CEBU CITY – The major developments at the South Road Properties (SRP) district in Cebu City are projected to drive property values in nearby areas particularly the neighboring city of Talisay and to generate employment in Metro Cebu, where economic activity is picking up.
This positive projection was made by Ramero Espina, vice president for sales and marketing of Cebu-based developer Primary Homes, as he sees the big-ticket projects, that have provided many jobs, particularly in construction to the locals, in what is seen to be Cebu’s next biggest business district driving real estate values here moving forward.
In an interview on Thursday, Espina said they are banking on the development of SRP, where various big projects are being undertaken including a resort casino, malls, commercial buildings, arena, and a convention center, among others. SRP is also where Cebu’s soon-to-completed third bridge is located.
The country’s major developers owned by the Gokongwei, Sy, Ayala, and Gotianun families have invested in the SRP district as they see its huge economic potential in the future, especially as soon as the local economy fully reopens.
“The developments in SRP will really change the landscape of Cebu City,” Espina said.
This potential is also a boon to local developers, he said, as it makes their projects appreciate in value, which also benefits property investors.
The company’s Almond Drive project, a walk-up condo development in Talisay City near the SRP district which started in 2019, is seeing a growing interest from young professionals here who are looking for good property investment.
He noted that most property buyers now are looking for a progressive and investment-worthy location that gives them access to essential establishments.
“It (the project) is built on a 1.5-hectare property very close to the South Road Properties, Cebu’s next biggest business district where billions worth of investments in retail, real estate, and tourism continue to pour in,” Espina said.
He said they are banking on providing the much desirable condominium home option in this high-growth area of Metro Cebu.
According to realtor Colliers International Philippines, investors looking to purchase residential properties should consider projects close to Cebu’s major infrastructure developments, including the Cebu-Cordova Link Expressway, which is scheduled for completion in 2022. (PNA)