You have to consider that prices of the condo units in global city are relatively a third or even a fourth cheaper than most parts in the US.

So even with the peso appreciation notwithstanding, I expect that residential condos will be very much in demand with the growing affluence of Filipinos in the US and other parts of the world.

The property boom is for real. And the reason that it will not bust is most of the buyers and lessors of condo spaces are end users and companies themselves. :banana:

Dunamis, I agree. Yes, majority of the buyers are end-users and you're right that the Business Process Outsourcing (BPO) industry is also growing. In general, take-up of units is much better in 2006 vs 2005, and I expect the same trend in 2007 ---2007 might be even better than 2006, well that's my fearless forecast!

01.05.07

Serendra, SoMa
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_006x.jpg

Seibu Tower, Fifth Avenue Place, Essensa, Fairways Tower
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_004x.jpg

W Tower
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_003x.jpg

Bellagio 2 and 1
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_071x.jpg

The Infinity showroom, Fairways Tower
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_069x.jpg

Grand Hamptons 1, Net Cube
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_066x.jpg

01.07.07

Forbeswood Heights, Bellagio 2, Bellagio 1, Kensington Place, Penhurst Parkplace, Bonifacio (Chowking) Ridge, Grand Hamptons 1
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010707_024x.jpg

Net Cube, Grand Hamptons 1, SoMa, "what is that '?' building?", Bellagio 2.
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010707_020x.jpg

City by the Bay BY FREDDIE TINGA
http://www.manilastandardtoday.com/?page=police5_jan8_2007

I USED to be part of the Fort Bonifacio Development project.

If I remember right, I was the ninth or 10th employee hired. Being a junior member of the team, I was more involved in the smaller projects, rather than the mega-scale developments. It turns out that these unpretentious ventures would survive the Asian Crisis. There were grand schemes of a new World Trade Center and a Capital Place, which never got off the ground. In fact, the only thing left from the early days was “the Fort,” an interim entertainment center I worked on, meant to draw traffic to Bonifacio at the outset.

One of the issues we were looking at the time was that if the enterprise were truly to become a world-class development, the surrounding area had to be developed as well. Thus, a masterplan was conceived not only for Fort Bonifacio but for the rest of Taguig.

The renowned planning firm Helmuth, Obata and Kassabaum was hired to do just that, which started by explaining to us that to build a truly great city you needed three elements.

Requirement no. 1—a world-class Central Business District. Fort Bonifacio is fast on its way to achieving this status, and easily poised to become the country’s financial hub in the next decade.

Requirement no. 2—access to the international community. This means having an international airport within your boundaries or at least nearby. Terminal-3 (it will open someday, right?) across the Villamor/Sales bridge makes Taguig the most strategic metro area in the country.

Requirement no. 3—an international grade tourism and recreation section to make the city a complete place to live, work and play in. Taguig has just the location for this.

Laguna de Bay is the largest lake in the Philippines and the largest inland freshwater lake in Southeast Asia. It is shaped like a stylized “W,” with two peninsulas jutting out from the northern shore. The huge body of water drains into Manila Bay through the Pasig River. The entire eastern side of Taguig faces Laguna de Bay, giving us a lakeshore area of around a thousand hectares for development. But developing it has long been a touchy issue.

Because of the problems facing and threatening the potential of the lake, then President Marcos signed into law Republic Act 4850 creating the Laguna Lake Development Authority. The agency was tasked to develop and protect the lake, which according to the law, was the area covered by water at its average annual maximum 12.50-meter elevation, including lands located at and below such level that are public lands which form part of the lake bed.

This created a lot of ownership issues for those working and living along the lake. Fields which had been tilled and harvested by families for generations, were suddenly not theirs anymore. Even large tracts of land that were in the interior of Taguig, that had been in the possession of longtime residents, could not be titled because they were supposedly below the lake’s maximum level of elevation. Add to this confusion Taguig’s charter, which allows the city to reclaim and develop its foreshore.

Because of these issues and problems, the proper development and conservation guidelines became difficult to implement. Illegal rights were sold to greedy or ignorant speculators. Fake titles circulated, some of which even covered the lake waters itself. Informal settlements started proliferating, following the general principle in this country where houses—rather than face the lakeshore’s view—turn their backs on it so they can dump their refuse in the lake without anybody seeing.

Hopefully, recent developments will make these problems a thing of the past. Rather than continue this decades-long fight with the agency on ownership issues and development rights, we have agreed to co-develop the lakeshore with the creation of a joint venture entity. This would even allow longtime land claimants to participate in the development and revenue generation, instead of being squeezed out of the picture.

The aim of the project is to create a new tourist, recreational and residential district that will spawn socioeconomic development in that part of the city, and turn Taguig’s shoreline into a travel destination. It is not difficult to envision a marina, sports and convention centers, environment-friendly golf courses, resorts and transport terminals, all just 15 minutes away from Bonifacio. LLDA general manager Jun Ynares has also made a point that the joint project will put to rest the issue whether the development and conservation of the environment can work together.

Most people assume that Fort Bonifacio is the side of Taguig that will spur development, but in the long run, we expect the lakeshore community to be just as important in our drive to become a world-class city.

^^ i'm curious though... how many terms has Freddie Tinga served as mayor?

^^ i'm curious though... how many terms has Freddie Tinga served as mayor?

I agree. He needs several terms to make the vision of transorming BGC and the rest of Taguig a reality.

It will give a better alternative to Makati.

:lol:

City by the Bay BY FREDDIE TINGA
http://www.manilastandardtoday.com/?...ice5_jan8_2007

I USED to be part of the Fort Bonifacio Development project.

If I remember right, I was the ninth or 10th employee hired. Being a junior member of the team, I was more involved in the smaller projects, rather than the mega-scale developments. It turns out that these unpretentious ventures would survive the Asian Crisis. There were grand schemes of a new World Trade Center and a Capital Place, which never got off the ground. In fact, the only thing left from the early days was “the Fort,” an interim entertainment center I worked on, meant to draw traffic to Bonifacio at the outset.

The Fort is only interim after all. I wonder what they are planning in that space!:lol:

well.. that corner of the City Center is supposedly for high-rise.. based on the masterplan...

The public art in the fort is funded by buyers of the lot. From what I remember there is a 1% fee that is paid on top of price to support the public art initiative. I think the things you see in high street may be part of this too,matter of accounting now, since the area in the middle of high street is public access.

if I only have my camera cable today.. I could have taken a shot of Manila Golf and load it...

a few minutes ago... due to dry soil on that side of Manila Golf that is being renovated and a strong wind is blowing... Manila Golf just looked like a place experiencing a sandstorm... and it's a big one!.... I could even see dust reaching our building here in Net Square... and earlier it has just engulfed the clubhouse..... Manila Golf should do something with it...

High court clears way for Jusmag land devt
By Rey E. Requejo
http://www.manilastandardtoday.com/?page=index
The Supreme Court has denied with finality a motion for reconsideration by the Southside Homeowners Association Inc. of the high court’s previous decision allowing the Bases Conversion Development Authority to take possession of the 35.5 hectare Jusmag property in Fort Bonifacio.

The resolution, handed down last Nov. 27, validated the high tribunal ruling dated Sept. 22, 2006, that reversed an earlier decision by the Court of Appeals and effectively cleared development of the property of all legal barriers. Earlier, the appeals court ruled in favor of the homeowners’ claim on the property.

In its two-page resolution, the high court noted that the basic issues raised by the petitioner have been “duly considered and passed upon by the Court,” and that no substantial argument was raised to grant the reconsideration.

“The [SC] decision bodes well for the Armed Forces [of the Philippines] as it will boost its modernization fund and the soldiers’ morale,” said Narciso Abaya, president and chief executive of the bases conversion agency.

Abaya filed a petition-in-intervention with the high tribunal during his stint as Armed Forces chief contesting a motion by the South Side Homeowners Association Inc., consisting of military officers occupying some areas of the Jusmag land. It was the first time an Armed Forces chief took a bold move against military officers “squatting in Fort Bonifacio.”

The bases conversion body said the Jusmag asset could command at least P50,000 per square meter of developed saleable land. BCDA’s revenues from the development could reach P5 billion.

The Armed Forces will get 35 percent of the government share in the sales proceeds. The funds are earmarked to bankroll the military’s modernization program.

Earlier, the Feliciano Commission, a special fact-finding body created to address concerns of soldiers implicated in the July 2003 Oakwood mutiny, recommended recovery of the Jusmag and Novai properties.

BCDA vice president for business development, Aileen Zosa, said preparations for the development of the area like surveying, titling and master planning, which is still largely a raw land could be undertaken in view of the SC resolution.

As part of its commitment to the Armed Forces, the BCDA would replicate first all the facilities in the Jusmag area in another site to be identified by the military before development begins.

Zosa said the development would possibly be implemented through a joint venture agreement with a private sector developer. “BCDA will put in the land, while a private developer will replicate the AFP facilities and then develop the area,” Zosa said.

She noted that the Jusmag property is ideal for mixed-use development, but for predominantly low density, high-end residential purposes, considering its proximity to posh South Forbes and Dasmariñas villages.

if I only have my camera cable today.. I could have taken a shot of Manila Golf and load it...

a few minutes ago... due to dry soil on that side of Manila Golf that is being renovated and a strong wind is blowing... Manila Golf just looked like a place experiencing a sandstorm... and it's a big one!.... I could even see dust reaching our building here in Net Square... and earlier it has just engulfed the clubhouse..... Manila Golf should do something with it...


must be quite a mess for those much closer to the golf course

The public art in the fort is funded by buyers of the lot. From what I remember there is a 1% fee that is paid on top of price to support the public art initiative. I think the things you see in high street may be part of this too,matter of accounting now, since the area in the middle of high street is public access.

I really like that concept that they had paid attention to promoting public art in the development of the area. It really builds up the aesthetics of the area. The sculptures I've seen so far are beautiful. I was wondering how they choose the commissioned artists.

^^It would also be a good way to show Filipinos that art is essential in one's life. Our museums are barely visited, very few Pinoys even care to glance at one and almost no recent Filipino has the prominence Amorsolo once had. We lack the drive to propagate art, unlike alot of European and even Asian nations.

Originally Posted by bustero
The public art in the fort is funded by buyers of the lot. From what I remember there is a 1% fee that is paid on top of price to support the public art initiative. I think the things you see in high street may be part of this too,matter of accounting now, since the area in the middle of high street is public access.

that's right. i've read something about this, if not from this forum, from newspaper hard print. i really like this idea. and these are unique pieces of art. makes it worth at least visiting the place if you can't afford a pricey residential unit.

It's equally rewarding to see those beautiful trees planted by the sidewalks growing taller and denser day by day. Even the heavens must be happy and bless it with rain at the right time.

It's equally rewarding to see those beautiful trees planted by the sidewalks growing taller and denser day by day.


yeah! full grown trees + art = beautiful BGC; not another concrete jungle :okay:

yes the tress and wide sidewalk is why i chosed BGC!

