January 19, 2018, 5:34 pm
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1 Philippine Peso = 0.07263 UAE Dirham
1 Philippine Peso = 2.14992 Albanian Lek
1 Philippine Peso = 0.03521 Neth Antilles Guilder
1 Philippine Peso = 0.37318 Argentine Peso
1 Philippine Peso = 0.02474 Australian Dollar
1 Philippine Peso = 0.03521 Aruba Florin
1 Philippine Peso = 0.03956 Barbados Dollar
1 Philippine Peso = 1.63687 Bangladesh Taka
1 Philippine Peso = 0.03163 Bulgarian Lev
1 Philippine Peso = 0.00745 Bahraini Dinar
1 Philippine Peso = 34.63172 Burundi Franc
1 Philippine Peso = 0.01978 Bermuda Dollar
1 Philippine Peso = 0.02627 Brunei Dollar
1 Philippine Peso = 0.13568 Bolivian Boliviano
1 Philippine Peso = 0.06382 Brazilian Real
1 Philippine Peso = 0.01978 Bahamian Dollar
1 Philippine Peso = 1.25445 Bhutan Ngultrum
1 Philippine Peso = 0.19324 Botswana Pula
1 Philippine Peso = 395.96518 Belarus Ruble
1 Philippine Peso = 0.03951 Belize Dollar
1 Philippine Peso = 0.02456 Canadian Dollar
1 Philippine Peso = 0.01896 Swiss Franc
1 Philippine Peso = 11.96895 Chilean Peso
1 Philippine Peso = 0.12736 Chinese Yuan
1 Philippine Peso = 56.62579 Colombian Peso
1 Philippine Peso = 11.15506 Costa Rica Colon
1 Philippine Peso = 0.01978 Cuban Peso
1 Philippine Peso = 1.77275 Cape Verde Escudo
1 Philippine Peso = 0.40883 Czech Koruna
1 Philippine Peso = 3.49743 Djibouti Franc
1 Philippine Peso = 0.1197 Danish Krone
1 Philippine Peso = 0.95886 Dominican Peso
1 Philippine Peso = 2.24462 Algerian Dinar
1 Philippine Peso = 0.25141 Estonian Kroon
1 Philippine Peso = 0.34978 Egyptian Pound
1 Philippine Peso = 0.53817 Ethiopian Birr
1 Philippine Peso = 0.01607 Euro
1 Philippine Peso = 0.03956 Fiji Dollar
1 Philippine Peso = 0.01433 Falkland Islands Pound
1 Philippine Peso = 0.01431 British Pound
1 Philippine Peso = 0.08957 Ghanaian Cedi
1 Philippine Peso = 0.9371 Gambian Dalasi
1 Philippine Peso = 177.94699 Guinea Franc
1 Philippine Peso = 0.14509 Guatemala Quetzal
1 Philippine Peso = 4.07219 Guyana Dollar
1 Philippine Peso = 0.15475 Hong Kong Dollar
1 Philippine Peso = 0.46509 Honduras Lempira
1 Philippine Peso = 0.11922 Croatian Kuna
1 Philippine Peso = 1.25771 Haiti Gourde
1 Philippine Peso = 4.9644 Hungarian Forint
1 Philippine Peso = 263.35047 Indonesian Rupiah
1 Philippine Peso = 0.06775 Israeli Shekel
1 Philippine Peso = 1.266 Indian Rupee
1 Philippine Peso = 23.41772 Iraqi Dinar
1 Philippine Peso = 723.08147 Iran Rial
1 Philippine Peso = 2.02255 Iceland Krona
1 Philippine Peso = 2.43928 Jamaican Dollar
1 Philippine Peso = 0.01399 Jordanian Dinar
1 Philippine Peso = 2.18216 Japanese Yen
1 Philippine Peso = 2.03224 Kenyan Shilling
1 Philippine Peso = 1.37189 Kyrgyzstan Som
1 Philippine Peso = 79.26622 Cambodia Riel
1 Philippine Peso = 8.12896 Comoros Franc
1 Philippine Peso = 17.80063 North Korean Won
1 Philippine Peso = 21.02452 Korean Won
1 Philippine Peso = 0.00594 Kuwaiti Dinar
1 Philippine Peso = 0.01622 Cayman Islands Dollar
1 Philippine Peso = 6.47765 Kazakhstan Tenge
1 Philippine Peso = 163.7856 Lao Kip
1 Philippine Peso = 29.88528 Lebanese Pound
1 Philippine Peso = 3.04292 Sri Lanka Rupee
1 Philippine Peso = 2.5093 Liberian Dollar
