Global City lot sales exceeds expectations

A year after the Ayala-Campos group acquired a controlling stake in Fort Bonifacio Development Corp. (FBDC), investor interest in Bonifacio Global City has strengthened significantly with a number of buyers snapping up lots in prime areas of the emerging business district.

According to Bobby Dy, head of commercial operations of FBDC, sales of lots in Bonifacio Global City have exceeded expectations. Since the Ayala-Campos group took over last April 2003, a total of 35 lots ranging from 941 to 5,908 square meters in Bonifacio Global City have been sold. "We continue to receive numerous inquiries from potential lot buyers," he says.

Ayala Land Inc., the country’s largest property developer, and its partner, the Campus group, which has interests in pharmaeuticals, food and real estate, have been key in developing the area. "Investors see the potential of Bonifacio Global City given its prime location and the commitment of its developers to fulfill the vision for the city as the nex business district" explains Dy.

Developers of residential and office projects, commercial and service establishments have led the pack in investing in Bonifacio Global City where land prices currently range from P45,000 to P120,000 per sqm. Bonifacio Global City’s office buildings are currently fully occupied, says Dy. Many established retail operators have likewise reported strong sales, while Bonifacio’s range of luxury residential buildings have served as attractive homes to members of the foreign community, business leaders and top executives.

He observes that call centers and business outsourcing firms have been particularly interested in the district called E-Square, which is accredited by the Philippine Economic Zone Authority. This allows locators to avail of incentives such as reduced taxes and duty free importation of capital equipment. Like the rest of the city, E-Square has a fiber optic cabling network, which supports a wide range of telephone, video and data applications.