Eight real estate developers eye Global City prime land

The country’s top real estate developers are vying for one of the most prime lands in the Bonifacio Global City that is currently being bid out by Bases Conversion and Development Authority (BCDA).

BCDA vice president for Business Development Aileen Zosa said eight real estate developers attended the pre-qualification conference for the 1.2-hectare property located right beside the city center of the Bonifacio Global City.

The property set for lease or joint venture is part of BCDA’s Asset Disposition Program (ADP) Phase III.

The property is known as the expanded big Delta lots, formerly the government center for investments.

"The property is like the gate to the city center along 5th Avenue and any project that will rise there shall enjoy being in an accessible area," Zosa said.

She said the interested proponents who attended the pre-qualification conference were Ayala Land Inc. Cancio Architects and Blue Gate Development Corp., MegaWorld, Philippine Townships International Corp., Robinsons Land; Rockwell Land Corp., Roxas, delos Reyes, Laurel and Rosario Law Office and Sta. Clara International Corp.

"All the developers who attended the pre-qualification conference showed keen interest in the property," Zosa said.

The property is for mixed-use development.

"It is ideal for five-star hotels, offices and other land uses," Zosa said.

The BCDA expects to earn around P1.8 billion from the 12,036 square meter property over a 25-year term on a present value basis, based on a floor price of P150,000 per square meter.

The Bonifacio Global City boasts of a central location that is a few minutes away from the Makati Central Business District, the NAIA Terminal 3, C-5 and the Ortigas area.

The Global City also boasts of world-class infrastructure that includes an underground drainage detention structure with the capacity to hold 22 million liters of water and release it under controlled conditions to prevent floods.

It also has a fiber optic cabling network to support a wide range of telephone, video and data applications.