Pasay City

The city that has everything 

One of the charms of Pasay City is its mix of attractions that range from cultural to recreational, and entertainment. There is something for anyone and everyone in the city. 

Its proximity to key areas like Manila, Makati, and Taguig City makes it an attractive location for both residential and commercial investors. 

When it comes to developments, Pasay City has a reputation as an entertainment and business hub. It hosts the iconic SM Mall of Asia, a colossal shopping complex that stands as one of the largest malls in the country, the biggest IKEA in the world, and the Entertainment City complex, a sprawling development that features casinos, hotels, and entertainment facilities, contributing to the city’s dynamic atmosphere. 

If you’re looking at it from an investor’s perspective, perhaps, a crucial component of Pasay City’s identity is its role as a major transportation hub. The Ninoy Aquino International Airport (NAIA), the primary international gateway to the Philippines, is located within the city limits. 

This strategic location makes Pasay City a focal point for travelers entering and leaving the country. The city's accessibility is further enhanced by its connection to major roads and highways, including the Epifanio de los Santos Avenue (EDSA) and the South Luzon Expressway (SLEX), facilitating seamless travel within and beyond Metro Manila.

A city with a bright future 

Although it is the third smallest political subdivision in Metro Manila with a total land area of just 18.64 square kilometers, it exhibits a balanced mix of residential and commercial areas by providing a range of housing options and commercial establishments, creating a harmonious blend of urban living.

Over the last decade, developments in the city have been aggressive with infrastructure improvements as well as the rise of investment opportunities through commercial and residential projects. And the city isn’t stopping anytime soon, with the Entertainment City project that started in 2021 looking to bring in more residential and commercial developments as part of the gaming and entertainment complex project by PAGCOR. 

Pasay City is a melting pot of all things cultural, historical, and modern attractions, making it an incredible gem within Metro Manila. With the current and ongoing developments in Pasay City, it’s clear that it has so much more to offer in the years to come and that future investment opportunities are very much underway.

A few decades ago, no one would associate Pasay City with luxury living. Fast forward to today, the city houses some of the country’s most luxurious hotels and casinos, boasting an exciting array of world-class shopping, entertainment, and dining options. 

For anyone who is planning to purchase their first investment property, a word of advice - keep your eyes on Pasay City. At the pace that it is going right now, Pasay City has a great potential to become the next most desirable city in Metro Manila, and as a property investor, you don’t want to miss out on that. 

In this article, we share why investing in Pasay City is one of the best decisions you will ever make. 

Strategic location

Pasay City is in the heart of Metro Manila with proximity to major cities like Makati, Manila, Taguig, and Mandaluyong, providing unparalleled accessibility to entertainment hubs, commercial centers, business districts, and other transportation networks. 

Speaking of transportation, the Ninoy Aquino International Airport is located in Pasay City, making it more attractive to local and foreign investors. Major roads and highways also connect the city to different areas in and out of Metro Manila making it highly accessible for travel and connectivity for residents and tourists. 

Infrastructure development

If you look back at Pasay City from two decades ago, you might not recognize it from the city's changes. However, these changes have contributed to the overall livability of the city and the growing demand for both residential and commercial developments. 

The surge in infrastructure development throughout the years with projects such as the NAIA expansion, the construction of the Metro Manila Skyway, the Eco-City development plan, and the ongoing development of the Bay Area contribute to Pasay City’s economy, tourism, and the rise in demand for property investments.

Speaking of the Bay Area, the part of Pasay City that is shared with Parañaque City is an ongoing multi-million dollar project that is expected to increase property values and demand for commercial and residential properties. In fact, according to Colliers International, land values in Bay Areas have consistently been increasing since 2010 and by the end of 2021, per square meter of land in the Bay Area reportedly cost ₱355,300. 

Another interesting fact about the Bay Area is that in 2021, it accounted for about 21% of the total condo stock in Metro Manila - coming second after Fort Bonifacio. 

Meanwhile, the Pasay Eco-City Coastal Development Plan, also known as Pasay 265 and Pasay 360 are reclamation projects in Manila Bay that cover 265 and 360 hectares of land respectively. Pasay 265 in particular is a joint venture with Pasay Harbor Corp. At the same time, Pasay 360 is a joint project with SM Smart City Infrastructure and Development Corp. These projects are expected to generate jobs and over ₱1.3 trillion in revenue. 

Accessible transportation options

Looking to provide a more efficient and convenient mode of transportation for residents, workers, and tourists, the Pasay City government, the Department of Transportation, and SM Group have collaborated on the 1.89-kilometer Pasay Monorail project. 

The Pasay Monorail project with its center station reported to be at the iconic SM Mall of Asia Globe, is an added transportation option to the existing LRT-1, MRT-3, jeepneys, and EDSA Busway. 

Tourism and entertainment hub

Boasting world-class hotels and casinos, shopping centers, and leisure destinations, Pasay City is home to famous attractions like the Solaire Resort & Casino, Resorts World Manila, and the SM Mall of Asia. 

Purchasing properties near tourist and entertainment attractions in cities like Pasay helps increase property values over time, leading to generating higher income and investments for property owners. 

Stable demand for properties 

In 2022, there was an increase in the number of condominiums in Metro Manila reaching 151,200 units, with the Bay Area accounting for two-thirds of those numbers.

Meanwhile, the demand from the offshore gaming industry puts the Bay Area at the top of the condominium submarket, with Colliers International projecting to account for half of the expected completion in the next three years, overtaking Fort Bonifacio and the Makati CBD. 

Great potential for investors

No matter where we look, we can confidently say that Pasay City has nowhere to go but up in terms of investment opportunities whether you’re a seasoned or first-time investor. As a homeowner, Pasay City offers all the necessities one will need to live a convenient, hassle-free urban life, providing high-quality schools, hospitals, places of worship, and transportation options, as well as entertainment and tourist attractions.