1 Philippine Peso = 0.24248 Lesotho Loti
1 Philippine Peso = 0.0603 Lithuanian Lita
1 Philippine Peso = 0.01227 Latvian Lat
1 Philippine Peso = 0.02646 Libyan Dinar
1 Philippine Peso = 0.18183 Moroccan Dirham
1 Philippine Peso = 0.33356 Moldovan Leu
1 Philippine Peso = 0.98418 Macedonian Denar
1 Philippine Peso = 26.46361 Myanmar Kyat
1 Philippine Peso = 47.8837 Mongolian Tugrik
1 Philippine Peso = 0.1593 Macau Pataca
1 Philippine Peso = 6.96203 Mauritania Ougulya
1 Philippine Peso = 0.64676 Mauritius Rupee
1 Philippine Peso = 0.30795 Maldives Rufiyaa
1 Philippine Peso = 14.11195 Malawi Kwacha
1 Philippine Peso = 0.37086 Mexican Peso
1 Philippine Peso = 0.07803 Malaysian Ringgit
1 Philippine Peso = 0.24161 Namibian Dollar
1 Philippine Peso = 7.0807 Nigerian Naira
1 Philippine Peso = 0.6072 Nicaragua Cordoba
1 Philippine Peso = 0.15518 Norwegian Krone
1 Philippine Peso = 2.0265 Nepalese Rupee
1 Philippine Peso = 0.02715 New Zealand Dollar
1 Philippine Peso = 0.0076 Omani Rial
1 Philippine Peso = 0.01978 Panama Balboa
1 Philippine Peso = 0.06341 Peruvian Nuevo Sol
1 Philippine Peso = 0.0624 Papua New Guinea Kina
1 Philippine Peso = 1 Philippine Peso
1 Philippine Peso = 2.18473 Pakistani Rupee
1 Philippine Peso = 0.06706 Polish Zloty
1 Philippine Peso = 110.52215 Paraguayan Guarani
1 Philippine Peso = 0.07202 Qatar Rial
1 Philippine Peso = 0.07488 Romanian New Leu
1 Philippine Peso = 1.11739 Russian Rouble
1 Philippine Peso = 16.52987 Rwanda Franc
1 Philippine Peso = 0.07417 Saudi Arabian Riyal
1 Philippine Peso = 0.15387 Solomon Islands Dollar
1 Philippine Peso = 0.26503 Seychelles Rupee
1 Philippine Peso = 0.13841 Sudanese Pound
1 Philippine Peso = 0.15847 Swedish Krona
1 Philippine Peso = 0.02609 Singapore Dollar
1 Philippine Peso = 0.01433 St Helena Pound
1 Philippine Peso = 0.4392 Slovak Koruna
1 Philippine Peso = 150.90981 Sierra Leone Leone
1 Philippine Peso = 10.85839 Somali Shilling
1 Philippine Peso = 393.89636 Sao Tome Dobra
1 Philippine Peso = 0.17306 El Salvador Colon
1 Philippine Peso = 10.18552 Syrian Pound
1 Philippine Peso = 0.24175 Swaziland Lilageni
1 Philippine Peso = 0.63054 Thai Baht
1 Philippine Peso = 0.04769 Tunisian Dinar
1 Philippine Peso = 0.04409 Tongan paʻanga
1 Philippine Peso = 0.07507 Turkish Lira
1 Philippine Peso = 0.13281 Trinidad Tobago Dollar
1 Philippine Peso = 0.5839 Taiwan Dollar
1 Philippine Peso = 44.34335 Tanzanian Shilling
1 Philippine Peso = 0.56547 Ukraine Hryvnia
1 Philippine Peso = 71.79588 Ugandan Shilling
1 Philippine Peso = 0.01978 United States Dollar
1 Philippine Peso = 0.56468 Uruguayan New Peso
1 Philippine Peso = 160.81883 Uzbekistan Sum
1 Philippine Peso = 0.19729 Venezuelan Bolivar
1 Philippine Peso = 449.14952 Vietnam Dong
1 Philippine Peso = 2.0449 Vanuatu Vatu
1 Philippine Peso = 0.04966 Samoa Tala
1 Philippine Peso = 10.5352 CFA Franc (BEAC)
1 Philippine Peso = 0.0534 East Caribbean Dollar
1 Philippine Peso = 10.5352 CFA Franc (BCEAO)
1 Philippine Peso = 1.90645 Pacific Franc
1 Philippine Peso = 4.94363 Yemen Riyal
1 Philippine Peso = 0.24183 South African Rand
1 Philippine Peso = 102.64043 Zambian Kwacha
1 Philippine Peso = 7.15783 Zimbabwe dollar

