In 2018, Richard Javad Heydarian wrote a Forbes Magazine article entitled “Duterte’s Ambitious ‘Build, Build, Build’ Project To Transform The Philippines Could Become His Legacy”. Heydarian stated that infrastructure is clearly the country’s Achilles heel.
How Will the Build Build Build Program Affect My Real Estate Investments?
Should I buy a house and lot for sale knowing that the Build, Build, Build (BBB) Program will be continued for the current administration? How will the Build, Build, Build (BBB) Program affect my real estate investment? Is living in a property near the infrastructure projects an asset or a liability? These are samples of the questions that some individuals have regarding the infrastructure program. Some people might still have some queries about the Build, Build, Build (BBB) Program. What is a brief introduction to the BBB program? What is the Build, Build, Build (BBB) Program?
The Build, Build, Build (BBB) Program is the Duterte Administration’s Infrastructure Plan that aims to accelerate the public infrastructure building expenses and usher in the Philippines’ “Golden Age of Infrastructure”. The infrastructure spending was targeted to cost 8 trillion to 9 trillion pesos during former President Rodrigo Duterte’s 6 years term.
Continuation of the Previous Administration Major Projects
President Ferdinand Marcos Jr. said during his first State of the Nation Address (SONA) that he will continue the Build, Build, Build (BBB) Program. A direct quote from July 25, 2022, SONA: “The backbone of an economy is its infrastructure. The infrastructure program of the Duterte Administration must not only continue but, wherever possible, be expanded.”
With the significant foundation that the former administration has started, keeping the momentum of infrastructure development would be beneficial for almost everyone just like what Senator Villar has mentioned before. The former Secretary of the Department of Public Works and Highways (DPWH), Senator Mark Villar, stated that “The Build, Build, Build (BBB) Program of the government resulted in the creation of hundreds of ports, thousands of roads and bridges, and millions of jobs. As the country welcomes a new administration, it is important to keep the momentum going by uniting behind this advocacy and bringing it to new heights not only for us but also for the generations to come.” as he files the bill to institutionalize the Build, Build, Build (BBB) Program. Information was gathered from the article of Casayura (2022) in the Manila Bulletin. Other major economic hubs in the country were given more access as well and more farm-to-market roads were made during the previous administration’s time. Accessibility and easier transportation of people and goods is key to a better economy.
More Infrastructure Projects Will Only Benefit the Economy
Some advantages of the Build, Build, Build (BBB) Program will be the increase in economic growth and increase in employment rate as more job opportunities will be available for civil engineers, road engineers, safety engineers, geodetic engineers, surveyors, architects, accountants, lawyers, computer programmers, construction workers or laborers, carpenters, electricians, heavy equipment operators, scaffolders, welders, construction managers, masons, foremen, and more. With more job opportunities, Filipinos will have buying power so buying a house and lot for sale might be a good choice, especially since the infrastructure program will continue and be supported by the government and its people. Accessibility, productivity, speed (faster mode of transportation), and peace will be achieved by building more improved railway systems, subways, tunnels, skyways, expressways, airports, seaports, and other facilities (like energy, water resources, and flood control systems). With these in mind, a higher gross domestic product is to be expected in the future.
Patinio (2022) mentioned in his Philippine News Agency article that from 2016 to 2020, the Build, Build, Build (BBB) Program provided 6.5 million jobs to Filipinos. There were 6,854 bridges constructed, widened, upgraded, rehabilitated, and strengthened. Many individuals will be interested in real estate investments as the Build, Build, Build (BBB) Program will help in connecting people literally and figuratively.
With the continued cooperation of Public-Private Partnerships (PPPs), the government and private sectors will be able to build more infrastructure that would help the BBB program in the long run and may open up more opportunities. Having better infrastructures might also be able to attract the interest of foreign investors.
Present and Planned Infrastructure Projects in the Country
Some infrastructure projects in Manila, Laguna, and Cavite include Central Luzon Link Expressway (CLLEX), Cavite – Laguna Expressway (CALAX), Manila-Cavite Expressway (CAVITEX) or Coastal Road, North Luzon Expressway (NLEX) Harbor Link Segment 10 and C3-R10 Section, Metro Manila Skyway Stage 3, Luzon Spine Expressway Network, and Alabang-Sucat Skyway Extension. The Bonifacio Global City-Ortigas Center Link Road Project, Binondo – Intramuros Bridge, and Estrella – Pantaleon Bridge are part of the completed projects under the Metro Manila Logistics Improvement program.
There are also railway projects like the Subic-Clark Railway, the North-South Commuter Railway System that will connect Los Baños, Laguna to Tutuban, Manila, Metro Manila Subway Project, LRT-1 Cavite Extension, MRT-7 that will have 14 stations, and the Common Station that will connect three rail transits LRT-1, MRT-3 (Metrostar Express) and MRT Line 7 (MRT-7). Eventually, remote areas that need more bridges and infrastructures will be given more attention and will be more accessible. It will be a wise decision to buy a house and lot for sale while the infrastructure is being completed. When the time comes and all the projects have been accomplished, those near will experience an easier way of living.
Full Speed Ahead
With the simple and meaningful order from the current president, the Department of Transportation will be improving and modernizing existing ports and railway systems of the country “full speed ahead”. President Marcos said, “Once again, I will not suspend any of the ongoing projects as those have already been shown to be of benefit to the public they serve.”
As the Build, Build, Build (BBB) Program continues to be part of the top priorities of the government, it will be advantageous to the individuals who will be investing in real estate or living in a property near the infrastructure projects. Investing now is better than investing later. Build Build Build (BBB) Program would be beneficial to most Filipinos as it aims to build projects that would connect us. May it be investing in real estate or living in a property near the infrastructure projects, the Build Build Build (BBB) Program must be looked forward to. With the continuation of the Build, Build, Build (BBB) Program, infrastructures are slowly and consistently turning out to be the country’s strength.
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