By Ayen Infante
Daily Tribune
11/28/2006

The Fort Bonifacio Development Corp. (FBDC), a tie up between the state agency Bases Conversion and Development Authority (BCDA) and a consortium led by Ayala Land Inc. (ALI) and the Campos Group, plans to spend some P10 billion in the next five years to develop the area into a world-class residential and commercial center.

FBDC head for commercial operations Aniceto Bisnar Jr. said the company will set aside between P1.5 billion to P2 billion annually to develop the Global City in the next five years. Bulk of the amount will be spent to complete the development of the city center covering 30 hectares.

Out of the total coverage area, about 94 hectares will be used for the construction of residential areas, some 28 hectares for commercial development and the rest for institutional and landscaping development.

Bisnar added that in the next five years, FBDC is projecting to build 100 buildings under 79 projects. Global City‘s total land area is about 240 hectares. More importantly, office spaces in the Bonifacio Global City will increase by 75 percent in the next three years as locators realize the emergence of Bonifacio Global City as another globally-competitive business district.

BCDA Vice President for corporate planning and business development Aileen Zosa, meanwhile, said a critical mass of commercial and retail, residential, institutional and office developments is fast emerging in the Bonifacio Global City particularly those initiated by the FBDC.

More about Bonifacio Global City

• Bonifacio Global City : the Philippines’ future premiere central business district
• Bonifacio Global City™ Gets A Grand Makeover
• The Bonifacio Global City Center

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