MANILA -- The Metro Manila Subway is poised to spur economic growth in areas along its track, especially common stations, a property consultant said Wednesday.
The price of properties within the 1 kilometer perimeter of all the proposed stations could increase, said Colliers International senior manager for research Joey Roi Bondoc.
Residential towers, offices, condominiums and retail spaces can be developed near every station, with the proposed North Avenue and Quezon Avenue stations in Quezon City benefitting the most, he said.
"We really expect developers to cash in on proposed construction of the Manila Subway," Bondoc said.
"The North Avenue Station, we believe will benefit from the construction of the subway project because of the interconnection provided by the subway, MRT 7, MRT, LRT common station," he said.
Bondoc said developers should consider building up their land bank for residential and mixed-used projects. In congested areas such as Katipunan Avenue, existing projects could be redeveloped to take advantage of the subway.