^^ i'm curious though... how many terms has Freddie Tinga served as mayor?


If he runs in the coming election, it will be his last and final term as mayor. I think he has this great vision of Taguig.... but his plans to develop the lakeside part of the city will just be a dream in the near term. He will have to spend a lot of political capital and tons of political will to make this a reality.

^^It would also be a good way to show Filipinos that art is essential in one's life. Our museums are barely visited, very few Pinoys even care to glance at one and almost no recent Filipino has the prominence Amorsolo once had. We lack the drive to propagate art, unlike alot of European and even Asian nations.

well.. after the Marcoses were ousted from Malacanang.. succeeding administrations failed to bring importance to appreciation of our arts and culture and even sports.... and that's very sad because Filipinos nowadays fail to appreciate anything local...

I hope that aside from the growing trees around BGC... is that they would develop flower gardens in the city... like that wide green space of Crescent Park West.... so that aside from the greens we can see other colors of nature.. :D

01.05.07 - Chancery for Singapore Embassy
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_070x.jpg

01.07.07
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010707_016x.jpg

01.05.07 - "Kasaysayan, Bawat Oras"
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_065x.jpg

01.07.07 - "Transformation" , my fave BGC art piece because the glass towers look like skyscrapers.
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010707_025x.jpg

01.05.07 - Bonifacio High Street (More pics to come!!!)

An art piece
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_017x.jpg

...from another angle
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_019x.jpg

Fountain
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_038x.jpg

Trellis and Tents
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_010507_024x.jpg

love what they have in the center of bonofacio high street, especially the sculpture

Thanks for the pictures!!!!! Ganda ng BGC.

Those are awesome pictures Aaron. BGC is turning out to be a modern art mecca, too. :okay:

for the Transformation art piece... I wish they have it lighted every night to make it stunning... well that goes with the rest of the public art in BGC..

Temporary , as in fillers lang ba yung 2 -level structures sa Bonifacio HS ? Parang mas okay kasi if stunning high skyscrapers will lined up that beautiful stretch .

someone wrote before that they will be temporary structures until more development comes in to upgrade them to taller structures...

someone wrote before that they will be temporary structures until more development comes in to upgrade them to taller structures...


yeah, i read about that too. though i think, from the amount of work that has been done at bonifacio high street, their temporary nature would extend to at least 5 years

Aaron, Thank you for the nice pictures!

Bonifacio High Street (and also Shops at Serendra) are nice places to hang out these days!

BTW, Figaro at Bonifacio High Street is already open. (Starbucks, Seattle's Best and Coffee Bean ---coming soon! So many coffee shops to choose from! ) :)

^^You have donuts (KK) and then you've got great coffee nearby. Isnt this combination one of the reasons why Americans are fat? Oh I hope the formula does not get copied by Pinoys.

^^You have donuts (KK) and then you've got great coffee nearby. Isnt this combination one of the reasons why Americans are fat? Oh I hope the formula does not get copied by Pinoys.

i don't think so. just to give an example... i was in the bonifacio high street & shops at serendra area the other night... there were very few people at KK (no need to wait in line before getting served!) BUT most of the restos at the shops at serendra were full! give us pinoys some credit for having good taste naman ;) :okay:

coffee isn't fattening. at least the way i take it... black.

anyway, i feel like such a moron. i never even noticed these art pieces at the fort. except maybe for the fishermen thing. i rarely notice things like that but when i do... it's awesome. like those jade sculptures by pilapil. pretty. props to bgc for having art around.

coffee isn't fattening. at least the way i take it... black.

anyway, i feel like such a moron. i never even noticed these art pieces at the fort. except maybe for the fishermen thing. i rarely notice things like that but when i do... it's awesome. like those jade sculptures by pilapil. pretty. props to bgc for having art around.

Hopefully... Marami pang icoconstruct na public art pieces sa BGC. Metro Pacific had a good vision of public art in its masterplanning. And it was carried on with Ayala and Campos buying into FBDC.

I like the fisherman throwing out the net because it is very Filipino. I hope may kalabaw pa and nagtatanim at nag aani na magsasaka. The public art pieces should reflect our culture. And Im happy that we have Filipino as well as modern art pieces existing in BGC.

It makes me smile to see an appreciation for all that work in BGC. They make a statement that pays tribute to Filipino culture, while at the same time using abstract and nonrepresentational art to express certain ideals. Plus, the art helps to prevent a lack of humanity in the city.

Does Ben Chan also own Loalde?

@sinj
LOALDE is local brand from Cebu. "LO" is from the family name of the wife-owner and "ALDE" is from Aldeguer, thus, LOALDE. same owner of Island Souvenirs and Wacky brands.

i don't think so. just to give an example... i was in the bonifacio high street & shops at serendra area the other night... there were very few people at KK (no need to wait in line before getting served!) BUT most of the restos at the shops at serendra were full! give us pinoys some credit for having good taste naman ;) :okay:

That's good then. We don't want ourselves to turn pigs just because some old proon decided to invest in bringing the donuts that made America fat to the Philippines. And judging by what you said and what I think is right. Donuts and gourmet coffee won't be a big hit to Filipinos, we already have Tapsilog, longsilog, cornsilog, tuyo at pritong itlog, pandesal na may palaman, mamon tostado, hotdog, black coffee, corned beef, among others as our ultimate breakfast meals. Mas masarap at katanggap-tanggap sa health pa,

@sinj
LOALDE is local brand from Cebu. "LO" is from the family name of the wife-owner and "ALDE" is from Aldeguer, thus, LOALDE. same owner of Island Souvenirs and Wacky brands.

Yep, my dad explained that to me a few weeks ago when we passed by their plant/factory in Mandaue ;)

Makati rents hit pre-crisis levels
BusinessWorld, RAMR

Office rental rates in the Makati central business district returned to pre-financial crisis levels in the last quarter of 2006, bolstering rosy outlooks for the property sector altogether.

Next to Makati, rates at the Bonifacio Global City E-Square were at P650 per square meter per month, followed by Eastwood City at P550 per square meter per month. The likes of Araneta Center, UP-Ayala Science & IT Park, Bay City, and McKinley Hill, meanwhile, were commanding P500 per square meter per month. Grade A properties in Ortigas could be had for P350-475 per square meter per month while at Northgate Cyberzone the rate was P490-525 per square meter per month.

"Fort Bonifacio is the market favorite. It has a lot of strong points. While it is closest to Makati, its land values are realistically priced; there is a 50% differential between land values between Makati and Fort Bonifacio. In some cases, the gap is smaller at 30% depending on which part of Fort Bonifacio and Makati you are talking about.

"Also, its infrastructure is better than anyone else ... the politics is less, you are not in a rally zone," Mr. Leechiu said.


complete article at http://www.bworldonline.com/

Next to Makati, rates at the Bonifacio Global City E-Square were at P650 per square meter per month, followed by Eastwood City at P550 per square meter per month. The likes of Araneta Center, UP-Ayala Science & IT Park, Bay City, and McKinley Hill, meanwhile, were commanding P500 per square meter per month. Grade A properties in Ortigas could be had for P350-475 per square meter per month while at Northgate Cyberzone the rate was P490-525 per square meter per month.

"Fort Bonifacio is the market favorite.

complete article at http://www.bworldonline.com/



So Ortigas is now a laggart?

So Ortigas is now a laggart?

I think you are right in terms of office rental rates. What is driving the real estate boom in the Philippines right now is the BPO's need for more office space. They are willing to pay a higher premium on newly constructed buildings which are more efficient and well suited specifically to their needs.

Here are interesting links: http://www.wdi.umich.edu/Resources/1145/

http://www.itmatters.com.ph/news.php?id=122805a

matindi na nga asking price nang mga grade AAA buildings dito sa makati.. Family First (Berkley) had to moved out sa Enterprise kasi sobrang laki na ang hinihingi.. parang 1,000 per sqm na sabi nya sa akin.. sobra nang mahal! :bash:

http://img.photobucket.com/albums/v739/dxpsycho/fountain.jpg
Fountain at Bonifacio High Street
Photo by Josh Cruz (http://www.trekearth.com/members/noogy/)

^ Stunning photo! :cool: So I assume that the Bonifacio High Street doesn't eat a part of the pie of Market! Market! since it's target are the corporate warriors and young professionals in BGC right?

So Ortigas is now a laggart?

I don't think that Ortigas will be a laggart in terms of 2nd CBD for BPO operation. If the current prevailing market price of BGC is around P 650 per sq.m. only a handful BPO will try to move in this place. What attract a BPO relocator is not only newly built building but the cost of telecom infrastructure where they operate. BGC at the moment as I understand is exclusive to duopoly telecom company which mean cost of operating a call center here will be much expensive and limited.

ganda ng pic... sarap titigan... na capture ako sa mga palm trees... :)

Anu yung nasa pic ng High Street Fountains? Infinity pool na may butas sa tabi????

that's great new for BGC! again i hope they will keep the FAR that currently exisits. i hate to see traffic jam like makati in the future.

ganda ng pic... sarap titigan... na capture ako sa mga palm trees... :)

yeah...nothing more graceful than a healthy plummage of a palm tree.

Biyernes, Enero 19, 2007 10:31

BCDA set to finalize plans for 2 properties Thursday, January 18 2007 @ 10:52 AM GMT



The state-owned Bases Conversion and Development Authority (BCDA) is set to finalize development plans for two real estate properties within the Fort Bonifacio reservation it has recovered by virtue of two court rulings.

BCDA president and CEO Narciso Abaya announced that the two areas --the 35.5-hectare JUSMAG area and the nearby 47.5-hectare Navy Village- will turn into a beehive of economic activities after they are fully developed through a joint venture with a private company.

Abaya added that the AFP will greatly benefit from the development of the properties. Under RA 7917, 35 percent of sale or 50 percent of lease proceeds of Fort Bonifacio property disposed under the stewardship of BCDA will go to the AFP Military Modernization Fund.

BCDA vice president for business development Aileen Zosa noted that the properties are "ideal for mixed-use development, with low to medium density, high-end residential units."

Zosa said many developers have already expressed interest in acquiring the JUSMAG property.

"Top developers Ayala Land Inc. (ALI), Fort Bonifacio Development Corporation (FBDC), Megaworld and Robinsons Land have already expressed their keen interest in the JUSMAG property," she revealed.

Zosa said ALI and FBDC, as well as Megaworld, are keen on acquiring the JUSMAG property as it is strategic to the adjacent properties they are now developing like the Bonifacio Global City and McKinley Hills, respectively.

"We expect more developers to express their interest once we formally put it up on the market probably next year," Ms. Zosa said.

In a two-page resolution handed down last Nov. 27, the Supreme Court (SC) affirmed its Sept. 22, 2006 verdict and denied with finality the motion for reconsideration filed by the Southside Homeowners' Association Inc. (SHAI).

The SC decision reversed an earlier finding by the Court of Appeals (CA) favoring the SHAI.