Can we overbuild?

SATURDAY morning I left BGC early to drive to Loyola Marikina for the funeral of the late Teofila Banzuela-Patalinjug, a distant relative and mother of my high school batchmate Dr. Marilou Patalinjug-Tyner.

She had passed away on January 10 two days after turning 88 surrounded by her children, and timing it in a way that she could be buried the day before Marilou (who was on her annual Christmas holidays visit from the US) was heading back to the United States.

Driving early on a Saturday allowed me to traverse C-5 sans its famous vehicular traffic and, since very few heavy trucks were around, I had a chance to look around as I drove.

I was happy to notice the amount of greenery within private subdivisions along C-5 just as from my window in BGC I get to appreciate the greenery in Forbes Park and Dasmariñas Village.

But I also couldn’t escape noticing the amount of construction going on, with high rises rising apparently on every available empty space as landowners maximize their investment and race to build towers that reach for the sky.

Yesterday I drove up to Tagaytay for a golf game and while the morning rush was no rush at all (it being a Sunday) I couldn’t say the same thing about the drive home. It seemed as if every other vehicle from Metro Manila was up in Tagaytay as people strove to enjoy the last few weeks of “Arctic” cold before the sweltering heat of summer sets in.

It didn’t help that the Tagaytay ridge - from the Batulao area right to the Tagaytay Rotonda - is slowly being peppered with high rises whose units serve like pigeon holes for city slickers who seek a weekend retreat closest to the clouds.

Looking at four of them built so close to each other - three owned by the real estate arm of SM and one by the Robinsons group - I even said to myself that here is the reason it’s warmer in the city - the four buildings block the wind flow!

More seriously though I couldn’t help but think - do we come to a point that we overbuild? Other than slowing real estate sales, how will we know we’ve gotten to that point?

Makati is an interesting example.

My first conscious memories of Makati are the Makati of the 1970s when Imelda had her Love Buses and for the first time one could commute from Cubao to Escolta to Makati and back to Cubao in a loop and counter loop in the comfort of an air conditioned bus. And one that didn’t accept standing passengers, mind you.

At that time Makati was the QUAD, and Rustans and the Plaza restaurant. It was the Rizal Theater and Angela Arcade and SM Shoemart.

The tallest buildings in the country (with the exception of the Manila Hilton) could be found along Ayala Avenue where there was a height limit of ten to twenty stories (I think) while Buendia had one limiting buildings to five. Legazpi Village and Salcedo Village were also subject to height limitations and so the office buildings and apartment buildings there were of uniform height.

Traffic was manageable.

Fast forward twenty years and buildings were breaching the old height limitations. Thirty, forty, fifty stories were becoming the norm. The San Miguel building at Ayala and Paseo soon gave way to the Enterprise Tower, as others followed suit. But there was one important thing that didn’t change - the width of the roads all over Makati.

So now you had buildings with five to ten times more occupants than before - and these occupants came with vehicles mind you - clogging the very same streets that had been designed by Makati Development Corporation in the 1960s.

That explains the Makati we have today especially at rush hour. Which is no longer just one hour by the way. And it should explain any other metropolitan area in the Philippines where “Build build build” is not matched with “Re-Plan, Re-Plan, Re-Plan.”

Across EDSA you have BGC or the Bonifacio Global City. I moved to BGC from Makati on 2008 and enjoyed the space. But that was ten years ago. Today with BGC seemingly 60% built up traffic in the area can be impossible. And still more buildings are rising, which will mean more people and more cars. Soon BGC will become just one huge parking lot.

As will Tagaytay. And maybe Cebu. Davao too. Heck even Puerto Princesa.

Can we overbuild? Would we know when we have? Or are we oblivious to this as we reach for the sky - and sky-high real estate profits?
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