ANCHORED on the rapid growth of the Philippine economy and the boom of the local information-technology and business-process management (IT-BPM) sector, the demand for mixed-use spaces continues to rise, according to property consultancy firm Leechiu Property Consultants (LPC).
Notably, LPC has pointed to the emergence of a “live-work-play” lifestyle among Filipinos—anchored on their newly acquired purchasing power, as well as the burgeoning infrastructure and transportation gaps—as a reason the demand for mixed-use spaces has continued to rise.
“As more Filipinos are able to wield a stronger purchasing power as a result of the country’s prosperous outlook, real-estate buyers have now settled for a live-work-play lifestyle,” LPC Chief Executive Officer David Leechiu said.
“Developments that address this type of lifestyle are able to afford buyers with a holistic experience through their business, residential and recreational features. These spaces are also more dynamic, with schools and churches that build communities,” he added.
One such development is Suntech iPark, a pioneering campus-type IT park developed by Property Company of Friends Inc.
Accommodating 17,500 seats that translates to a gross leasable area of 88,300 square meters, the Suntech iPark is the first in a series of buildings within Lancaster New City, a master-planned 25-hectare commercial, business and lifestyle district in Imus, Cavite.
As the first accredited IT park by the Philippine Economic Zone Authority in Cavite, Suntech iPark aims to provide and create more jobs and opportunities for Filipinos. The IT park offers a prime opportunity for businesses to invest in the widening pool of talent within Lancaster New City, where its 20,000 residents are able to enjoy a variety of commercial, business and lifestyle activities. Among the developments located within the district include a campus-like strip mall called The Square, educational institutions, and the lush, vibrant, outdoor leisure park Central Greens.
“The development of Suntech iPark in Lancaster New City highlights how these mixed-use spaces offer Filipinos with a dynamic working and living environment. It also presents an exciting opportunity for businesses to expand outside Metro Manila and harness the rich Caviteño talent. As a mixed-use space, Suntech iPark is ideal for both residents and businesses who want to enjoy the perks of the live-work-play lifestyle,” Leechiu concluded.