Two weeks ago, my colleague and I attended Day 1 of the Maynila Urban Design Fest at Maginhawa Street in Quezon City. The fest’s goal, as explained by the organizers, is not only generate interest and discussion about the current state of Metro Manila, but to inspire and change the people’s mindset about what city life should really be.
Despite the growing concerns about the current urban layout of Metro Manila, we, along with the other attendees, cannot help but feel positive about the city’s many transformations and how the real estate is influencing these changes.
So how has real estate really improved Metro Manila? Here are six ways how:
1. Real estate has brought home near your workplace.
The Obvious
The rise of condominiums and mixed-use developments in Metro Manila has provided Pinoy millennials a home to call to away from their homes in the provinces.
What it really means for you
Business districts, in a way, has somewhat reduced the “brain drain” in the Philippines. Because central business districts (CBDs) attract a variety of companies, locals who are educated and experienced in specific set of skills (e.g. call center workers, data and financial analysts, web developers, graphic designers), do not feel the need to go and work abroad. So, yes, there’s a job for almost everyone out there.
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2. Real estate has made “modern convenience” a standard.
The Obvious
Townships are built to provide homebuyers an accessible lifestyle one cannot experience when living in a probinsya. These developments, often viewed as micro-cities by real estate developers, have everything at a reach to support the lifestyle of its residents.
What it really means for you
Because everything is at your disposal, townships actually influence people to be smarter, more confident in spending their day. For an urban dweller, planning the day or your week will now include a schedule to enjoy the finer things in life the city has to offer by himself or herself, the family, the barkada, or even the community.
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3. Real estate invests in opportunities that improve urban mobility.
The Obvious
With real estate developers helping to fund more railway projects, subway and water transport systems, and airport maintenance and expansion, both private and public commuters will expect improved mobility not only across cities in Metro Manila, but across regions from Central Luzon to CALABARZON.
What it really means for you
According to a 2013 Scientific American article on the benefits of traffic jams, alternative transport, in the long run, can ease overpopulation in Manila. As more real estate developments are done outside Metro Manila (e.g. Laguna, Pampanga and Batangas) in tandem with the building of alternative transport, some people will now find themselves having alternative places to work and shop without needing to leave their permanent addresses.
4. Real estate promotes clean and sustainable living.
The Obvious
The increase of green infrastructure in urban cities has increased in the last few years not only because they look pretty, but because they can mitigate the effects of pollution, and for some, turn these effects into opportunities. Discovery Primea, for example, was designed to withstand powerful forces of nature, like typhoons. Arya Residences‘ LEED and BERDE certification ensures its residents that their condo units are of Mother Nature-approved.
What it really means for you
You can expect a cleaner environment thanks to the revitalizing efforts of the local real estate industry. Karima Palafox of Palafox Associates recounted how they were tapped to transform Rockwell Center, which was the former home of an old nuclear plant with high, toxic levels of pollution, into a green, mixed-use development that houses One Rockwell, The Rockwell Club, Powerplant Mall, and the upcoming luxurious condominium The Proscenium. Palafox said that through both government, private and public support, Metro Manila can expect rehabilitation of the Pasig River and Laguna de Bay in the years to come.
5. Real estate encourages people to explore outside their own backyard.
The Obvious
We encountered this large family of six at a restaurant during a break from the fest. Lolo Rey immediately strike up a conversation with us, and shared that his family is on a food trip, and has been doing this “thing” for quite a while.
Attractive real estate developments, notably in Laguna, Taguig and Quezon City, has prompted local families of all sizes, like Lolo Rey’s, to experience the life in neighboring cities. Anyone can now make a cross-city trip and experience having dirty ice cream sandwich and isaw in UP Diliman, watch an outdoor movie in Bonifacio High Street, to riding a ferry in Nuvali Sta. Rosa in a day.
What it really means for you
The more varied experiences real estate can provide to people, the more globally competitive Metro Manila is in terms of urban tourism. And if there are more tourists visiting the country, the city earns money that could go towards improvement or introduction of more public services, like a subway network to service Metro Rail Transit (MRT) and Light Railway Transit (LRT) links.
6. Real estate elevates the Pinoy’s way of life.
The Obvious
Real estate has proven itself again and again as a major contributor in improving communities. Bonifacio Global City, for one, is Metro Manila’s poster child in community improvement. Once a military base, it has been transformed as one of Pinoy’s coveted neighborhoods because of its desirable environment, world-class institutions and its distinct cosmopolitan character. BGC has also taught me a couple of things: to respect space and to enjoy the finer things in life after work. I learn to pay attention and follow traffic signs and house rules, and look forward to a weekend spending time with my daughter at one BGC’s public parks.
What it really means for you
Is it really accessible? What are the people like in the neighborhood? Is the neighborhood clean and orderly? Do I need to install extra security in my home?
What first-time homebuyers and real estate investors do not realize is that the very questions they ask during the research stage of the homebuying process are the exact components of what defines “quality of life” in a neighborhood. As such, real estate has not just raised your standards in buying your home, but raise your standards on how you want to live. In effect, these standards compel you to make smart, confident decisions.
Still not convinced? Go ahead and search for a home in Taguig and see what we mean.
