Serendra blast raises safety concerns among condo buyers

Aya Lowe
Future buyers are making more inquiries about the safety features of high-rise buildings following the blast at Serendra Two condominium units in Bonifacio Global City

Blasts at a condominium units have potential buyers being more vigilant about safety measures. Photo by Rappler/John Javellana

MANILA, Philippines – Homebuyers have been making more inquiries about the safety features of high-rise buildings following a recent blast incident at a posh residential area in Bonifacio Global City.

Joey Santos, general manager of the Real Estate Division at Ortigas & Co., said that, while there hasn’t been any evidence of clients shying away from residential properties in the days following the blast, potential buyers have been making more inquiries about safety features.

He noted that questions about safety in high-rise condominiums have been a staple, but the incident involving Two Serendra units in Taguig City increased the number of questions they are getting from potential clients. 

“The buyers have become more specific about their questions, such as how safe our buildings are,” Santos said during a pres briefing on Tuesday, June 4.

Eye on the findings

So far, the Ortigas group has not experienced any slow down following the May 31 explosion in Serendra that killed 3 people, he said.

“If there are any repercussions, it will really depend on what the findings [of the Serendra investigation] show,” he added.

“If people ask more questions about the safety features being put in buildings, it’s good for developers like us to invest in making sure that buildings have all the safety features,” he added during the briefing at Capitol Commons, the developers’ latest mixed use development located in Ortigas. 

The reason behind the blast has still not been identified and investigations are still underway

According to real estate consultancy company, Jones Lang Lasalle, the incident would only have a short-term effect on demand and prices. 

“Price won’t be affected by the incident no matter what the result will be. It could plateau but only for a short term. This is a short term effect,” Antonio Sabarre, associate director of markets at Jones Lang Lasalle told Rappler on Monday, June 3.

“Fort Bonifacio still has high demand for real estate and it will continue to be in demand,” he added, referring to Bonifacio Global City, one of the fastest rising business and residential districts in the country. – Rappler.com

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