Parañaque: Metro Manila’s Investment Giant on the Rise
November 16, 2020
Parañaque’s in it for the long term – its infrastructure, transportation, and real estate developments are setting it up as a major opportunity for forward-looking investors. By Tanya Mariano Parañaque has always been one of the low-key cities in the metro. If you don’t live there, you probably know it in passing, as you zip through the part of SLEX that skirts its eastern edge. But the past few decades have seen a gradual but steady transformation, with Parañaque slowly growing into a sprawling tapestry of residential districts, restaurants, markets and shopping malls, industrial areas, and everything in between. Today, it is a first-class, highly-urbanized city that over 665,000 people call home. With so many recent developments – including in transport infrastructure, real estate, and recreational spaces – it seems exciting days are ahead for this once sleepy municipality. Robust transport infrastructure Parañaque’s infrastructure underscores its central role in the capital region’s transportation network. Using the city’s highways and terminals, you can launch a trip to anywhere in Luzon – or anywhere with a direct flight connection, in fact! Terminal 1 of the Ninoy Aquino International Airport is located along the city’s border with Pasay. The Manila-Cavite Expressway (CAVITEX) links the city and the rest of Manila to the provinces of Cavite, Laguna, and Batangas. CAVITEX ensures a safer, more convenient trip to and from homes in Parañaque, by diverting traffic from South Super Highway’s service roads and providing faster access to Pasay, Makati, Manila and other areas north of the city. Towards the north end of CAVITEX is the Parañaque Integrated Terminal Exchange (PITX), a public transport hub opened in 2018 that serves passengers of jeepneys, buses, and other public vehicles. Passengers can ride from PITX to Metro Manila stops like Makati, Quiapo, Divisoria; and provincial destinations like Imus, Bacoor, Tagaytay and Calatagan. The ongoing LRT Line 1 South Extension Project will also extend the line’s reach from Baclaran in Parañaque all the way to Bacoor in Cavite, upon its completion at the end of 2021. Major CBDs such as Makati and Taguig have become easily accessible with the completion of C5 extension, giving residents of nearby developments such as Avida Towers Sucat the convenience of going to and from work with ease, while providing its investors an added value to their property. Looking for leisure? There’s something for everyone There is a range of leisure options to suit every mood and budget (just be mindful of safety precautions against the spread of COVID-19). For shopping, the famously frenetic Baclaran Market has plenty of affordable finds. On the other side of the city is the recently opened Ayala Malls Manila Bay, the first Ayala Mall in Parañaque and the developer’s biggest in the country to date. Between these places and Parañaque’s other accessible malls (SM City BF Parañaque and SM City Sucat, for starters), one can find everything that they need at arm’s reach without leaving the city. Dining out can also be as laidback as a spread of fresh seafood at a “dampa” – seafood markets that offer cooking services – or as quaint as a meal in the many small, unique restaurants lining Aguirre Avenue in BF Homes. Aguirre is a veritable food hub and the South’s answer to Quezon City’s Maginhawa Street and Marikina’s Lilac Street. Those who want to take it up a notch can hop over to the nearby resorts: Okada Manila, Solaire Resort and Casino, and City of Dreams Manila. These three are part of Entertainment City, a PAGCOR-owned gaming and entertainment complex by the bay and poised to become the Las Vegas of Asia. Soon to rise in the same compound is Westside City Resorts World. Urban comforts, suburban vibe Living in Parañaque is a value-for-money option for those who are seeking the conveniences of a city but in a more peaceful, suburban environment. Avida Towers Sucat is strategically located along Dr. A. Santos Avenue (formerly Sucat Road) where commercial establishments, hospitals, schools, and the airport are all in close proximity. It is also a stone’s throw away from Metro Manila’s central business districts (CBD). So whether you are seeking a home that lets you live that urban-suburban lifestyle or looking to invest in a property that is poised for growth in the coming years, Parañaque and Avida Land should definitely be on your shortlist.