Palafox pushes smart cities plan, partners with Elsal Ventures

ARCHITECTURE and urban planning firm Palafox Associates said it remains optimistic about advancing its smart cities initiative despite governance and economic challenges.

“We’re busier this year than before the pandemic at the Palafox Associates and Palafox Architecture, which is a very pleasant surprise, despite all this negative news about our country,” Palafox Associates Founder and Managing Partner Felino A. Palafox, Jr. said in an interview with ����ý.

“To me, if we address corruption in our economy, climate change, inequality, investments, and infrastructure incompetence, we should be in the top 10 economies of the world,” he added.

In an earlier statement, Mr. Palafox stressed the need to address inefficient land use, strengthen urban planning, and establish smart cities in the countryside as part of a long-term vision for national development by 2050.

He cited a previous projection by Goldman Sachs that the Philippines could become the world’s 16^th largest economy by 2050.

The outlook aligns with Palafox Associates’ “Philippines 2050: A First-World Country, A First-World Economy” campaign, which envisions the country attaining first-world status by mid-century.

“Despite all our challenges, we have three foreign investors, and then maybe without the challenges, we can probably have more,” he said, adding that foreign investors are increasingly selective in choosing Filipino partners they consider trustworthy.

Details of the agreements with the three foreign investors were not disclosed due to non-disclosure arrangements.

Mr. Palafox said one project is advancing, while the other two are in the master planning stage.

Palafox Associates and real estate and land investment facilitation firm Elsal Ventures signed a memorandum of agreement on Feb. 2 to collaborate on integrated development projects across the Philippines.

Under the partnership, Palafox Associates will contribute its expertise in master planning, sustainable design, and resilient urban development, while Elsal Ventures will provide support in land aggregation, investment facilitation, and real estate sourcing.

The companies said the collaboration aims to advance responsible and future-ready projects.

Mr. Palafox highlighted the role of strategic collaboration in city-building initiatives.

“Partnerships like this allow us to align design excellence with smart land development, ensuring projects are not only profitable, but sustainable, inclusive, and resilient,” he said.

Elsal Ventures Chairman and Chief Executive Officer Ernesto L. Salas also expressed optimism about the agreement.

“This will be the first formal partnership, because it is a perfect fit. He can provide the land, design the land, and provide investors from the Middle East or even locals. Then, we can provide the land on the scale he wants,” Mr. Salas told ����ý. — Alexandria Grace C. Magno