A study by Leechiu Property Consultants (LPC) revealed that most Metro Manila business districts will be fully developed by 2018.
Consequently, masterplanned communities like Aseana City—which still has open spaces—will become even more attractive to other investors wanting to ride on the country’s wave of robust economic growth.
LPC added that in terms of office space alone, the supply within the Manila Bay is expected to even double by 2021.
In the meantime, more structures are being completed in Aseana City. Recently inaugurated was the Aseana Square, a two-storey food hub and commercial complex meant to serve the 240,000 vehicles that pass through the emerging business district, which also hosts three entertainment complexes namely City of Dreams, Solaire Resorts and Okada Manila.
In the next three years, three more Aseana City projects namely the 14-storey Aseana 3 office building; the 120-unit Pixel Residences; and St. John Paul II Church are seen to be completed.
These are expected to attract more visitors, locators and residents to the area, said Delfin Wenceslao, managing director of Aseana Holdings.
Other developers and business owners have also seen the potential and have invested in this masterplanned community, which will soon be the gateway to Cavite’s populous residential areas with the completion of the LRT 1 Cavite extension in 2021.
These include Ayala Land, which is putting up the nine-hectare Ayala Aseana mall and Thailand’s Erawan Group, which is completing a Hop Inn hotel at Aseana City.
Both announced that their respective projects would be completed by 2018.
Wenceslao added that retailers on the lookout for strategic locations have also realized the potential of Aseana City. Aseana Square, which has 25 units of retail and commercial spaces, was leased out within months.
“We expect to see a spike within the next few years in the number of people who come to Aseana City,” Wenceslao said.
“We anticipate to see more people wanting to live near where they work. In fact, we built Pixel Residences in anticipation of this demand and were affirmed by its warm market reception. When the Ayala mall opens, Aseana City will become a place to live-work-play or a self-contained area primed for exponential growth,” he added.
