Bataan town executive predicts housing scarcity

Bataan town executive predicts housing scarcity

Bataan town executive predicts housing scarcity

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MARIVELES, Bataan – Mayor Ace Jello Concepcion of this town is expecting to encounter a huge housing shortage here with projected establishment of a South Korean owned labor-intensive business process outsourcing industry and the expansion plan of export oriented manufacturing firms at the Freeport Area of Bataan (FAB) which is considered as one of the briskly growing investment hubs in Central Luzon.
He observed the development in the local economy which are highlighted by the effective and efficient implementation of local government incentives to new stakeholders, peace and order, healthy business atmosphere, sufficient power supply, availability of technically skilled and professional labor and the advantageous geographical location of Bataan peninsula to Metro Manila are only a few factors which attract local and foreign investors .
The high-spirited confidence level espoused by locators to the bright business prospects and export-oriented quality products manufactured at the Authority of the Freeport Area of Bataan (AFAB) have drawn more capitalists in the province’s leading industrial town, Concepcion explained.
Real estate and lodging developers, homeowners and other sectors engaged in corporate leasing business are rushing the construction of socialized housing subdivisions, apartment-type shelters to resolve the acute accommodation shortage .
Based on the favorable outcomes of the extensive feasibility studies conducted by corporate financial management team analysts that the operations of industrial , manufacturing and commercial companies in the country’s first export processing zone have generated widespread exigency for housing facilities .
The swift urbanization pace is trace to high migration of population from other provinces and continuous labor requirement needs of the on-going industrial development in FAB,Petrochem Park and the improvement of the proposed another Special Economic Zone of San Miguel Corporation in the coastal village of Biaan, this town.
At this stage , Mayor Concepcion said at least five (5) real estate developers from Metro Manila and in Central Luzon are searching for probable sites preferably in the coastal villages for residential housing ,apartment –type and condominium unit projects to resolve the pending housing problem
Concepcion said local housing developers are facing with the big real estate corporations for the suitable sites in the coastal villages of Alas-Asin, Lucanin,BASECO and other areas near the AFAB and the San Miguel Global Corporation (SMGC) 500 hectares industrial zone .
Reports showed the current market rate per square meter of land in Alas-Asin ,Mariveles town ranging from P 2,500 to 3,000 per square meter.
The high cost of land along the coastal areas of Mariveles is reportedly due to the relocation of petroleum storage and depot terminals from Manila to Bataan and deeper section of Manila Bay which is reportedly conducive sites for unloading of imported raw materials for distribution to factories and their intended markets in Luzon area.

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