SUMMARY
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Despite the deadly May 31 blast in the posh Serendra condominium, long term prospects of the property market at the Bonifacio Global City in Taguig will continue, according to property analysts at Jones Lang Lasalle Leachiu and CBRE. They cited the brisk demand for office and commercial spaces as key reasons why the long-term upward trajectory of residential projects at one of the the country’s fastest growing property markets will proceed. They noted that the expansion of global firms make BGC a viable alternative to Makati City in hosting company headquarters. There are short term impact, though, including homebuyers who expressed their concerns to their brokers, and the stock market investors who dumped the stocks of Serendra’s developer, Ayala Land. Investigation on what caused the explosion, which killed 3 people, are still ongoing. The owner of the main unit that was blown away is coming home to face investigators.
Read more on Rappler here and here.
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