I really should pay more attention to current events in Philippine real estate developments.
In a yahoogroup I belong to as a broker, a co-broker was looking for 100-150 hectares of land in San Jose Del Monte, Bulacan. I found an 85-hectare vacant lot worth more than 200 million in a listing of bank foreclosed properties, but upon confirmation with the bank officer, I learned that the sale was near closing already.
I thought to myself, “Sayang!”(“What a missed opportunity!”) and at the same time, I wondered if something was cooking in the area…
Then, in a recent meeting we had with a client, we learned that there were rumors that San Miguel Corporation will be building its own airport somewhere in Bulacan. “Aha!” I thought, and so I did some sleuthing.
Of course many of you may have known this a long time ago, but for a southern belle like me whose interest is not that piqued by developments in the north, this was very interesting. Consider the following:
- A ManilaStandardToday.com article reported that real estate speculations have been sparked by the airport relocation plans of Mr. Ramon S. Ang, the head of San Miguel.
- A PhilStar.com article reported that the Department of Finance (DOF) and San Miguel Holdings Corp., the proponent of the MRT Line 7 are discussing ways to enhance the $1.2 billion project.
The MRT 7 project was approved a long time ago, but has been delayed. I tried to access the website of the original proponent of the MRT 7, Universal LRT Corp. (ulc.com.ph) but it is gone, even in Google’s cache. A past article from gmanetwork.com shows the proposed MRT 7 route map. The said stations match those reported in a photo on DMCI’s website, except for Station 14 which the gmanetwork article called Araneta station which dmcinet called San Jose.
Since ulc.com.ph does not exist anymore, I had only Wikipedia (which cited ulc.com.ph when it was still online) to rely on regarding the locations of the stations of the MRT Line 7 (Manila Red Line). Based on the said website, the proposed MRT 7 stations are as follows:
- North Avenue MRT Station – The station will be located at Barangay Santo Cristo (Bago Bantay) in Quezon City, which is near the corner of Epifanio de los Santos Avenue (EDSA) and North Avenue. The station will be directly connected to SM City North EDSA close to Quezon City Science Center, TriNoma, Quezon City Science High School, Grass Residences, Eurotel North Edsa Hotel and Radio Veritas studio. It will be the first trans-modular station in the Philippines that will connect with LRT-1, MRT-3, MRT-7 and MRT-9. (Source)
- Quezon Memorial MRT Station – The station will be located within the Quezon Memorial Circle (QMC) Elliptical Road, Philcoa Compound, Diliman, Quezon City. The station is designed to be tunnel to connect with the SB Underpass that connects the Philcoa Compound to the QMC Park. Closest landmarks include the QMC, Ninoy Aquino Parks and Wildlife, Department of Agriculture Building, Quezon City Hall,Department of Agrarian Reform Building, the National Housing Authority and People’s Television Network Complex. (Source)
- University Avenue MRT Station – The station will be located within Commonwealth Avenue, U.P. Village, Diliman, Quezon City. The station is proximate to the University Avenue, the main thoroughfare to the University of the Philippines Diliman campus. Nearest landmarks include the University of the Philippines Diliman, U.P.–Ayala Land TechnoHub, Philippine Coconut Authority (PhilCoa), and the Commission on Human Rights Complex. (Source)
- Tandang Sora MRT Station – The station will be located within Commonwealth Avenue, Tandang Sora, Quezon City. The station is near the Luzon Avenue C-5 Flyover (under construction) and the Tandang Sora-Commonwealth Avenue Flyover (currently under rehabilitation and redesign). Nearest landmarks include the Iglesia Ni Cristo Central Temple, New Era University and Net 25 TV studios. (Source)
- Don Antonio MRT Station – The station will be located within Commonwealth Avenue, Commonwealth, Quezon City. Closest landmarks include the Ever Gotesco Commonwealthshopping mall and Shopwise Commonwealth. (Source)
- Batasan MRT Station – The station will be located within Commonwealth Avenue, Batasan Hills, Quezon City. Closest landmarks include the Sandiganbayan Court, House of Representatives at the Batasang Pambansa Complex, Commission on Audit Building and the Department of Social Welfare and Development Complex. (Source)
- Manggahan MRT Station – The station will be located within Commonwealth Avenue, Commonwealth, Quezon City. Closest landmarks include the Commonwealth and Litex Public Market and the Commonwealth Elementary and High School. (Source)
- Doña Carmen MRT Station – The station will be located within Commonwealth Avenue, Fairview, Quezon City. The station is near Doña Carmen Subdivision. (Source)
- Regalado Highway MRT Station – The station will be located within Commonwealth Avenue, Fairview, Quezon City. Closest landmarks include Fairview Center Mall, National College of Business and Arts and Far Eastern University-NRMF. (Source)
- Mindanao Avenue MRT Station – The station will be located within Mindanao Avenue, Fairview, Quezon City. This elevated station will connect to SM City Fairview. (Source)
- Quirino MRT Station – The station will be located within Quirino Highway, Novaliches, Quezon City. After the Mindanao Avenue MRT Station in SM City Fairview, the rail link will turn right to Quirino Highway. (Source)
- Sacred Heart MRT Station – The station will be located at Sacred Heart Village, Greater Lagro, Quezon City. Closest landmarks include the Sacred Heart Parish of the Diocese of Novaliches. (Source)
- Tala MRT Station – The station will be located at Tala, Caloocan City. Closest landmarks include the Iglesia Ni Cristo temple. (Source)
- Araneta MRT Station – The station would be the first MRT station outside Metro Manila, being located in City of San Jose del Monte in Bulacan. The station would be located near the area of what is known as the site of the Colinas Verdes a premiere subdivision in San Jose del Monte, Bulacan. The area formally known as Ciudad Real is split between Tungkong Mangga & San Manuel. (Source)
I believe that it is still possible for the exact locations of the MRT 7 stations to change (which is probably why they erased the website ulc.com.ph where the proposed stations were shown). The general location, however, will probably stay the same since the project has already been approved and they are only fine-tuning the details. The clincher, I believe, will be the location of the new airport in bulacan.
I noticed that there are a lot of listings of foreclosed properties in the above areas (I know what you’re thinking!). Of course, buying a property should not be based purely on speculation of a future price increase. It is still wise and prudent to buy at a price lower than the current market value, and the potential for increase in market value is just a plus factor. What do you think?
To our success and financial freedom!
Cherry Vi M. Saldua-Castillo
Real Estate Broker, Lawyer, and CPA
PRC Real Estate Broker License No. 3187
PRC CPA License No. 0102054
Roll of Attorneys No. 55239
Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2012 All rights reserved.
Photo credit: Wikipedia
Full disclosure: Nothing to disclose.