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FBDC allots P1.5B for Global City development

By Marianne V. Go
Publication Date: [Tuesday, November 28, 2006], Philippine Star

The Fort Bonifacio Development Corp. (FBDC) plans to spend next year P1.5 billion on road infrastructure, landscaping and for the development of more than 1.6 million square meters of floor space covering at least 79 buildings and complexes.

In a press conference, FBDC commercial operations head Aniceto V. Bisnar Jr. said they will be spending an average of P1.5 billion a year over the next five years to fully develop the Bonifacio Global City which will rival the existing Makati Business District.

The FBDC is a joint venture of the Bases Conversion and Development Authority (BCDA) and the Bonifacio Land Corp. which is comprised of Ayala Land Inc. and the Campos group.

BCDA vice president for Corporate planning and business development Aileen Zosa said a critical mass of commercial/retail, residential, institutional, office developments is fast emerging in the Bonifacio Global City.

These real estate projects include those initiated, funded or developed by both BCDA and FBDC.

According to Zosa, available office space in the Bonifacio Global City would increase by 75 percent in the next three years as locators realize the emergence of Bonifacio Global City as another globally-competitive business district.

At present, the Bonifacio Global City has some 56,100 square meters of floor area devoted to office spaces in the Bonifacio Technology Center, Net One and Net Square, among others.

Lined up for construction are local and international offices like Fort 26th Street, HSBC, Hanjinphil Headquarters, Net Cube and the Chancery for the Singapore Embassy, which will collectively bring up the office space to 221,555 square meters.

The BGC also features a high quality of life to its locators given the availability and proximity of residential and commercial centers to offices, provision of reliable, 24-by-7 water and electric supply and telecommunications service as well as a spectacular view of the adjacent Manila Golf fairways.

Complementing the rise in office space are ongoing residential projects: Kensington Place, Fairways Tower, south of Market, Hampton’s Place, Forbestown, Fifth Ave. Place, Serendra and the Icon.

New projects include McKinley Park Residences, Seibu, Chateau de Noble and Grand Hamptons II.

A variety of commercial and retail facilities also abound from the Fort Square, to Market! Market! to the Forbestown Restaurant Circle and to High Street Center which is set to open at the end of this month and occupies 800 square meters or the length of Ayala Avenue.

High Street Center, Bisnar said, would contain fine dining outlets on the ground floor while the upper floors would house offices.

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