BCDA projects growth of office spaces in BGC
Angelo S. Samonte
Manila Times
11/28/2006

THE Bonifacio Global City (BGC) is emerging as the next business center in Metro Manila with the Bases Conversion Development Authority projecting that office spaces in the area would grow 75 percent in the next five years.

“More than 1.6 million square meters of floor space covering at least 79 buildings and complexes will soon transform the Global City into a bustling metropolis in the next five years,” said Aileen Zosa, BCDA vice president for corporate planning and business development. Zosa added that a critical mass of commercial, retail, residential, institutional, office developments is fast emerging in the Bonifacio Global City.

Lined up for construction are local and international offices like Fort 26th Street, HSBC, Hanjin Philippines headquarters, Net Cube and the Chancery for the Singapore Embassy, which will collectively bring up the office space to 221,555 sq. m.

These real-estate projects include those projects that are funded or developed by both BCDA and Fort Bonifacio Development Corp. (FBDC), the joint venture of BCDA and the powerhouse consortium led by Ayala Land Inc. (ALI) and the Campos Group.

BGC also offers the high life to its locators, given the availability and proximity of residential and commercial centers to offices besides the basic power, water and telecommunications services.

“The robust real-estate growth at the Global City showcases the effective partnership between government and the private sector and the sustained investor confidence in the Philippines as an investment destination,” Zosa said.

At present, the Bonifacio Global City has 56,100 sq. m. of gross floor area devoted to office space provided by the Bonifacio Technology Center, Net One and Net Square, among others.