- This project is designed to relieve traffic congestion along Sen. Gil Puyat Avenue, Makati Avenue and Paseo De Roxas. The project will consist of an 880-meter long 4 lane covered vehicle underpass for express traffic with at-grade roads and intersections at Makati Avenue and Paseo De Roxas for crossing traffic.
- Effective 3rd week of May 2015, portions of Sen Gil Puyat Avenue (Buendia Avenue) and its interserctions with Makati avenue and Paseo De Roxas will be partially closed to traffic to make way for the construction of the vehicle underpass.
- DPWH is coordinating with the Makati LGU and MMDA on a traffic management/rerouting plan to manage traffic flow and keep the area passable during construction.
- Nevertheless, please expect longer travel time and consider taking alternate routes during construction.
In a forum organized by the Financial Executives of the Philippines, Jones Lang La Salle country head David Leechiu seems to agree with our assessment. He said he also sees this as an opportunity for property developers.
“People coming from Ortigas to Makati will see longer travel time. Many people may take an apartment in Makati instead of spending four hours inside a car,” according to David Leechiu. (Interaksyon.com)
Rents and Capital Values Expected to Increase in 2015
According to the most recent Colliers report (Q4 2014), Makati CBD rental rates are expected to grow this year, at between 6.7% to 8.3% compared to 2014. On the other hand, they also expect that residential capital value growth to outpace rents, estimating growth at between 7.0% to 8.3 % in 2015.
Rental rates may be affected in the Q1 to Q2 2015, as people anticipate their need for condo units. Property investors may also drive up capital values should they anticipate a major growth.
Other Sources of this News:
> DPWH to start work on Buendia Tunnel project in April
> P1.2-B Makati underpass construction to start soon
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