Major RP developers invest heavily in BGC

Source: Philippine Star
June 29, 2007

Within the next five years, over 9,000 residential condominium units spread in at least 28 high-rise buildings will become available in Bonifacio Global City indicating the status of the 240 hectare business district as a fast-rising urban center. In addition, 14 office towers as well as major institutions like the 600-bed ultra modern St. Luke?s hospital are also under construction.

Funded individually by the major players in the Philippine real estate industry, the fast rising projects in Bonifacio Global City represent a collective investment in the area with an estimated value of at least P70 billion, strong assurance of the district?s emergence as a premier residential and business hub. Among those betting heavily on the keen prospects of Bonifacio Global City are listed companies Ayala Land, Megaworld, Robinsons Land and CandP Homes? subsidiary Brittany Corp. Other companies that are seeing the great potentials of the rising business district are Federal Land, Philtown Properties, Century Properties, Meridien, G&W Architects, Winville Development Corp, PhilRealty Global Marketing Inc., Daichi Propoerties, Golden Forum Land, WLand and First Global BYO.

Jun Bisnar, head for commercial operations of Fort Bonifacio Development Corp. (FBDC), the firm taking charge of overall development of the area, projects that about 7,000 to 9,000 new households will soon establish residence in this dynamic section of Taguig City. As families flock to the area, a fresh wave of office and commercial buildings are set to follow suit.

Unlike other business districts in the metropolis, Bonifacio Global City is prepared to provide an environment where residences, offices, schools and commercial centers are within walking distance of one another. The new masterplan of the City Center resulted to more efficient traffic flows for vehicles as well as for the people on the ground. Bisnar noted: ?This advantage will allow residents and other locators to spend quality time with their family, on their various interests and hobbies in life, and on what really matters to them. Our innovative masterplan includes a modern road network that works, attractive amenities that encourage walking, lush parks and open spaces and other elements that contribute to better quality of life and good health because of the invigorating and clean environment of Bonifacio Global City. All these will ensure that Bonifacio Global City will deserve its descriptor as the ?home of passionate minds.?

The promise of suburban living in a central in-city location is the reason behind the brisk sales of Serendra, a 12-hectare residential complex with 65 percent of the area devoted to lush landscaping. It has the highest open space ratio among in-city residential condominium. The complex offers various lifestyles. One Serendra, by Ayala Land Premier, is the lowest density residential condominium project in Metro Manila with units that offer exclusivity and privacy. Community Innovations? Two Serendra is composed of condominium clusters that offer vibrant social interaction. But whatever lifestyle one chooses at Serendra, all homeowners benefit from its being minutes away from the Makati Business District.

Robinsons Land has three residential condo projects in Bonifacio Global City, the 44-story McKinley Park Residences; the 40-story Fifth Avenue, and the 28-story Fort Residences. The three condos will yield around 1,200 units, which have been successfully offered in the market.

Century Properties is the builder of the 39-storey South of Market twin towers and the 32-story Essensa East Forbes, while Philtown Properties finished the 43-story One McKinley Place and is constructing the 28-story Fairways Tower.

Most developers agree that the innovative masterplan of the area built around the Bonifacio High Street and the City Center, is a chief attraction of Bonifacio Global City. Jing Serrano, president of Brittany Corp., has pointed out that aside from being the fastest growing area in the Philippines, ?BGC was well masterplanned with wider roads, ample open spaces and many amenities.? Brittany is constructing the Avant at the Fort, a 38-story residential tower with 300 units. Avant is the first of Brittany?s series of residential projects in Bonifacio Global City.