 to P700 per square meter, representing a compounded annual growth rate (CAGR) of 6.3 percent, as opposed to the CAGR of Makati which stands at 6.2 percent and for Fort Bonifacio at 5.8 percent.
This uptick has been attributed to improved accessibility to the area and even the Calabarzon region beyond, thanks to the completion of key infrastructure projects such as the Skyway, NAIA Expressway, and the MCX.
Other factors that make the South attractive to developers and investors is the clearer air and the less harried atmosphere, the presence of top educational institutions, and the adequate labor supply and growing retail base.
“Metro South has its own niche. Aside from being the preferred location of a number of BPO firms, Metro South is also a popular location for support industries in the Calabarzon region’s industrial hub,” said Joey Bondoc, research manager at Colliers.
Colliers also forecasts office lease rates in Alabang to rise between 4 percent and 5 percent in the next 12 months, with more locators – consisting mostly of BPO, knowledge process outsourcing and multinational companies – turning to the South to house their operations.
Filinvest City has firmly established itself as the premier CBD in the South, setting the pace amidst this robust real estate environment.
“The elements that comprise a well-planned township or CBD are anchored on placemaking and a multi-faceted approach to planning, design and management of public spaces’ Bondoc said. “Overall, placemaking should help transform places into destinations where people can synergistically converge.”
Filinvest City brings together a residential haven, a business central, a leisure destination, learning and education zones, and a medical and wellness hub – all part of a comprehensive future-ready masterplan.
Filinvest City’s infrasructure likeunderground utilities and wide sidewalks, lush landscaped parks and bike lanes make the environs fresher, greener and healthier.
Filinvest City has attracted such top local and multinational companies as Insular Life, Shell, Convergys, HSBC, and Deutsche Bank. Recently, it welcomed the Ascott Group of Singapore as it inaugurated Somerset Alabang, its newest upscale service residence in the country.
“In the past number of years, Filinvest City has remained relatively quiet compared to other CBDs with regards to our projects,” shares Catherine Ilagan, Filinvest Alabang Inc. executive vice president. “But in reality, we have been quite busy transforming Filinvest City to what it is today – dynamic, growing, and a true green city.”