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The path to a greener city is right in our midst—the Bonifacio Global City in Taguig. The planned city is already one of the most vibrant in Metro Manila and continues to expand day to day.
Despite the amazing growth, the Global City remains a green haven, flush with landscaping and greenery. Among the new and green projects is Net Lima Building, a pilot project under the Philippine Green Building Council’s Berde program (Building for Ecologically Responsive Design Excellence).
Re-Posted by: Jonas Montemayor
Listed real estate developer Century Properties Group Inc. has partnered with Asian Carmakers Corporation (ACC) to develop a two-tower commercial project in Bonifacio Global City this year.
ACC, owned by Jose Ch. Alvarez, is the lessee of the property bounded by 3rd and 4th Avenues and 27th streets in Fort Bonifacio Global City, Taguig. The lot is owned by AFP-MBAI, Century Properties noted in a statement Monday.
CPGI chairman Jose E.B. Antonio said the company will form a new corporation with ACC to construct two towers—one for commercial offices and the other for a hotel—with an expected gross floor area of 30,000 square meters.
Ayala Land Inc. said it will launch this year a masterplan for the development of the 74- hectare Food Terminal Inc., which the developer renamed as Arca South.
Ayala Land president Antonino Aquino said in an interview Arca South would be another mixed-use development containing residential, office and commercial projects.
Aquino said initial plans for the property involved the development of a first residential tower under the Avelo Land Inc., a residential brand that caters to high to mid-market customers.
The feasibility study for a P70-billion monorail project at the Bonifacio Global City may be up for Japanese funding, depending on the outcome of a presentation to the National Economic and Development Authority (Neda) and the Japan International Cooperation Agency (Jica) next month.
Arnel Casanova, president of the Bases Conversion Development Authority (BCDA), said the target was to present the pre-feasibility study next month to Neda and Jica and a decision would be made if funding for the study could come from the Japanese agency.
Economic Planning Secretary Arsenio Balisacan, who is also Neda director general, noted that the preparation of the feasibility study, if it would proceed, need not be tied to the funding source of the project.
Property giant Ayala Land Inc. has started to unlock values from the Food Terminal Inc. property in Taguig City, now called “Arca South,” selling a number of commercial lots to ignite development in the 74-hectare landbank it acquired from the government last year.
In a briefing last week, ALI chief finance officer Jaime Ysmael said ALI sold about 17 commercial lots in varying sizes—typically ranging between 2,500 and 3,000 square meters—based on a headline price of P150,000 to P155,000.
“It’s intended not only to generate liquidity and monetize part of what we paid for FTI but, at the same time, accelerate the rate of development … this is what we’ve been doing in previous developments,” Ysmael said.
The upswing is more pronounced at the Bonifacio Global City, where land values rose 28.1 percent last year to an all-time high P237,000/sqm and were seen to increase to P250,000/sqm by the fourth quarter of 2013.