MRT-7 completion to boost property values along its route

PROPERTY values are set to appreciate further in North Caloocan, Novaliches and up to San Jose del Monte in Bulacan as the Metro Rail Transit Line 7 (MRT-7) is on track for completion by the end of this year, Leechiu Property Consultants (LPC) executives said.

“The 24.7-kilometer rail and road project that starts from North Avenue in Quezon City will unlock the potential of tracts of land along the route as they become easily more accessible to Metro Manila’s business districts and other places of work,” Alvin Magat, LPC director for investment sales, said in a statement.

MRT-7 runs from North Avenue, Quezon City to San Jose del Monte in Bulacan. It aims to accommodate up to 300,000 passengers in its first year of operation.

“If you take MRT-7, then connect to MRT-3 to Makati or LRT-1 to Manila from the North, travel time to business districts along the route will be cut to less than an hour. This development will entice middle managers and employees and their families to give up Metro Manila’s more crowded and expensive residential units for attractive and more spacious, masterplanned neighborhoods in the North,” Mr. Magat said.

Major developers including Ayala Land, Inc., SM Development Corp. and Vista Land & Lifescapes, Inc. have acquired land along the MRT-7 route.

“No matter what the economic situation, properties in strategic locations will always remain great investments,” Mr. Magat said.

If you like this article, share it on social media by clicking any of the icons below.

Or in case you haven’t subscribed yet to our newsletter, please click SUBSCRIBE so you won’t miss the daily real estate news updates delivered right to your Inbox.

The article was originally published in Business World.