As the Philippine economy continues to grow due to increased government spending, the influx of foreign direct investments, and the sustained rise in remittances, more Filipinos are looking for opportunities to invest. And many have turned to real estate.
While established business locations in Metro Manila such as Makati City, Bonifacio Global City in Taguig, and Ortigas in Pasig have been lucrative options for real estate, they’ve simply become too expensive for many. These cities have also become too congested prompting would-be homeowners to look elsewhere. Thus, investors need to look towards other locations in Metro Manila and take advantage of their imminent growth; Northern Quezon City is one of them.
Why Northern QC?
As the largest and most populous city in the Metropolitan Manila, Quezon City presents many opportunities for investment. Northern QC, in particular, with its continued developments, strategic location, and transportation hubs suits investors looking for long-term growth options.
New infrastructure developments are already underway that will increase the number of roads, as well as provide new leisure and entertainment options for citizens of Northern QC.
One of the biggest malls in Novaliches, for example, is set to undergo an expansion adding 1.5 million square feet of retail, entertainment, living, and business space.
New access roads are also underway such as the NLEX Harbor Link Segment 8.2, a 7.85-km, four-lane expressway that will link C-5 Road and Commonwealth Avenue to the North Luzon Expressway (NLEX). Meanwhile, the Metro Manila Skyway Stage 3 will connect the South Luzon Expressway (SLEX) to NLEX from Buendia, Makati City to Balintawak, Quezon City.
It’ll also be easier to get around Metro Manila with the creation of several large transportation projects that will pass through Northern QC. The MRT-7 is expected to be completed in 2020 and will have stations in Novaliches, Mindanao Avenue, and Quirino Highway. Meanwhile, the Metro Manila Subway will have seven out of its 15 stations located in Quezon City beginning at Mindanao Avenue-Quirino Highway and ending at the Ninoy Aquino International Airport in Pasay City.
And to connect all these, the Unified Grand Central Station will link LRT-1, MRT-3, and MRT-7 by 2022, serving 1.2 million people a day. It’ll be built at the intersection of EDSA and North Avenue. Additionally, the Metro Manila Subway will also be nearby.
In business, Quezon City remains to be as competitive as other central business districts. According to the local government, the number of registered businesses in the city has increased from 2008-2013 totaling 64,515. And of that number, 21% (13,417) are new enterprises and 79% (51,098) are renewals. This hasn’t only led to more jobs, but also increased the spending power of its citizens.
In addition, in 2015, the city was named the Information and Communication Technology (ICT) capital of the Philippines because of its push to promote the city as a hub for contact centers and business process outsourcing sectors.
For business owners, the city also has shorter transaction periods for the processing and approval of permits needed for construction.
For investors searching for the next successful location, now is the best time to look towards Northern QC. Visit avidaland.com for more information on Avida Towers Astrea — the practical choice for people who want to invest in an Ayala Land property in Northern QC.