Another case, the Court of Appeals (CA) tossed out an earlier judgment by a Regional Trial Court favoring the settlers, and declared as null and void the owner's title in the name of Navy Officers Village Association, Inc. (NOVAI). (PNA)


http://biz.balita.ph/html/article.php/20070118105259230

These photos of Bonifacio High Street were taken Jan 15, 2007.

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_0709.jpg

Mini-Shabu-Shabu ---Hey, they DO NOT sell shabu here! (ie, shabu, the drug! ) . Will try this (the food!) one of these days! :lol:

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_0708.jpg

Some of the shops which will open soon at Bonifacio High Street....

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_0712.jpg

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_0710.jpg

Bonifacio High Street ---great place for strolling! The yellow building at the background is One Serendra.

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/IMG_0711.jpg

^ Another addition to the prestigious Ayala Malls brand :yes:

very nice! so excited to see it this July! Just a commnet, i wish they planted a type of tree that have more folilage for shading.

yeah...definitely more trees need to be planted. Also i noticed that the pavements were made of plain cement concrete as opposed to a tile walkway.

yeah...definitely more trees need to be planted. Also i noticed that the pavements were made of plain cement concrete as opposed to a tile walkway.

right. they shouldve put tiles instead. put a little european feel to it :)

What sort of stores are set to open at Bonifacio High Street? Ayala needs to make a website for this listening all the stores and restaurants, or do they already have one?

What sort of stores are set to open at Bonifacio High Street? Ayala needs to make a website for this listening all the stores and restaurants, or do they already have one?

Hello flymordecai!

Please check out the list of the stores/establishments which I posted in this thread:

http://www.skyscrapercity.com/showthread.php?t=404967&page=20

P.S. Sorry, Ayala did not list these stores in their website.

yeah...definitely more trees need to be planted. Also i noticed that the pavements were made of plain cement concrete as opposed to a tile walkway.

Yes, it could've been better if they used tiles-- will make it more classy. (On the point of view of a developer, when it comes to developments, the hardest and trickiest part is balancing "beauty" with "cost".)

A breath taking view of the Bonifacio High Street at night! This nice view can be seen from the Penhurst Parkplace and Kensington Place (BTW, both condos are based on the Build-To-Own (BTO) concept.) Isn't that cool?

At the background is the Serendra condo development.

Note: Picture courtesy of Gibson Yu of G&W Architects.

http://i71.photobucket.com/albums/i143/cynchyap/BGC-2007/P1000337.jpg

Ang ganda ng BCG..

so tapos na pala yung new grid streets sa new masterplan

Serendra looks nice from behind :)

for a global city...aren't the streets narrow? if this area does become the premier city of the country, not sure how it would handle traffic and the gridlocks?

How wide should streets be in a global city? Based on photos of BGC posted I can see that most of the streets there are 2-lane, each direction. Here in San Francisco, it's the same (except for the major ones that have more than 2 lanes for each direction). I guess if they implement an effective traffic scheme, and people are encouraged to take mass transportation then BGC's traffic should be fine. Hopefully, they'll have their own mass transportation system in the future.

well... BGC was envisioned to be more transit oriented rather than a car-infested center isn't it... that's why they also have a few lots designated as parking spots...

Hi... newbie here :hi:

I thought of posting a pic. This was taken from our room at the Intercon Makati last weekend. Sorry, camphone lang, tsaka madumi yung bintana hehe.

I'm not really an expert on architecture and all that technical stuff. I just appreciate...uh.. development.

I've been a lurker for some time now, so I've seen and read a lot of stuff. And I do hope my stay here will be enjoyable and peaceful.

http://i136.photobucket.com/albums/q179/asph80/globct.jpg

Mukhang hinde ganun kaganda ang design ng Serendra. Mukhang BLISS ng konti yung design.

Serendra's design is simple but elegant..:)

Hi... newbie here :hi:

I thought of posting a pic. This was taken from our room at the Intercon Makati last weekend. Sorry, camphone lang, tsaka madumi yung bintana hehe.

I'm not really an expert on architecture and all that technical stuff. I just appreciate...uh.. development.

I've been a lurker for some time now, so I've seen and read a lot of stuff. And I do hope my stay here will be enjoyable and peaceful.

http://i136.photobucket.com/albums/q179/asph80/globct.jpg

Hey, welcome kid! That's a cool pic you have there. In a few years, you'll need a more panoramic shot to fit the whole Bonifacio skyline!

Hi everyone! Here's my contribution to the growing collectin of BGC High Street photos:

http://farm1.static.flickr.com/128/364535012_356e3f59dc.jpg

Hey, welcome kid! That's a cool pic you have there. In a few years, you'll need a more panoramic shot to fit the whole Bonifacio skyline!

Kid?!?!?:lol: I'll let that go

Thanks for the welcome! Hopefully I'd get pics of Makati soon. I work at RCBC Plaza, maganda rin ang views dun

I just noticed a few minutes ago that Fort Bus has acquired to new buses.. I'm not sure if they're addition to their fleet or replacements for Bus #001 and #003..

the two buses that we saw are bigger than what they originally have and very new and is colored with the new Bonifacio Global City logo... they are good additions to their buses specially now that more and more people are riding them....

Kid?!?!?:lol: I'll let that go

Thanks for the welcome! Hopefully I'd get pics of Makati soon. I work at RCBC Plaza, maganda rin ang views dun

Most likely, I AM younger than you are.:lol:

^^ It's not "most likely", it should be "it's likely". :colgate:

@basti: Cool pic of the BGC skyline you got there. Where were you when you took that photo? Welcome, BTW.:)

@fwh buyer: Welcome din.:)

I've seen the buses in the parking lot. Am glad they're addressing the current problem of FortBoni which is accesibility for the commuting public. Somebody post a pix.

http://www.bworldonline.com/Weekender012607/photos/focus.jpg

The next big thing

W ith its bohemian vibe and mix of clubs and small restaurants serving different cuisines, Malate was the place to go to several years ago.

When new developments at the Ayala Center in Makati started picking up, people began flocking to that area. For a while, the restaurants at the Rockwell Mall as well as those at The Fort in Taguig became the next two "in" places but Manilans are a fickle lot and it would only be a while before people with money to spend and a desire to sample whatever was new would relocate, so to speak.

That area now is Serendra and the still largely unoccupied Bonifacio High Street at Bonifacio Global City in Taguig. For the record, Bonifacio Global City is a project of the Fort Bonifacio Development Corp. (FBDC) backed by a partnership between Ayala Land, Inc. and Evergreen Holdings, Inc. (owned by the Campos Group of Companies).

During the launch of Serendra last October, few restaurants were open and the storefronts on the second level were still boarded up.

Serendra now

Now, the area is bustling with activity. Practically all the restaurants are doing brisk business and depending on which restaurant you’re planning to have lunch or dinner, it’s best to call first and make a reservation.

There’s more to new dining options, however, at Serendra. A Different Bookstore has opened a spacious two-level store and café while the second level houses a selection of stores and several art galleries. The residences atop the retail and commercial areas still have to be finished but the target date for the completion of the first phase is by the end of the year.

Source (http://www.bworldonline.com/Weekender012607/index.php)

Serendra and High Street are the in place to go. Its the place to be. And there's so many choices to go to. Ganda talaga.

And it seems like BGC is attracting a lot of investors. Hope may mag locate na hotel na soon.

http://farm1.static.flickr.com/182/369866314_b625cdcad8.jpg?v=0
Fort Bonifacio Global City through the early morning sunlight. January 24 2007. by erik lacson

Bonifacio Global City™, located in the progressive city of Taguig, is a project of Fort Bonifacio Development Corporation (FBDC), backed by a partnership of two of the country's most reputable names in real estate development.

In April 2003, Ayala Land, Inc. and Evergreen Holdings Inc. of the Campos Group of Companies completed the acquisition of a controlling interest in FBDC. Together with the Bases Conversion Development Authority (BCDA) as major partner in FBDC, they now shape the vision of this premier business district.

Ayala Land provides its expertise in pioneering and sustaining successful business districts and large-scale integrated communities, starting with the Makati Central Business District. The Campos group lends it financial acumen and experience in real estate development. BCDA ensures total commitment to the land and guadianship of the property. Together, the partners have strengthened FBDC's financial stability and have provided a sustainable vision of the future.

Fort Bonifacio Global City and Taguig City - Thread 8

http://i16.tinypic.com/3ymd0fk.jpg
1 (http://www.skyscrapercity.com/showthread.php?t=248845)| 2 (http://www.skyscrapercity.com/showthread.php?t=261996)| 3 (http://www.skyscrapercity.com/showthread.php?t=261991)| 4 (http://www.skyscrapercity.com/showthread.php?t=313428)| 5 (http://www.skyscrapercity.com/showthread.php?t=375859)| 6 (http://www.skyscrapercity.com/showthread.php?t=375454)| 7 (http://www.skyscrapercity.com/showthread.php?t=404967)

Wow, what a great pic there.

^ Yep despite its small size, it still somehow shows the construction boom currently going on at the FBGC :okay:

I wouldn't call that small now... It's already bigger than some (not so)major cities. :)

^ No, I was pertaining to the photo when I said small size :D

Oh. But I still wouldn't call it small! It's fine. :D

Hey, I know the photographer! His flickr site is here if you are interested in seeing more photos:
http://www.flickr.com/photos/straylite

http://farm1.static.flickr.com/182/369866314_b625cdcad8.jpg?v=0
Fort Bonifacio Global City through the early morning sunlight. January 24 2007. by erik lacson

Bonifacio Global City™, located in the progressive city of Taguig, is a project of Fort Bonifacio Development Corporation (FBDC), backed by a partnership of two of the country's most reputable names in real estate development.

In April 2003, Ayala Land, Inc. and Evergreen Holdings Inc. of the Campos Group of Companies completed the acquisition of a controlling interest in FBDC. Together with the Bases Conversion Development Authority (BCDA) as major partner in FBDC, they now shape the vision of this premier business district.

Ayala Land provides its expertise in pioneering and sustaining successful business districts and large-scale integrated communities, starting with the Makati Central Business District. The Campos group lends it financial acumen and experience in real estate development. BCDA ensures total commitment to the land and guadianship of the property. Together, the partners have strengthened FBDC's financial stability and have provided a sustainable vision of the future.

Fort Bonifacio Global City and Taguig City - Thread 8

http://i16.tinypic.com/3ymd0fk.jpg
1 (http://www.skyscrapercity.com/showthread.php?t=248845)| 2 (http://www.skyscrapercity.com/showthread.php?t=261996)| 3 (http://www.skyscrapercity.com/showthread.php?t=261991)| 4 (http://www.skyscrapercity.com/showthread.php?t=313428)| 5 (http://www.skyscrapercity.com/showthread.php?t=375859)| 6 (http://www.skyscrapercity.com/showthread.php?t=375454)| 7 (http://www.skyscrapercity.com/showthread.php?t=404967)

went to shops @ serendra as well as at boni high street, here's what i took:
http://i58.photobucket.com/albums/g278/glennbp/IMG_0817.jpg
http://i58.photobucket.com/albums/g278/glennbp/IMG_0818.jpg
http://i58.photobucket.com/albums/g278/glennbp/IMG_0819.jpg
http://i58.photobucket.com/albums/g278/glennbp/IMG_0808.jpg

^^ Really nice. The place looks very promising indeed.

wow! nice pics guys! its getting very busy over there in FBGC.
btw, sinjin maka chiz escudero ka pla,heheh. kewl!

very nice! thanks for the pics gridlock! do you happend to have any pics of serendra?

