More jobs are expected to be created in Cebu’s booming SRP zone.
The big improvements in Cebu City’s South Road Properties (SRP) zone are expected to boost property values in the surrounding area, particularly in Talisay, and create jobs in Metro Cebu, where economic activity is picking up.
Ramero Espina, vice president for sales and marketing of Cebu-based developer Primary Homes, made this optimistic prediction as he sees the big-ticket projects, which have created many jobs, particularly in construction, for locals, in what is viewed as Cebu’s next biggest business district, driving real estate values forward.
Espina said in an interview on Thursday that they are betting on the development of SRP, which is home to a resort casino, malls, commercial buildings, an arena, and a convention center, among other large projects. SRP is also home to Cebu’s third bridge, which is set to open soon.
The Gokongwei, Sy, Ayala, and Gotianun families, who own the country’s biggest developers, have invested in the SRP district because they see great economic potential in the future, especially if the local economy completely reopens.
“The projects in SRP will drastically alter Cebu City’s landscape,” Espina predicted.
According to him, this potential is also beneficial to local developers because it increases the value of their projects, which benefits property investors.
The company’s Almond Drive project, a walk-up condo development in Talisay City near the SRP district that began in 2019, is attracting an increasing number of young professionals searching for a suitable investment opportunity.
Most property purchasers these days are searching for a progressive and investment-worthy location with easy access to important establishments, he said.
“It (the project) is built on a 1.5-hectare land extremely adjacent to South Road Properties, Cebu’s next largest business sector, where billions in retail, real estate, and tourism investments continue to flood in,” Espina added.
In this high-growth area of Metro Cebu, he said, they are relying on giving the much-desired condominium housing choice.
Investors searching for residential properties can select projects near Cebu’s main infrastructure initiatives, such as the Cebu-Cordova Link Expressway, which is expected to be completed in 2022, according to realtor Colliers International Philippines.