THE Bases Conversion and Development (BCDA) and Megaworld Corporation signed a memorandum of agreement to create a Planning Review Board (PRB) that will set the design standards and guidelines for Bonifacio Capital District - a development that will integrate existing townships and other properties inside Fort Bonifacio.
“The Planning Review Board is one of the most important bodies in any development. It’s in-charge of ensuring that each locator or tenant in the property follows the guidelines. It’s [also] in-charge of the short, medium, and long-term development of the entire property,” BCDA president and CEO Vivencio Dizon said.
In the agreement, the PRB will consist of six members, with three authorized representatives from BCDA and another three from Megaworld. The PRB will employ the Estate Management Company which will act as the enforcement body for the implementation of the design standards and guidelines.
The 160-hectare district covers six properties including Megaworld’s McKinley Hill (54.3 ha.) and McKinley West (34.5 ha.), and BCDA-owned lands such as the Navy Village (25.8 ha.), the Bonifacio South Pointe property (33.1 ha.), Consular property (10.1 ha.), and a one-hectare remaining lot.
“Megaworld and BCDA have been partners for more than 15 years when we first built McKinley Hill in early 2000. Since then, [both] have shared the same vision in building vibrant communities for Filipinos where businesses thrive...and individuals pursue their dreams,” Alliance Global Inc. CEO Kevin Tan said.
Dizon lauded Megaworld’s townships, McKinley Hill and McKinley West, which have translated to huge economic benefits especially, in terms of providing jobs in the BPO (business processing outsourcing) and construction sectors, as well as in real estate investments.
The Bonifacio Capital District will soon house major government institutions such as the Senate of the Philippines, the Court of Appeals, and the Supreme Court. These will be complemented with other mixed-use developments such as residential, commercial, and recreational facilities, to make the district a truly dynamic and sustainable community.
BCDA will also develop the Bonifacio South Main Boulevard, a six-lane road that will improve traffic flow and accessibility in Lawton Avenue and other prospective developments in Fort Bonifacio. The boulevard will also serve as an alternate access from the Ninoy Aquino International Airport to Bonifacio Global City. (PR)