Thanks for the pictures of High Street Gridloc.

Nice Update.

Really neat looking at it without sphagetti powerlines. Only if they could do this in Ortigas too :(

I can already imagine those Palm Trees at HighStreet would look gorgeous as years pass

:)

http://img167.imageshack.us/img167/7858/59744583he5.jpg

How tall are the skyscrapers going to be?

http://img.photobucket.com/albums/v739/dxpsycho/377791032_27ec3897d6_b.jpg
SOMA and Serendra U/C | Photo by impulse101 from flickr

http://img.photobucket.com/albums/v739/dxpsycho/377791032_27ec3897d6_b.jpg
SOMA and Serendra U/C | Photo by impulse101 from flickr


hey, wow thanks for posting! this is a seldom seen angle of Two Serendra and SoMa :okay:

very nice! thanks for the pics gridlock! do you happend to have any pics of serendra?

yup its at the serendra thread.:)

Shucks world class na world class ang look ng FBGC, based sa photos ni gridloc which are beautiful by way! The photos remind me of LA, not that I'm saying that FBGC is trying to be copycat, what I'm saying is that our cities could definitely rival the world's most revered.

Court rejects claim of Boni squatters
By Rey E. Requejo
http://www.manilastandardtoday.com/?page=police1_feb1_2007
Some 20,000 squatter families have to ship out after the Supreme Court ruled that the ownership of the land they claimed in Fort Bonifacio had reverted to the state in 1958.

In a 19-page decision penned by Associate Justice Presbitero Velasco, the Second Division “dismissed for lack of merit” the suit of Samahan ng Masang Pilipino sa Makati Inc. against the Bases Conversion Development Authority.

Associate Justices Leonardo Quisumbing, Antonio Carpio and Conchita Carpio Morales concurred with the ruling. Associate Justice Dante Tinga took no part due to close association with one of the parties.

The group was seeking a restraining order from the high court, which under Republic Act 7227, the BCDA Law, had the sole jurisdiction over injunction cases against the authority.

The city government of Taguig was impleaded as respondent because it had sent 30-day notices of eviction to the members.

Records showed that the property was part of the 2,544 hectares of Fort Bonifacio then known as Hacienda Maricaban, and was originally titled to the United States government which ran Fort William McKinley during the colonial regime.

The three areas where the evictees have set up houses— Lot 1, Lot 3 and Lot 4—were originally part of a military reservation for the Philippine Light Armour Regiment, Vetronix and the Logistics Command.

The group argued that the authority could not eject its members since the US owned it and any action must comply with the so- called “Lina Law” or the Republic Act 7279 that required a suitable alternative home site for informal urban settlers before an order of eviction is enforced.

In rejecting the appeal, the high court said that “a close scrutiny of the records at hand shows that the petitioner’s members have not shown a clear right... to retain possession of the parcels of land they are occupying inside Fort Bonifacio.”

The Court upheld the view that the title in the name of the US covering Fort Bonifacio was canceled by a subsequent title on Sept. 11, 1958 in the name of the Republic of the Philippines.

“BCDA has valid titles over Fort Bonifacio which have become indefeasible and beyond question. On the other hand, SMPPMI has not presented any title or deed to demonstrate ownership or any interest in the subject lots,” the high tribunal said.

The SC said Executive Order 70 has directed the authority to ensure the smooth turnover of certain lots to the Housing and Urban Development Coordinating Council for socialized housing.

http://img167.imageshack.us/img167/7858/59744583he5.jpg

How tall are the skyscrapers going to be?

what a bad 3d rendering.....i would expect a better one :ohno:

yeah.. but at least we can get a sort of look and feel of how that place will be in the future... unfortunately they depicted it to have mid-rises..

hopefully the view from my unit at the 10th floor wont be blocked when they start building parallel to the bonifacio high street and 11th avenue

yeah.. but at least we can get a sort of look and feel of how that place will be in the future... unfortunately they depicted it to have mid-rises..

The Fort Boni site was recently revamped... there's a video in the website on how the development shall look like... : http://www.bonifacioglobalcity.ph/ ...
To check the video, click "Complete Cosmopolis," then click "The City Center Zones: Green At Heart," then a pop up shall sprung up... find the button video then click it in the pop-up... it seems the far for the City center can only go as far as 24 stories....

The Fort Boni site was recently revamped... there's a video in the website on how the development shall look like... : http://www.bonifacioglobalcity.ph/ ...
To check the video, click "Complete Cosmopolis," then click "The City Center Zones: Green At Heart," then a pop up shall sprung up... find the button video then click it in the pop-up... it seems the far for the City center can only go as far as 24 stories....


24 stories isn't quite accurate as it will depend on the lot size as well as how big the foot print will be... it's FAR 12 to 15 for the City Center lots... http://www.fbdcorp.com/08_prime01.htm

^^yup, Pacific Plaza actually stands on FAR 8, yet they're over 40 stories tall, depends on how you use the density.

I found this at a website, but I do not recall if this was already posted in previous threads. This is a rendering for the former design of BGC.

http://www.hoksustainabledesign.com/Projects/49EC5DDD-FFFC-4DA6-9390-6AD209F0BC93/projimages/mouseover1_3.jpg

http://www.hoksustainabledesign.com/Projects/49EC5DDD-FFFC-4DA6-9390-6AD209F0BC93/projimages/mouseover1_6.jpg

http://www.hoksustainabledesign.com/Projects/49EC5DDD-FFFC-4DA6-9390-6AD209F0BC93/projimages/mouseover1_5.jpg
http://www.hoksustainabledesign.com/Projects/49EC5DDD-FFFC-4DA6-9390-6AD209F0BC93/projimages/mouseover1_9.jpg

^^ imo, the current bonifacio high street turned out better than that

Bump...
Any new FBGC updates/pics to share? :)


Here's what I found in the Net...
http://biz.balita.ph/html/article.php/20070118105259230

BCDA set to finalize plans for 2 properties in Fort Bonifacio


The state-owned Bases Conversion and Development Authority (BCDA) is set to finalize development plans for two real estate properties within the Fort Bonifacio reservation it has recovered by virtue of two court rulings.

BCDA president and CEO Narciso Abaya announced that the two areas --the 35.5-hectare JUSMAG area and the nearby 47.5-hectare Navy Village- will turn into a beehive of economic activities after they are fully developed through a joint venture with a private company.

Abaya added that the AFP will greatly benefit from the development of the properties. Under RA 7917, 35 percent of sale or 50 percent of lease proceeds of Fort Bonifacio property disposed under the stewardship of BCDA will go to the AFP Military Modernization Fund.

BCDA vice president for business development Aileen Zosa noted that the properties are "ideal for mixed-use development, with low to medium density, high-end residential units."

Zosa said many developers have already expressed interest in acquiring the JUSMAG property.

"Top developers Ayala Land Inc. (ALI), Fort Bonifacio Development Corporation (FBDC), Megaworld and Robinsons Land have already expressed their keen interest in the JUSMAG property," she revealed.

Zosa said ALI and FBDC, as well as Megaworld, are keen on acquiring the JUSMAG property as it is strategic to the adjacent properties they are now developing like the Bonifacio Global City and McKinley Hills, respectively.

"We expect more developers to express their interest once we formally put it up on the market probably next year," Ms. Zosa said.

In a two-page resolution handed down last Nov. 27, the Supreme Court (SC) affirmed its Sept. 22, 2006 verdict and denied with finality the motion for reconsideration filed by the Southside Homeowners' Association Inc. (SHAI).

The SC decision reversed an earlier finding by the Court of Appeals (CA) favoring the SHAI.

Another case, the Court of Appeals (CA) tossed out an earlier judgment by a Regional Trial Court favoring the settlers, and declared as null and void the owner's title in the name of Navy Officers Village Association, Inc. (NOVAI). (PNA)

From Businessworld Online
By KRISTINE L. ALAVE, Reporter

People Support buys Taguig lot for 25-storey call center building

American business process outsourcing provider PeopleSupport Philippines, Inc. has acquired a 2,700-square meter lot in Taguig from the Fort Bonifacio Development Corp. (FBDC) as part of its plan to expand its operations in the country.

Company President Rainiero Borja said the property will house a 25-storey call center building.

The company bought the property last January from the FBDC, a joint venture between the Bases Development and Conversion Authority and Ayala-Campos group.

Officials did not say how much the property cost, but Mr. Borja said PeopleSupport, through subsidiary PeopleSupport Properties, Inc., has allotted a total of $6.8 million for the project.

PeopleSupport expects to break ground this year, Mr. Borja said.


complete stroy at http://www.bworldonline.com/BW021407

02.09.07

...sa gitna ng disyerto
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_008x.jpg
sa gitna ng BGC pala! :D Akala ko disyerto kasi tanghaling tapat at para akong piniprito sa ilalim ng araw, ang init, p*tcha!!!

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_009x.jpg

City by the Bay
BY FREDDIE TINGA
http://www.manilastandardtoday.com/iserver?page=police5_jan8_2007

I USED to be part of the Fort Bonifacio Development project.

If I remember right, I was the ninth or 10th employee hired. Being a junior member of the team, I was more involved in the smaller projects, rather than the mega-scale developments. It turns out that these unpretentious ventures would survive the Asian Crisis. There were grand schemes of a new World Trade Center and a Capital Place, which never got off the ground. In fact, the only thing left from the early days was “the Fort,” an interim entertainment center I worked on, meant to draw traffic to Bonifacio at the outset.

One of the issues we were looking at the time was that if the enterprise were truly to become a world-class development, the surrounding area had to be developed as well. Thus, a masterplan was conceived not only for Fort Bonifacio but for the rest of Taguig.

The renowned planning firm Helmuth, Obata and Kassabaum was hired to do just that, which started by explaining to us that to build a truly great city you needed three elements.

Requirement no. 1—a world-class Central Business District. Fort Bonifacio Global City is fast on its way to achieving this status, and easily poised to become the country’s financial hub in the next decade.

Requirement no. 2—access to the international community. This means having an international airport within your boundaries or at least nearby. Terminal-3 (it will open someday, right?) across the Villamor/Sales bridge makes Taguig the most strategic metro area in the country.

Requirement no. 3—an international grade tourism and recreation section to make the city a complete place to live, work and play in. Taguig has just the location for this.

Laguna de Bay is the largest lake in the Philippines and the largest inland freshwater lake in Southeast Asia. It is shaped like a stylized “W,” with two peninsulas jutting out from the northern shore. The huge body of water drains into Manila Bay through the Pasig River. The entire eastern side of Taguig faces Laguna de Bay, giving us a lakeshore area of around a thousand hectares for development. But developing it has long been a touchy issue.

