MANILA, Philippines - More property
developments are locating close to big government projects such as the Light
Rail Transit Line (LRT) Line 1 extension to Cavite, MRT-7 project and Daang
Hari-South Luzon Expressway (SLEx) link.
Julius Guevara, associate director for
advisory services at Colliers International, said in a press conference
yesterday that property developers are looking closely at government
infrastructure projects being implemented.
“The LRT and MRT projects are
something we are really looking at, the LRT (Line 1) extension to Cavite and
MRT-7 going to Quezon City up to a part of Bulacan. Developers recognize this
and are currently positioning themselves around these infrastructure developments,”
he said.
He said the Daang Hari-SLEx link, the
first project to be rolled out under the government’s public-private
partnership (PPP) program, is also seen to be driving more property development
activity in that area.
“We are seeing more projects like this
will help the property market in general,” he said further.
The P60-billion LRT Line 1 extension
project will involve increasing the existing 20-kilometer (km) railway to 32.4
kms.
Through the project, the LRT Line 1
which runs from Roosevelt station in Quezon City until the Baclaran station in
Pasay City, will be extended until Niyog in Bacoor in Cavite.
Outgoing Transport secretary Manuel
Roxas II said earlier that the Department of Transportation and Communications
is set to conduct a feasibility and engineering study on the plan to extend the
LRT Line 1 further to Dasmariñas in Cavite.
The deadline for the submission of
qualification documents for the project has been moved to Sept. 28 from an
original schedule of Aug. 22.
The MRT-7 project meanwhile, involves
the construction of a 22-kilometer train line with 14 stations which will
extend from San Jose del Monte in Bulacan to the corner of North Avenue and
Epifanio de los Santos Avenue (EDSA) in Quezon City.
The MRT-7 project also includes a
22-kilometer, six-lane highway to Bulacan.
Earlier, a joint venture between
Marubeni Corp. of Japan and DM Consunji Inc., Marubeni-DMCI consortium signed
with Universal LRT Corp. Limited a contract for the construction of the Metro
Rail Transit System and Intermodal Transportation Terminal of the MRT-7
Project.
The Daang Hari-SLEx link was awarded
to Ayala Corp. in December last year.
The 30-year contract will involve
development and operation of a new four-kilometer four-lane toll road that will
link the southern Cavite province to the SLEx.
Colliers International is engaged in
providing real estate services focusing on property marketing, sales and
leasing brokerage, real estate management, investment advisory, corporate
solutions, valuation and consultancy or research services.
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