TAPPING EMERGING GROWTH HUBS

Similarly, Tomas P. Lorenzo, CEO of Torre Lorenzo Development Corp. (TLDC), believes that infrastructure is crucial in the long-term growth of any real estate development.

“A location that’s well-connected by major roads, bridges, airports, seaports and railways, will always be attractive to investors and will always have stronger longer-term prospects for increase in value. In TLDC, we saw the benefit in looking at emerging growth hubs outside of Metro Manila that already possess the right infrastructure that’s conducive for further development,” Lorenzo explained.

He cited Davao as an example as it has its own international airport and is at the heart of Mindanao’s road and sea networks. Lipa in Batangas is meanwhile connected by SLEx and STAR Tollway and is easily accessible from anywhere in the region.

“Infrastructure development does contribute to long-term real estate value appreciation. The better connected an area is, the more attractive it becomes for investors and business owners. A well-located real estate development also tends to generate more interest, and eventually sales, because of their accessibility and convenience to customers’ needs,” he added.

For now, Lorenzo believes that the when alert levels further go down in line with a decline in the number of cases, this will inject more confidence into investors as well as the spending public, which should positively impact growth.

“Ultimately, the longterm recovery plan that focuses on generating jobs and supports micro, small and medium enterprises, will be beneficial to real estate and the economy in general,” he added.