Because of the problems facing and threatening the potential of the lake, then President Marcos signed into law Republic Act 4850 creating the Laguna Lake Development Authority. The agency was tasked to develop and protect the lake, which according to the law, was the area covered by water at its average annual maximum 12.50-meter elevation, including lands located at and below such level that are public lands which form part of the lake bed.

This created a lot of ownership issues for those working and living along the lake. Fields which had been tilled and harvested by families for generations, were suddenly not theirs anymore. Even large tracts of land that were in the interior of Taguig, that had been in the possession of longtime residents, could not be titled because they were supposedly below the lake’s maximum level of elevation. Add to this confusion Taguig’s charter, which allows the city to reclaim and develop its foreshore.

Because of these issues and problems, the proper development and conservation guidelines became difficult to implement. Illegal rights were sold to greedy or ignorant speculators. Fake titles circulated, some of which even covered the lake waters itself. Informal settlements started proliferating, following the general principle in this country where houses—rather than face the lakeshore’s view—turn their backs on it so they can dump their refuse in the lake without anybody seeing.

Hopefully, recent developments will make these problems a thing of the past. Rather than continue this decades-long fight with the agency on ownership issues and development rights, we have agreed to co-develop the lakeshore with the creation of a joint venture entity. This would even allow longtime land claimants to participate in the development and revenue generation, instead of being squeezed out of the picture.

The aim of the project is to create a new tourist, recreational and residential district that will spawn socioeconomic development in that part of the city, and turn Taguig’s shoreline into a travel destination. It is not difficult to envision a marina, sports and convention centers, environment-friendly golf courses, resorts and transport terminals, all just 15 minutes away from Bonifacio. LLDA general manager Jun Ynares has also made a point that the joint project will put to rest the issue whether the development and conservation of the environment can work together.

Most people assume that Fort Bonifacio is the side of Taguig that will spur development, but in the long run, we expect the lakeshore community to be just as important in our drive to become a world-class city.



________________________________




Btw here's some Boni High Street pics courtesy of Mitch originally posted in the Serendra Thread.
Hi everyone! So sorry I haven't been visiting, been swamped with work ;) Anyway, I'm so not sure if I should be posting these pics of Bonifacio High Street, or they might've been posted to other BGC threads, but maybe just to add excitement at the lifestyle of Serendra I hope the mods will allow me :) These are pictures taken from my cam phone when we had a quick working merienda at krispy kreme just before the meetings -

http://img171.imageshack.us/img171/3478/01172007189oq3.jpg (http://imageshack.us)

http://img295.imageshack.us/img295/6816/01172007190ej0.jpg (http://imageshack.us)

http://img178.imageshack.us/img178/5093/01172007191ej6.jpg (http://imageshack.us)

http://img523.imageshack.us/img523/283/01172007192dw6.jpg (http://imageshack.us)

http://img296.imageshack.us/img296/8273/01172007193kx3.jpg (http://imageshack.us)


This is the part facing 11th Ave of Serendra walking towards Forbestown.


The next social hub, indeed. ;) Uy regards to everyone. :)

the new fort bus..

http://i29.photobucket.com/albums/c277/patok/FBGC/Fbus1.jpg

http://i29.photobucket.com/albums/c277/patok/FBGC/Fbus2.jpg

http://i29.photobucket.com/albums/c277/patok/FBGC/Fbus3.jpg

^^ nice! thanks for posting the pictures, Erwin :)


check out the FBGC bus routes here http://www.fbdcorp.com/05_citythatworks05.htm

02.09.07

The latest Bonifacio High Street art piece, still in the works...

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_016x.jpg

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_015x.jpg

meron kaya yung bus na "STOP REQUESTED"

BHS with SOMA in the background:
http://i58.photobucket.com/albums/g278/glennbp/IMG_0887.jpg


BHS pics:
http://i58.photobucket.com/albums/g278/glennbp/IMG_0890.jpg
http://i58.photobucket.com/albums/g278/glennbp/IMG_0888.jpg
http://i58.photobucket.com/albums/g278/glennbp/IMG_0884.jpg
http://i58.photobucket.com/albums/g278/glennbp/IMG_0894.jpg

the new fort bus..

http://i29.photobucket.com/albums/c277/patok/FBGC/Fbus1.jpg

http://i29.photobucket.com/albums/c277/patok/FBGC/Fbus2.jpg

http://i29.photobucket.com/albums/c277/patok/FBGC/Fbus3.jpg

Free ba ang ride? How pedestrian friendly :)

^^ May libre pa ba ngayon?!?!?! ...PhP 10.00

^^ May libre pa ba ngayon?!?!?! ...PhP 10.00

Meron, in some cases. :lol:

^^ Meron nga pero konti na lang. But I must say the best guys, I mean the best things in life are free. :D

^^ Meron nga pero konti na lang. But I must say the best guys, I mean the best things in life are free. :D

All transportation in Downtown Portland is free. Pati ang parking free. Not like Seattle. :D

GREEEEAAATTT PICS GUYS! :eek:

^^Are you serious? :eek: Free transportation and parking! Awesome!

^^ Yep. And if you have an electric car, the electricity is free. :lol:

All transportation in Downtown Portland is free. Pati ang parking free. Not like Seattle. :D

GREEEEAAATTT PICS GUYS! :eek:

That's wonderful! Where else can we get FREE these days? The citizen's taxes making it exit's somehow. Nevertheless, it's a great deal!

02.09.07

...sa gitna ng disyerto
http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_008x.jpg
sa gitna ng BGC pala! :D Akala ko disyerto kasi tanghaling tapat at para akong piniprito sa ilalim ng araw, ang init, p*tcha!!!

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_009x.jpg

What do N2, B2, B1, N3 stand for?

Net Square, Bellagio 2, Bellagio 1, and Net Cube, respectively

^ Cool names. The owner/operator of those Net Buildings might love Math :lol:

^ Cool names. The owner/operator of those Net Buildings might love Math :lol:

yup! coz he's obviously cashing in on the NETs :lol:

^^ Very witty Lauren. :lol:

Net Square, Bellagio 2, Bellagio 1, and Net Cube, respectively

Thanks again Paul. Always to the rescue. :)

Double-digit growth for residential sector
By Tessa Salazar
Inquirer
http://business.inquirer.net/money/breakingnews/view_article.php?article_id=41865


THE YEAR 2006 has shaped up as a significant year for the Philippine property sector, realizing analysts’ predictions that it would double the five percent growth the industry registered in 2004, basically due to the increasing demand for both housing and condominium sectors.

Eric Soriano, ERA Philippines’ country president and CEO, said that the “optimism” on hitting double-digit growth in real estate covered the residential segment in selected growth areas.

“By way of consistent demand, double-digit growth is currently being experienced at the Global City where a building frenzy is taking place,” Soriano says.

“Almost every street zoned as residential district has a condominium under construction, about to be completed or being boarded up signaling some form of groundbreaking. The beehive of activity has extended to Mckinley Hill where a slew of residential and custom-built BPO (business process outsourcing) developments are under construction,” he adds.

Kit Vergara, vice president of Philtown Marketing, echoes what most industry experts say that 2006 was the third year of a seven-year positive cycle. He adds that because the strength was fueled mostly by Filipinos residing abroad, high-rise residential condominiums as well as office developments buoyed by continued BPO strength were “very strong.”

Says Crown Asia president Jerry Navarette: “Philippine real estate has enjoyed its best time for the last two years, with the industry growing by doubling its figures in 2006, recovering from a slight stall in 2005.”

Growth areas

Soriano says significant growth was recorded in the residential segment, especially vertical residential buildings in growth areas like Fort Bonifacio, Eastwood City and Alabang.

He says that growth in horizontal developments has been consistent, primarily driven by real demand and OFW markets.

Navarette says: “The residential segment of real estate has gained tremendous growth driven by the increase in demands, both locally and from OFWs, for the housing sector and mainly for the vertical sector.”

Vergara credits a stronger demand from overseas Filipinos through local developers’ roadshows abroad. Philtown had three roadshows in 2006, most of them in the US West Coast, where a big percentage of the Fil-Ams are.

“Also, as the real estate market weakened in the United States, US-based Filipinos looked to other places to invest. Aside from these, first generation Fil-Ams are now nearing their retirement and have amassed considerable buying power and they are now beginning to think about returning to Manila,” Vergara says.

Housing

Navarette says the housing industry has enjoyed consistent growth given the demands of more Filipinos looking for either their first home or an investment for the family.

“Such demand (has come) from across socio-economic sectors (A to D) and covers both horizontal (house and lot and lots only) and vertical developments (condominiums).”

He adds: “Buyers have benefited from the increase in number of developers that fight tooth and nail to make their products the best offer in the market.”

Interesting offers

Navarette says that with the improving peso-dollar rate, lower inflation and interest rates -- most likely driven by the government’s “aggressive economic drives” -- and favorable economic forecasts, developers and their financial partners have come up with very interesting offerings, resulting in very affordable packages and payment schemes with “very low interest rates.”

“On the other hand, the industry has continued to suffer from high costs of development and construction with prices doubling its figures versus five years ago,” he adds.

Soriano says leisure developments continue to be out of reach by the majority but has remained steady with only a handful of innovative players offering world-class developments in the northern and southern growth corridors. This can qualify as a niche market and is expected to target the affluent 6 to 8 percent of all real estate buyers.

ERA Philippines says the retail segment, on the other hand, registered flat growth based on year-on-year retail sales. Soriano says that for retail developers to show a good report card to its shareholders, they must continue to expand these developments in provincial markets.

“There really is no other choice but to consider retail developments outside Metro Manila. At present, malls are being planned even in second-tier provincial areas,” Soriano observes.

Flickr is amazing!!!!


normalbolditalic
http://i9.photobucket.com/albums/a91/EnozAnewor/Normalbolditalic.jpg
http://i9.photobucket.com/albums/a91/EnozAnewor/normalbolditaliccc.jpg

biologist buliklik
http://i9.photobucket.com/albums/a91/EnozAnewor/Manilabiologistbuliklik.jpg

02.09.07

The latest Bonifacio High Street art piece, still in the works...

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_016x.jpg

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_015x.jpg

Nung ung upper portion pa lang ang nakikita ko, akala ko natumbang poste ng street lights.:lol:

Net Square, Bellagio 2, Bellagio 1, and Net Cube, respectively

:rofl: Sorry, Pau. Nakakatawa lang talaga kasi ung meanings nasa pic ni Aaron kahit logical naman. :lol:

Nung ung upper portion pa lang ang nakikita ko, akala ko natumbang poste ng street lights.:lol:


Akala ko malaking industrial fan :lol:

Flickr is amazing!!!!


normalbolditalic
http://i9.photobucket.com/albums/a91/EnozAnewor/Normalbolditalic.jpg
http://i9.photobucket.com/albums/a91/EnozAnewor/normalbolditaliccc.jpg

biologist buliklik
http://i9.photobucket.com/albums/a91/EnozAnewor/Manilabiologistbuliklik.jpg

Pacific Plaza dwarfs everything else around it lol. look at the net buildings hehehe

an aerial pic i took last december

http://img168.imageshack.us/img168/2500/airportscenes017xr6.jpg

Pacific Plaza dwarfs everything else around it lol. look at the net buildings hehehe


i agree. it's pretty easy to spot FBGC from a plane because of Pacific Plaza... and pretty soon the i'm sure the Serendra complex too because of it's peculiar curvy buildings.

