Amid the prevailing softness in the Philippine property market, a leading property management and consultancy firm has placed its bet on the New Manila International Airport (NMIA) in Bulacan, seeing it as a magnet for large-scale investments that will transform the North Luzon corridor into the country’s next major investment hub.
During the company’s year-end property briefing, Roy Golez, director of Leechiu Property Consultants, identified North Luzon and the NMIA corridor as the Philippines’ emerging investment hotspot.
Currently, residential lot prices in the North average PHP37,000 per square meter in Bulacan and PHP34,000 per square meter in Pampanga.
The NMIA spans a massive 2,500-hectare (6,200-acre) site and serves as the centerpiece of a planned 12,000-hectare aerotropolis, featuring terminals, runways, and a full township project led by tycoon Ramon S. Ang.
The development has already prompted the rollout of major roadworks, railway links, and related infrastructure projects.
“Bulacan and Pampanga will be a prime investment corridor, attracting mixed-use townships and industrial estates,” said Golez.
In addition to the airport—which is designed to decongest the Ninoy Aquino International Airport (NAIA) in Manila—Golez noted that extensive infrastructure projects across various locations are underway to improve connectivity to NMIA.
These developments are expected to attract manufacturing firms to Central Luzon and accelerate population movement from Metro Manila to the suburbs.
According to Golez, the pattern of growth seen in South Luzon—driven by large economic zones and the rise of logistics companies and warehouses in Cavite and Laguna—will “likely happen also in the North.”
Beyond manufacturing, Golez said Northern Luzon’s growth, particularly in Bulacan and Pampanga, will begin with major township projects. He highlighted the availability of vast tracts of largely undeveloped land in Central Luzon.
“From Balintawak up on the way to Clark, there’s a massive, well, in a few years, massive capital will start to move towards that area, primarily from Central Luzon, which will be developing their airport, as well as the planned Aerotroppolis or Aerocity, and the central business districts,” he said.
Major developers, including Megaworld, are preparing township developments in anticipation of the airport. Developers are awaiting final plans for NMIA, but expectations are high that airline and cargo operations will shift toward the area. “This means movement of money, business and population from Metro Manila,” he added.
