CREST

Bacolod Highest and Best Use Consultancy

Start Date: May 21, 2018

End Date: July 27, 2018

Status : Complete

The subject of the research is a 43 hectare property in Talisay City, Negros Occidental. It is right beside The Ruins, a major tourist destination in the city. Relevantly, it is surrounded by real estate projects of major property developers such as Ayala Land, Megaworld, and Robinsons Land. It is also by a major highway, the Bacolod Airport Access Road, which provides airport access to the property in less than an hour.

The owners of the subject property have expressed their intention to develop the land, but are perplexed on whether the direction would be towards a low end real estate project or an iconic destination that could even serve the residents of the surrounding projects of the mentioned major property developers. The owners, however, have also expressed their openness to other development innovations if evidence would dictate that such innovations would be financially feasible and would result in a lucrative bottom line.

To assess the existing and future competitive environment for real estate within the vicinity of the property

To come up with an evidence-based highest and best use recommendation for the subject property’s development

To identify potential customer, client and tenant segments with the corresponding lease price points of the highest and best use recommendation

To know the highest and best use recommendation’s market, implementation, and financial pre-feasibility.

Outputs Target Date Accomplishment Date Status
Fieldwork May 21, 2018 - June 01, 2018 June 06, 2018 Done
Macro-Environnemntal and Site Analyses June 03 - 08, 2018 June 26, 2018 Done
Market Study June 11 - 15, 2018 July 09, 2018 Done