BTW, no more free parking at the City Center, Bonifacio High Street area... it's now a flat rate of Php 25.

^^ Ahh the price we pay for progress.


Not sure how current this article is but paints quite a rosy pic for Fort Boni's future.
1st Philippine Real Estate Investment Trust (REIT) Forum
by April Anne S. Misa
Makati City, Philippines

The 1st Philippine REIT Forum discussed its opportunities in the Philippines. One of the speakers was Richard Raymundo, Research and Consultancy Director of Colliers International Philippines Inc. He presented the Philippine Real Estate Market Update as of the 3rd quarter of 2006 by dividing the Philippine Property Cycle in four phases: Recovery (Retail and Leisure Residential), Expansion (Mid-Income Housing, Luxury Residential Condominium, and Office), Hypersupply (Affordable Residential Condominium and Farm Lots), and Recession Industrial and Golf/Club Shares).

According to Mr. Raymundo, everything is happening except in the traditional business districts of Makati and Ortigas. BPO and call centers continue to drive demand for office space while office rents and capital values will increase by 15% to 20% in the course of 2007. Call centers are now looking at alternative locations in light of increasing rents in traditional areas. On the look out are Fort Bonifacio, Reclamation Area, Villamor, Quezon City and Alabang and developers who can meet the demand in the next 12 months will gain most. Hence, design flexibility will be given a premium in light of demand from the BPO industry.

In Residential, affordability is still the name of the game. Competition is increasing and developers are now launching more creative configurations such as loft units, Z-units and bi-levels. “Key success factors in the market are location, accessibility, and facilities and amenities,” he said. The monthly amortization is a more important consideration rather than the total contract price. However, certain areas may face a glut in 2008.



About Colliers International

Colliers International is a global affiliation of independently owned commercial real estate firms. The organization's 9,327 employees span the world in 241 offices in 54 countries. On a worldwide basis, Colliers manages 595,725,580 square feet, and has revenue of $US 1,442,478,223. For more information about Colliers International, visit our website at www.colliers.com.

Contact Information

April Anne S. Misa
Marketing Coordinator
Tel 63 2 888 9988 local 4016
Fax 63 2 845 2612
Mobile 63 917 806 1253
Email April.Misa@colliers.com



________________________________



RP ready to take bigger slice of BPO business -- PGMA
THURSDAY, FEBRUARY 15, 2007 | FOREIGN INVESTMENT


With two of the world’s largest business watchdogs upgrading the country’s economic outlook for the next 12 months, President Gloria Macapagal-Arroyo declared today the Philippines is ready to take a bigger slice of the highly lucrative and booming business process outsourcing (BPO) industry.

In her speech keynoting the seventh e-Services Philippines (ESP) Global Sourcing Convention and Exhibition held at the Isla Ballroom of the EDSA Shangri-La Hotel in Mandaluyong City this morning, the President said the International Business Report of Grant Thornton and the California Pension and Retirement System’s (CalPERS) favorable outlook on the Philippine economy have made the country a more "desirable investment destination."

The recent International Business Report of Grant Thornton, one of the world's leading organizations of independently owned and managed accounting and consulting firms, ranks the Philippines second among 30 world economies in terms of optimism on the economy over the next 12 months.

CalPERS, America’s largest pension and retirement fund and top global leader in the investment industry, on the other hand, has raised the rating of the Philippines, making it a more desirable destination for its funds than China or even India, Malaysia, Thailand and Indonesia.

"This event (ESP) should further convince our potential investors that we are ready and here to stay after taking a growing slice of the global BPO business," the President said.

She pointed out that this was not the case six years ago.

"In 2001, there were only 2,000 employees working in BPO companies. But due to the "tough decisions" to raise revenues, these have proved to have a positive development on the economy," the President explained.

The tough decisions cited by the President were the implementation of radical revenue collection measures such as the Expanded Value-Added Tax (E-VAT) Law which raises the VAT on goods and services from 10 to 12 percent and the Lateral Attrition Law which imposes penalties on revenue collection agencies for failure to meet collection targets.

Because of these measures, the government was able to increase collections which were then used to fund vital infrastructure projects and in turn helped in improving the economy.

"Infrastructure spending is a main driver of investor confidence in the same way that a balanced budget has the same effect on our creditors and the capital markets: they must be at the top rung of priorities," the President said.

"In our country, in our administration, of the last six years, especially the last three years, we have struck a healthy balance among all aspects of the economy to maximize confidence, credibility and payback to the people," she added.

The BPO industry, according to her, has grown to 250,000 employees with prospects reaching well into the millions in the years to come.

"Our option to spend on infrastructure and social services will spur growth in the countryside, notch up grassroots enterprises and build wealth in the communities," the President said.

She stressed that BPO players are now pushing for higher-end projects, which include the utilization of editors, medical diagnosis, accounting and all kinds of higher value e-services, to create a million jobs to generate $12 billion in revenues by 2010.

"We are committed to go up the value chain and the influx of multinationals puts us several notches higher," she said.

The President said that to keep this commitment, the government would continue to hone the strengths which the Filipino worker has over other employees: extensive digital infrastructure, trusted business environment, class A office spaces and skills of the Filipino workforce.

"We continue to sharpen our workforce by enhancing the English curriculum. English is back as the medium of instruction in our country. Bridging courses and skills; honing the curriculum for medical editors; and building more IT (Information Technology) hubs in the Super Regions," the President said.

In ending, the President pledged to the more than 500 delegates who attended the ESP that she would "keep the economic ship on course and our political stability steady in the sea of optimism and hope."

Press Secretary and Presidential Spokesman Ignacio R. Bunye, meanwhile, said in a statement that the long-term effect of President Arroyo’s tough decisions is clearly evident in the stream of positive news on the economy.

He disclosed that German and Singaporean firms are staking their interest in the water utility firm Maynilad in a bid to be the country’s partners in the delivery of clean water.

From the Serendra thread...

http://img171.imageshack.us/img171/3478/01172007189oq3.jpg (http://imageshack.us)


Niretoke ko yung pic mo, parang lumabo kasi mata ko eh...
http://i5.photobucket.com/albums/y195/aaron_ofngol/BHS_enhance_2.jpg


http://img523.imageshack.us/img523/283/01172007192dw6.jpg (http://imageshack.us/)


Yang isa rin, aayusin ko ha...

http://i5.photobucket.com/albums/y195/aaron_ofngol/BHS_enhance-1.jpg

Yung ibang pic mo saka na. May gusto ka pa bang ipa-retoke? :D Ang akala mong wala nang igaganda, may igaganda pa! wala nang imposible, ang uso na ngayon eh "Salamat po doktor" o kaya "Salamat Aaron" hehehe :colgate:

Can't believe condo projects in FBGC has already reached 18 according to this article below...Ang dami na pala! :okay: :okay: :okay:

To The Point
Emil Jurado

Have you ever wondered at the rate the newspapers are advertising so many real estate developments around Metro Manila and outside the city if there is a market?

The answer is a big YES. There’s a market for all the developments of the Ayalas, the Gokongweis, the Gotianuns, the Andrew Tan with his Empire East and Megaworld, and many other property developers. Would you believe that there are some 18, I repeat, 18 property development projects in the Global City of Fort Bonifacio alone?

These developers plunking in billions and billions of peso in these developments would be stupid to risk their money if there is no market. And guess who are the buyers?

They are mostly from overseas, from Filipino doctors, nurses and other balikbayans, who have made good in the US. In fact, local property developers have struck pay dirt after sending professional sales people all over the US — Los Angeles, San Francisco, Chicago, New York and Texas — to convince Fil-Americans, who in their sunset years may want to retire in the Philippines, to buy.

What’s $100,000 to these Fil-Ams. That’s the equivalent of P6 million more or less, good for a two-bedroom condominium at Serendra at The Fort. A one-bedroom sells for only $75,000. And the banks are just too willing to extend loans to them.

***

Akala ko malaking industrial fan :lol:

Oo nga no? :rofl:

Ascendas invests P7.5B
in BPO buildings
BY ALBERT D. CASTRO
http://www.malaya.com.ph/feb19/busi1.htm
Singapore-based real estate firm Ascendas will invest P7.5 billion in the BPO buildings the Net Group will build.

The Net, co-owned by the Rufino,(theater) and Dupasquier (BF Homes) families, is the first and largest BPO space provider in Bonifacio Global City.

Ascendas president Chong Siak Ching said over P2 billion will be invested in the building which broke ground last week.

Ascendas co-developed the Carmelray Industrial Park II in Calamba, Laguna.

Ascendas has stakes in two BPO buildings, Net One Center and Net Square, as well as three more that will be built.

The Net Group is presently developing its third and fourth building — Net Cube and Net Quad, seen completed by the third quarter of this year and middle of next year respectively.

The company is estimated to have a total of 122,500 sq.m. leasable space, including the two yet to be completed.

Net Group vice president Ramon Fernando Rufino said Net Cube and Net Quad are already 100 percent leased even before it can be completed, though construction has just begun last month for Net Cube.

Net Quad, the latest offering from the group, follows the "boutique building" model of BPO space construction spearheaded by the Net group. The buildings have amenities like restaurants, spa, and other stores.

Jacques Dupasquier, Net Group Chairman, said BPO locators prefer the "boutique building".

The building also boasts of its efficient floor plate model, which allows a locator to maximize the use of its leased area, according to Net Group president Carlos Rufino. Rufino also said that the company has assured the presence of all telecommunication companies to ensure a 100 percent redundancy of Telco connections for a BPO company’s operation.

Ching said Ascenda’s investment into Net Group would be financed partly though equity funds from the company and partly loans that would be sourced from local banks.

The "strategic alliance" between the two companies highlight the growing need for BPO space in the country as the Philippines tries to establish itself as a viable service outsourcing venue for multi-national companies.

Rufino, Net Group president, noted the "unusual" number of BPO space demand materializing in the past six months.

Rufino said it there is a perceived "demand lag supply" in the local BPO industry with new BPO companies coming into the Philippines or existing ones expanding.

"Before the usual space demand for a single company would only amount to 2,000 sq.m. But now, companies are looking for a 30,000 sq.m. space expecting to occupy it the soonest possible time," said Rufino.

Property consultant CB Richard Ellis (CBRE) recently said there will be a lack of new office ready for occupancy in Makati in the next twelve months.

