Bay City next area of NCR growth

Bay City is set to be the next big thing in Metro Manila, according to a report by Philippine Daily Inquirer.  

By 2022, property experts are convinced that this flourishing fourth central business district (CBD) will join the ranks of Bonifacio Global City, Makati City and Ortigas Center.  

Known as the Bay City or the Manila Bay Freeport Zone, this rising waterfront development is set to be the next big thing in the metropolis.

Waterfront developments as image of urbanization  
Globally, coastal regions cover 20 percent of the Earth’s total surface area and are home to a sizable portion of the world’s urban population. This is unsurprising, given that a variety of economic activities, including shipping and maritime transport, aquaculture, fishing and tourism, attracted large numbers of residents and workers.  

When viewed from the grandiose bodies of water, waterfront developments form the “first row” of a city’s urban skyline, making them a critical component in defining the urban landscape. The allure of bustling waterfront developments potentially reshaping a city’s image is so compelling that some cities lacking waterfronts attempted to establish one.  

A jack of all trades  
Accessibility plays an important role in the rise of the Bay City. With its proximity to the Ninoy Aquino International Airport (NAIA) and to new and upcoming infrastructure developments such as the Light Rail Transit (LRT) 1 Cavite Extension, NAIA Expressway, Metro Manila subway, Parañaque Integrated Terminal Exchange, and the Sangley Airport, the Bay City’s accessibility to foreign tourists and the general public make it the perfect hub for commercial, cultural, economic and residential activity.  

Molding the Bay City into Metro Manila’s latest central lifestyle and business hub has been made possible through billions of investments from multifaceted industries. There’s the relatively new Aseana City, an integrated mixed-use development; Cultural Center of the Philippines; the new Department of Foreign Affairs building; Entertainment City with amusement parks, hotels, Las Vegas-style casinos, office buildings, residences, resorts, and theaters, and; SM Mall of Asia, one the largest malls in the Philippines.  

In terms of residential occupancies, the Bay City also remains competitive. Real estate research and services firm Colliers Philippines believes that the aggressive construction of residential condominiums in the Bay City is due to the large gap between supply and demand. In fact, the firm believes that by 2021, the Bay City will overtake other CBDs in Metro Manila in terms of completed residential condominium units.  

Much further down the line, the Bay City is also set to house the world’s largest IKEA store, the new Resorts World Casino, and the New Manila Bay City of Pearl.