real estate

New roads spawn real estate boom

The establishment of new road networks has paved way for the boom of real estate developments in Iloilo, said City Mayor Jerry Treñas.
Treñas was referring to the opening of new roads as pledged by President Gloria Macapagal-Arroyo in her State of the Nation Address (SONA) 2007 before the Congress.
The President’s SONA highlighted the construction of road networks from Iloilo City to the New Iloilo Airport in Sta. Barbara-Cabatuan towns and the Metro Iloilo Radial Road.
The Metro Iloilo Radial Road project is expected not only to reduce traffic congestion along the Iloilo-Roxas Road, particularly the sections of Iloilo City and Leganes-Zarraga towns but will contribute to the economic development of the area.
“The opening of new roads provides easier access, improve traffic, make more efficient the delivery of goods and services and lessen the travel time,” Treñas explained.
“It also opens up new real estate developments. These roads which traverse along rice fields used for agricultural purposes have brought out the lands’ potentials for other uses including its high property value and job opportunities,” he stressed.
Treñas added the maximum use of land properties create more jobs generated by private sector which are more sustainable.
Treñas said the national government has pledged P50-million to the province’s second district and P30-million to the city for road widening project to the new airport, some 19 kilometers north of city.
During her SONA, Arroyo made mention of Treñas as the proponent of road networks that have been included in the pipeline.
The by-pass road starts from the proposed Iloilo Circumferential Road No. 1 and ends about 1.50-kilometer north of Zarraga town proper where it merges with the existing Iloilo-Roxas Road.
The project implementation which so far accounted 10 percent accomplishment is under the supervision of Department of Public Works and Highways (DPWH-6)’s construction division with contractor IBC Builders International Corp.
It started last March 29 and is scheduled to be completed in 210 calendar days.
The scope of work involves the construction of 2.28-kilometer road of 12-meter wide to include clearing and grubbing and embankment.
The road network was conceptualized by the Japan International Cooperation Agency (JICA) with the funding from Japan Bank for International Cooperation (JBIC).
The national government has allotted P50-million budget although the project only has a contract cost of P34-million.
In an earlier interview, a real estate developer said the improvement of roads has boosted the growing real estate developments.
“The road project, particularly the Iloilo City-Zarraga widening and improvement would fast-track the creation of a burgeoning urban community in Zarraga,” said Engr. Domingo Garcia, CEO and Vice-president of Jabez Properties Development Corporation (JPDC).
JPDC is the developer of Happy Homes subdivision situated in said town.
The property boasts of boardwalk landmark, multi-purpose hall, children’s playground, Japanese garden, catfish pond, streetlights, proper power and water supply connection, perimeter fence, security patrol, day care center, convenient store, bakery, drugstore, beauty shops and other small businesses.
“The completion of road upgrading project would lead to an increasing demand in the real estate industry as people would now have easy access to land transportation even if they choose to live in subdivisions outside of the city,” Garcia told The Daily Guardian.
A DPWH-6’s project profile noted the development plan is one of the priority projects of DPWH that would be in place last year or this year.
It was not immediately clear whether the project has been fully-completed.
In his letter to JPDC, DPWH regional director Rolando Asis said the project involves the rehabilitation of the existing national road from the junction of Jaro or Montinola Bridge, Jaro, Iloilo City to Ivisan in Capiz with a total length of 96.80 kilometers.
Meanwhile, the 12-kilometer Jaro/Montinola Bridge-Zaragga section is proposed for four-lane concrete pavement with a carriageway width of 13.40 meters with 2.50-meter gravel shoulder on both sides.
The project starts from Iloilo City to Ivisan in Capiz which is divided in seven sections including Jaro/Montinola Bridge-Leganes (7.10-km); Leganes-Zarraga (4.90-km); Zarraga-Pototan (13.70-km); Pototan-Dueñas/Passi (20.20-km); Dueñas/Passi-Dumarao (19.70-km); Dumarao-Cuartero/Dao/Sigma (18.40-km) and Sigma-Ivisan (12.80-km).
The road project is the central route of Panay Island and is classified as forming part of the North to South backbone of the country’s arterial road network and an integral part of the Strong Republic Nautical Highway.
It serves as the main inter-provincial link connecting the capitals of Iloilo City, Roxas, Capiz and Kalibo, Aklan.