Singaporean company invests P2b for IT building
By Roderick T. dela Cruz

Singaporean real estate developer Ascendas and the Net group, a consortium led by the Rufino Group, are infusing P2 billion to construct a new office building designed for business process outsourcing companies and call centers at the Bonifacio Global City in Taguig.

Ascendas president and chief executive Chong Siak Ching said the construction of the 36,000-square meter Net Quad, the fourth in the series of boutique Net buildings, was in response to the growing demand for high-quality business space in the Philippines amid a boom in call center and BPO sector.

Carlos Rufino, president of the Net Group, said the Net Quad building had been 100 percent leased out even before its groundbreaking ceremony yesterday attended by Singaporean President Sellapan Rama Nathan.

Rufino said three large BPO companies, including two foreign firms, would occupy the 20-story building by the first quarter of 2008, when it was scheduled for completion. Monthly rent at the Net Quad will be P700 per sq. m.

“In my experience in real estate, I have never seen such large requirement for office space as in the past six months. Before, a company would require up to 3,000 sq. m. Now, with the growth in BPO, a locator would demand 10,000 and up to 30,000 sq. m,” Rufino said.

Ascendas and the Net Group have allocated P7.5 billion for the five Net buildings, two of which have already been completed—the 14,800 sq. m. Net One and the 18,700 sq. m. Net Square.

The first two Net buildings now house leading multinational corporations such as Ericcson, Sony, Tetrapak and Quisumbing Torres, a member of the Baker & McKenzie group.

Under construction is the 19,200 sq. m. Net Cube while set for groundbreaking by the fourth quarter of 2007 is another building. The five buildings will offer a total of 122,500 sq. m. of built-up area catering to BPO companies and call centers.

Rufino said that since the five buildings were registered with the Philippine Economic Zone Authority as an IT zone, locators will enjoy a minimal 5 percent tax on gross revenues, compared with the regular corporate income tax of 35 percent.

Actually the noise from the fort is incredible. I've heard like over a dozen "potential buildings" The lots we were looking at are all gone. Esquare and even Triangle are all gone. Ooly the city center lots are gone. There really is a lot happening right now.

There's even been a call to prequalify suppliers for the C6 and Skyway continuation. Feels like 96 so it's scary for those of us who lived through it. Anyway I really hope it's fundamentally sound.

IN terms of skyscrapers I hope a few supertalls get built. Otherwise we'll just see a big salcedo village grow up in the fort.

i agree. it's pretty easy to spot FBGC from a plane because of Pacific Plaza... and pretty soon the i'm sure the Serendra complex too because of it's peculiar curvy buildings.

kaya pag pumupunta kame ng Cebu at naka plane, lagi ko sinasabi sa kanila na left wing near the window ako para pag take off kita ang the FBGC... :D

at the back of pier1

http://i32.photobucket.com/albums/d41/empoy/P1010012Small.jpg

^^ Wow, looks like they're almost done!

Can't believe condo projects in FBGC has already reached 18 according to this article below...Ang dami na pala! :okay: :okay: :okay:

To The Point
Emil Jurado

Have you ever wondered at the rate the newspapers are advertising so many real estate developments around Metro Manila and outside the city if there is a market?

The answer is a big YES. There’s a market for all the developments of the Ayalas, the Gokongweis, the Gotianuns, the Andrew Tan with his Empire East and Megaworld, and many other property developers. Would you believe that there are some 18, I repeat, 18 property development projects in the Global City of Fort Bonifacio alone?

These developers plunking in billions and billions of peso in these developments would be stupid to risk their money if there is no market. And guess who are the buyers?

They are mostly from overseas, from Filipino doctors, nurses and other balikbayans, who have made good in the US. In fact, local property developers have struck pay dirt after sending professional sales people all over the US — Los Angeles, San Francisco, Chicago, New York and Texas — to convince Fil-Americans, who in their sunset years may want to retire in the Philippines, to buy.

What’s $100,000 to these Fil-Ams. That’s the equivalent of P6 million more or less, good for a two-bedroom condominium at Serendra at The Fort. A one-bedroom sells for only $75,000. And the banks are just too willing to extend loans to them.

***

Property in Manila is still a hell of a lot cheaper than other 3rd world countries capitals. Buenos Aires for one is twice the price. There is great growth potential here. BPO's and economic growth in China. I think properties will double in value in next 4-5 years.

^^ here's some minor correction to the $$ quoted in that article... 6M is more or less the cost of a 1BR at Serendra... the smallest 2 BR costs more or less twice that amount

Property in Manila is still a hell of a lot cheaper than other 3rd world countries capitals. Buenos Aires for one is twice the price. There is great growth potential here. BPO's and economic growth in China. I think properties will double in value in next 4-5 years. Hope you're right. That's part of the reason I opted to invest in a unit in Fort Boni. We're all hoping that the construction levels currently being experienced in the Philippines are backed with sound socio,eco and political fundamentals and not just fueled by hype and speculation. Guess will just have to see what the future brings....



Thanks for the Collier's report link you've posted below portludlow.
This probably will help.:)
http://www.colliers.com/Content/Repositories/Base/Markets/Philippines/English/Market_Report/PDFs/knwldgJan07.pdf

after namin idrop yung sis ko sa duetsche, my brother took me to Bonifacio High Street para tingnan kung anung meron :) too bad ang init ng araw, pero mahangin naman.

http://img185.imageshack.us/img185/2146/dsc02007ab0.jpg

http://img299.imageshack.us/img299/2310/dsc02009mz3.jpg

http://img299.imageshack.us/img299/6180/dsc02010vx5.jpg

http://img98.imageshack.us/img98/6861/dsc02012pb7.jpg

http://img518.imageshack.us/img518/3674/dsc02013lp5.jpg

http://img468.imageshack.us/img468/7856/dsc02015oe1.jpg

http://img98.imageshack.us/img98/1507/dsc02019kh4.jpg

http://img98.imageshack.us/img98/6065/dsc02022gq4.jpg

http://img295.imageshack.us/img295/7130/dsc02030tk6.jpg

http://img89.imageshack.us/img89/8476/dsc02035xz4.jpg

http://img152.imageshack.us/img152/9069/dsc02042rs3.jpg

http://img185.imageshack.us/img185/7236/dsc02024uu4.jpg

closer...
http://img264.imageshack.us/img264/9016/dsc02038ys9.jpg

^^ cool pix.. :) havent seen you for some time ey.. :)

love the last two pix.. :)

http://img295.imageshack.us/img295/7130/dsc02030tk6.jpg



Cool disappearing Innova! What happened? It got sucked into a vortex or somethin? :lol:

Cool disappearing Innova! What happened? It got sucked into a vortex or somethin? :lol:

hahaha, the cars were too fast kasi e... kaya yun:lol:

^^ Thanks. meron pa:)

http://img408.imageshack.us/img408/6726/dsc02050aa3.jpg

http://img98.imageshack.us/img98/1203/dsc02051yc6.jpg

http://img98.imageshack.us/img98/5161/dsc02054vd3.jpg

http://img254.imageshack.us/img254/7233/dsc02060ni3.jpg

Tell us of your experience when you visit FBGC. Maganda ba talaga?

Welcome back, Kiben. Nice photos!

^^ Thanks. meron pa:)

http://img98.imageshack.us/img98/5161/dsc02054vd3.jpg

Maganda naman kinalabasan nung HSBC building. Ano yung maliit na structure beside it? Part pa rin ba ng HSBC yan?

http://img254.imageshack.us/img254/7233/dsc02060ni3.jpg

What building is this?

Thanks.

http://img152.imageshack.us/img152/9069/dsc02042rs3.jpg



What's with the sectional signs (i.e. B:4, B:3, etc.)? I don't like it. Para tuloy outlet mall ang dating. Are those temporary?

^^ Many thanks Kiben for posting those latest Fort Boni pictures. FBGC is definitley looking good. I like what I see not just in the High Street strip but aound the neighborhood as well. The whole area looks like a high end botique neighborhood ala Beverly Hills, Santana Row, and even the Embarcadero / Biotech City area of San Francisco. Fort Boni is really booming with construction but still ang linis linis at walang traffic in those pics. How can that be? A real urban oasis indeed and it's turning out better than I expected. I'm glad I bought at FBGC! Sulit na investment! :) :) :)

kung titingnan ninyu sa pics, para ngang ibang bansa yung style, pero pag andun ka na, super init:bash: maganda siguro dyan pag gabi and sa Pasko:lol:

^^ hindi ko din alam yung building na yun eh, nasa bandang north ng boni.

Naghahanap din kasi kame ng restaurant para sa grad ko:) eh, wala pa palang bukas. Magpipicture ulet ako pag walang pasok at kapag hihahatid namin sis ko sa work niya:)

^ Salamat sa account mo @Kiben. Iba siempre kung may kasamang kuento yung pictures.

What building is this?

Thanks.

hanjin ata...

Welcome back, Kiben. Nice photos!

Maganda naman kinalabasan nung HSBC building. Ano yung maliit na structure beside it? Part pa rin ba ng HSBC yan?

that establishment is called '32nd and Fifth Avenue'... it is sort of a mini-mall or food plaza... that will be a good addition for other food shops in Crescent Park... I'm not sure yet what specific shops will open there...


What building is this?

Thanks.

Yup.. that is Hanjin....


@tyronne... those b-1...numbers are permanent there... I also think they look awkward to the place specially in the morning... but in the evening... they are lit up...

What's with the sectional signs (i.e. B:4, B:3, etc.)? I don't like it. Para tuloy outlet mall ang dating. Are those temporary?


i think that's to identify the different quadrants/sections coz otherwise they all kinda look alike so it'll be hard to give an "exact" address... remember the whole stretch is something like half a km long :dunno:



kung titingnan ninyu sa pics, para ngang ibang bansa yung style, pero pag andun ka na, super init:bash: maganda siguro dyan pag gabi and sa Pasko:lol:


that is so true! i was there at 12 noon last weekend... i didn't plan to walk along the stretch of Boni High Street but when i saw that the GI fencing of Serendra were down i took the op to take pictures of the now visible Serendra drop off & lobby... anyways, since i had to pay a flat rate of 25 bucks for parking at the city center, i decided to max it and took a walk around High Street... it was sizzling HOT! i ended up with a monster of a headache later that day :ohno:



Naghahanap din kasi kame ng restaurant para sa grad ko:) eh, wala pa palang bukas.

there are lots of great restos to choose from at the Shops at Serendra from special family dinners such as to celebrate your grad... congratulations in advance by the way ;) ... if the budget allows, steaks are good at Duo :okay: otherwise, try Thai at Silk, Mezza Luna or Gaudi's :cheers:

@kiben- nice photos!! :D ang linis tingnan at ang cool ng color nya kaso maiinit nga lang maglakad dyan... and ayan si ate lauren, alam lahat ng resto dyan, sa kanya ka magtanong ng magandang resto... :D

i think that's to identify the different quadrants/sections coz otherwise they all kinda look alike so it'll be hard to give an "exact" address... remember the whole stretch is something like half a km long :dunno:

