go through Beatriz Marie D. Cruz, reporter
The recently approved Ecozone in Batangas, Bohall and Bacolod is expected to stimulate demand for retail development in offices, homes and surrounding areas, driving land appreciation and income growth, property consultants said.
Real estate company KMC Savills, Inc. “Announcement of the expansion of new IT (Information Technology) parks or existing parks will introduce new job markets into the region and encourage the emergence of complementary developments,” research manager Jamie Dela Cruz said in an email.
She said the increasing number of jobs in these eco-institutions will increase the demand for new residential, commercial and retail developments.
Leechiu Property Consultants research and consulting firm Jr. Roy Amando L. Golez, Jr. Roy Amando L. Golez, Jr. “As long as support services are provided, people will attract a place to work,” said an email.
Mr Golez added: “As the population increases, the surrounding land will naturally begin to develop, especially as incomes grow.”
The Philippine Economic Zone Authority (PEZA) said last week that President Ferdinand R.
Two of these ecology are expansions of the manufacturing area of Batangas, while the other two are Tabilaran City in Mishaya and the new IT Park in Bacolod City.
Ms Dela Cruz said ecological development could also attract foreign investors and new positioners due to improvements in the region’s procedures and incentives.
“They help attract BPO (business outsourcing) companies and foreign investment by providing incentives and streamlining the process. This is evident in the lease commitments seen in IT Parks, even if their PEZA registration is still in progress,” she noted.
“The ongoing demand of the IT-BPM sector in major provincial cities such as Bacolod and Bohol shows that office rents may remain stable and potentially increase.”
Goers said the government could also benefit from new ecological institutions through higher tax collections due to the increased land value.
Mr Golez pointed out that to meet the growing demand for land and space, local government departments must improve their land use zoning near these ecological institutions.
“This means it is necessary to create communities for commercial, logistics, residential, retail and some institutional facilities to ensure long-term organized growth,” he said. “Ultimately, this will increase the value of land and rents in the area.”
The Marcos government announced a total of 32 ecological institutions with an investment of approximately pesos 13.41 billion.
