COMMERCIAL and residential developments drive up the value of land that makes areas within and around central business districts (CBDs) a viable source of passive income for investors.
In Mandaluyong City, thriving city centers continue to drive rising land values, including Greenfield Development Corporations’ 15-hectare Greenfield District, a mixed-used development bordered by EDSA, Shaw Boulevard, Sheridan Street and Reliance Street. Property analyst Colliers Philippines saw land value in the CBD increased 8 percent annually since 2012. That year, land value in the area ranged from P100,000 to P168,000. This year, the land value ranges from P146,000 to as high as P246,000 in the first quarter alone.
The trend is expected to continue as demand for office, residential and retail spaces remain high. And rising land values in Mandaluyong will continue to affect the developments within the city especially with Greenfield’s own development spree for Greenfield District.
Greenfield’s eco-friendly masterplan for Greenfield District fills up wide, open green spaces with high-tech residences and offices, food strips and leisure hubs to create an innovative environment offering a fully connected lifestyle. The mini-city is also unique for its fiber optic infrastructure that enables high-speed connectivity throughout the development.
Greenfield District’s vertical communities Twin Oaks Place and Zitan are the first residential condominiums built with the same technology, with Twin Oaks Place allowing home automation in units.
Through a smart phone or tablet, homeowners can remotely adjust security settings, lighting, room temperature, among other features and appliances in their units. Twin Oaks Place recently topped off its East Tower.
The 35-storey Zitan, meanwhile, is a transit-oriented residence because of its direct access to the MRT Shaw Boulevard station. The first three floors of the mixed-use tower are allotted for shops and services for added convenience to homeowners.
The mini-city also recently topped off Greenfield Tower, its first business process outsourcing (BPO) office building located along Mayflower Street. With the same built-in fiber optic system, high-speed connectivity gives locators the competitive edge in BPO operations. The building also boasts of competitive lease rates particularly for technology companies requiring fast Internet connection.
A residential condominium in Greenfield District is a potential source of steady income given the growing demand for accommodation for expatriate employees in outsourcing and offshoring firms and BPO companies, and for other professionals who need a halfway house in Mandaluyong. With the rising land value resulting to increasing rent, return on investment is quite fast.
With the higher property prices and land values in other CBDs of Metro Manila, Greenfield District presents an exciting proposition for homebuyers, BPO businesses and other locators. Its innovative design and fiber optic infrastructure truly add value to any property investment in the Mandaluyong CBD.
