Build now or build later?

I have multiple lots in a city in the province, albeit not contiguous but each parcel is decent enough to build a multi-storey structure. It is situated in a newly constructed bypass/connector road connecting both the national highway and the provincial road. (Each main road leads to the business districts, making those districts only a barangay away from the area)

The area also has multiple government centers (1 regional office, 2 city offices, and more to be built within 3-5 years according to a management level employee in DAR) and a city convention center. There’s heavy public infrastructure investments in place, not to mention how the lots were subdivided 3 years ago in anticipation of the completion of the road. The lots sold out quickly, with banks even buying land there.

My question is, assuming i have the budget right now (which i don’t have yet since construction costs are sky high) would it be wise to build a flagship property (a multi- storey bldg) outright to kickstart the development right away in the area?

Or whether i build now or build later, will the inherent value of the land ramp up commercialization hastily? Also, even if I build now, will i get decent cashflow from the commercial rental?

I guess the things to consider here is that the province is not in CALABARZON. However, growth in this city has been unprecedented. It’s two business districts have now no space, and it’s expansion will now spill outward. Common sense dictates that this area will be the first to benefit from the spill over effect, due to it being along the connector road between the two major highways mentioned. (The road is also fairly short, only 2-3km long yet is a wide major connector road along govt centers).

One thing that could deter early development is that “malalim” yung lupa. Since it is an agricultural area which transitioned to mixed-use/ commercial zoning… (however, the government infrastructures (and intent to make known the area) in place may outweigh its perceived deterrence, but how far are early investors willing to go, especially this early?)

Given the infrastructures in place, what could be its development trends in 5 years? Are there similar areas to this that have ramped up in commercialization within half a decade?

As a 21 yr old who is still a neophyte in this industry, i would like to hear your thoughts, thank you po for your time in answering :)).

TLDR

• area near govt centers (1 regional, 2 city offices… more to be built)
• near a city convention center
• newly constructed connector/bypass road, connecting two major highways (these highways are heavily populated by commercial development, since it leads to their respective business districts which is only a barangay away from my area)
• area transitioned from agricultural to mixed use (with many lots subdivided 3 years ago and sold out)
• medyo malalim ang lupa, need tambakan…