I was thinking of that way too. And it's Ayala, remember how they name projects? Glorietta 1-4 with names of G1, G2, G3, and the most popular, G4. Greenbelt 1-5 with names of GB1, GB2, GB3, GB4, GB5. And now, we have Bonifacio High Street with names B1, B2, B3, B4, B5, B6, B7, and B8.

http://img185.imageshack.us/img185/7236/dsc02024uu4.jpg

closer...
http://img264.imageshack.us/img264/9016/dsc02038ys9.jpg

Cool photos, very dense!!!

that is so true! i was there at 12 noon last weekend... i didn't plan to walk along the stretch of Boni High Street but when i saw that the GI fencing of Serendra were down i took the op to take pictures of the now visible Serendra drop off & lobby... anyways, since i had to pay a flat rate of 25 bucks for parking at the city center, i decided to max it and took a walk around High Street... it was sizzling HOT! i ended up with a monster of a headache later that day :ohno:

there are lots of great restos to choose from at the Shops at Serendra from special family dinners such as to celebrate your grad... congratulations in advance by the way ;) ... if the budget allows, steaks are good at Duo :okay: otherwise, try Thai at Silk, Mezza Luna or Gaudi's :cheers:

nagbayad din kame ng P25 sa boni-high-street, hahaha:lol: ang sikip pa nung daan, 2 lanes lang ata, tas one way pa. Kapag naglalakad kame sa Boni-high-street, sa may shade kame e, super init talaga:bash:

mahangin din nung panahon na yun e, tas sa bandang fairways and soma, ang dusty, parang desert storm:lol:

Sakit pala aabutin mo kapag naglakad-lakad ka there because of the scorching heat and the bountiful dusts combined .
Much better nga siguro if mga 5pm onwards na mag walkathon there.

^^ around 4pm onwards will be good na ;) and really nice at night imo :)

Madaming mga punong tinanim pero bata pa kasi ang mga puno sa Fort eh so really just need to give it time to grow and mature. Once the branches and foliage grow, magiging shady na rin yan. Samething goes for the skyscrapers, pagdumami na ang buildings sa Fort makakatulong din yan to shade pedestrians from the sun's scorching heat at mababawasan na din ang dust clouds coming from the construction sites in and around the booming FBGC.

^^ Yep! Give it a whole lot of time! Before the time comes, bring a pamaypay.

bukas na yung shabu shabu sa High Street diba?

^^ i think bukas na. (or malabo lang mata ko nun dahil sa dust:lol: ) magdala din kayu ng shade sa loob ng car (nu ba tawag dun?) lalo na after mung umikot, and pagpasok mo sa car, super init! Kung magpapark ka sa Bonifacio high street.

uhm, pwede bang mag-park sa underground ng serendra kahit hindi ka nakatira dun? and anung oras yung closing ng mall sa serendra? di kaya maingayan yung mga nakatira sa taas nun, lalo na pag gabi?:lol:

^^ Nakapagpark na kami sa under-the-Serendra kahit di kami taga-dun, okay naman, mas maganda kung dun ka park sa malapit sa escalator na malapit sa BHS. Free pa parking ng Serendra nung time na yun, ewan ko lang ngayon.

^^ i think bukas na. (or malabo lang mata ko nun dahil sa dust:lol: ) magdala din kayu ng shade sa loob ng car (nu ba tawag dun?) lalo na after mung umikot, and pagpasok mo sa car, super init! Kung magpapark ka sa Bonifacio high street.

uhm, pwede bang mag-park sa underground ng serendra kahit hindi ka nakatira dun? and anung oras yung closing ng mall sa serendra? di kaya maingayan yung mga nakatira sa taas nun, lalo na pag gabi?:lol:

naging issue na yan dito sa ssc dati, kung di ba mabubulabog ang mga tao sa serendra kung may mga strips na ganyan...

Oo nga no , parang overly commercialized naman pala sa Serendra . To think , Market 2X mall at High Street are just beside it . At kapag may mga party/events imposibleng makaligtas ka sa ingay coz midrise lang ang Serendra dinig na dinig ang noise below since open strips pa yun . Kung ganun din lang , mas okay pa pala yung sa mga mixed-used residential na enclosed mall at condo combined coz kahit maingay sa mall , hindi mo maririnig since nako-confined within the enclosed mall yung noise unlike sa open strips ..for sure maririnig mo talaga ang noise below .
For me precious yung quiet neighborhood , if I will buy a condo ( how I wish/ but I own a rowhouse type in Cavite ) . I will choose yung may peace of mind and relaxation . Its okay yung may commercial establishments but subdued only at yung necessary lang or may mga establishments na walking distance lang , thats cool enough.

bukas na yung shabu shabu sa High Street diba?


yeah it's open

so to date, shabu shabu, krispy kreme and figaro are the only food outlets open.

yeah it's open

so to date, shabu shabu, krispy kreme and figaro are the only food outlets open.


if i'm not mistaken, coffee bean & tea leaf is now open also

if i'm not mistaken, coffee bean & tea leaf is now open also

Yes, it's open!

yann!! so kailan ang next gimik?

if i'm not mistaken, coffee bean & tea leaf is now open also

Yes, it's open!

Property sector update:
An article published in the Business Mirror, February 22, 2007
By: John Mangun

If you think I was enthusiastic about purchasing Philippine property the last time I discussed it, you have not seen anything yet.

I had the privilege of listening to the Philippine team of the globe’s largest real estate advisory firm, CB Richard Ellis. Chairman Rick M. Santos heads the local office. Others who participated in their briefing included general manager Trent Frankum, their director of research and consulting Victor Asuncion and Chay Ong, who is associate director for residential services.

CB Richard Ellis probably understands the local and regional property market better than anyone around because the deal is both commercial and residential real estate. Its business activities include finding thousands of square meters for those American call centers to lease, as well as providing advice for that individual who owns a hectare or two, trying to decide how to develop that empty land. LandBank recently appointed it to handle a major auction of foreclosed properties.

There is no question that the good-old property days of pre-1997 are back. The phenomena we saw then of complete buildings being sold out before even one shovel of dirt was turned is happening again. However, there are very significant and fundamental changes from the mid-’90s that go hand in hand.

First is that the speculative nature of buying in the 1990s has been replaced by end-users wanting to purchase units for their own use, either to live in or to rent out as an investment. No longer is the mid- to high-end condominium market dominated by the “rich” who are simply trying to make a quick profit owning a unit.

Currently, the vast majority of buyers are those wanting to live in these condos or to use the property as an additional source of income. This is an extremely positive trend because this type of end-user tends to stabilize the property market from large speculative price swings. They are a more solid source of continuing sales for the property developers.

The second development that has helped create this particular market is that now owners do not have to purchase units with cash but can finance purchases through long-term fixed rate mortgages. This is a major and fundamental change in the Philippine market because it has opened up the possibility of owning real estate to buyers that were previously shut out of the market.

Even the government, through the Pag-Ibig Fund, has recognized the need for financing on multimillion pesos middle-class housing and not just providing loans to the lower economic groups. Further, Pag-Ibig is also venturing into project financing which helps developers build the units.

Although the CB Richard Ellis discussion covered the complete range of property from office space to residential, let me confine my own comments to the residential sector.

A little background. Supply and demand for mid- to high-end residential units was fairly balanced in year 2000 with supply exceeding demand in 2001. 2002 was a complete write-off as there were only a few units that came on stream and the demand, although exceeding supply, was also small.

2003 saw demand weaker than the increasing supply and the number of units available in 2004 was again small at about 1,000 units for the major CBDs of Makati, Ortigas, Fort Bonifacio and Alabang.

The boom started in 2005 with more than 2,500 available and the take-up rate was 100 percent. 2006 saw 1,000-plus units and demand was slightly higher than supply. The significant thing about 2006 was that vacancy rates dropped to about 1 percent, meaning that using a newly built unit for rental income is a very good proposition.

Estimates of supply for 2007 is very high at about 4,500 units and 2008 will be about the same. There is little fear that there will be any unsold units as the demand factors are still very strong. These factors include demand from overseas Filipinos, a need for residences to house the current influx of foreign expatriate employees in the BPOs and call centers, and a good economy which is allowing more of the middle class to enter the housing market.

Why am I so bullish on Philippine property? The estimate of the supply of new units in 2009 is only about 1,800. The demand-creating factors are very unlikely to diminish in the next two years while supply will fall substantially.

CB Richard Ellis is not prone to talk about a substantial increase in prices because of a supply-demand imbalance. Nonetheless, the numbers tend to validate the idea that there is the potential of a large imbalance if demand numbers continue the way they have in the last two years. We could see both purchase prices and rental rates of existing units increase very strongly in the next two or three years.



______________________________________

Thanks for this post Tcchua. Future looks bright! :)

Below is an article related to your discussion...

Philippine office vacancies lowest in 10 yrs
By Ian C. Sayson
Bloomberg

PHILIPPINE prime office vacancies fell to 1.6 percent last year, the lowest in at least 10 years, and will probably stay at that level in 2007, as the remaining space is too small for back-office providers and call centers, a property consultant said.

“Any supply that will come in is already committed to tenants,” Victor Asuncion, director at CB Richard Ellis Philippines Inc., said in an interview Thursday in Manila.

An expansion by call centers and outsourcing companies such as eTelecare Global Solutions Inc. and Convergys Corp. in the last three years filled Philippine office vacancies, which peaked at 40 percent to 50 percent after the 1997-1998 Asian financial crisis discouraged companies from expanding.

The Philippines has the lowest office vacancy rate after Vietnam’s Ho Chi Minh City and Singapore among nine districts in Asia surveyed by Richard Ellis, Asuncion said. The Philippine business process outsourcing industry is expected to employ as many as 1 million workers by 2010, driving demand for office, hotels, homes and retail space, he said.

The outsourcing industry has 79,469 active information technology professionals and 120,000 call- center agents, a Philippine newspaper reported on February 15. Call-center sales are expected to triple to $7.3 billion by 2010, it said.

Cheap lease

APART from its large supply of English-speaking graduates, lease rate in the Philippines is among the cheapest in Asia, making it more attractive for back-office providers to set up shop in the country, said Rick Santos, the Manila-based chairman of CB Richard Ellis Philippines.

“The stars are aligned for the Philippines,” Santos said. “There are a lot of good things going for it and we have seen the start of a pretty strong cycle.”

At about $1.5 a square feet, Manila has the cheapest lease rate after Jakarta and Kuala Lumpur, among the nine areas surveyed in Asia by Richard Ellis, according to Santos.

The expansion of call centers will probably cause office rentals to rise 10 percent to 15 percent annually in the next two years, after climbing 35 percent a year in 2006 and 2005, the property consultant said.

Separately, vacancies for middle-high to high-end residential apartments in the nation’s major commercial-business districts declined to about 1.3 percent last year, the lowest since 2002.

The demand for homes was driven by Filipinos working overseas and those working in companies that provide outsourced business services, said Chay Ong, associate director at CB Richard Ellis Philippines. The vacancy should stay at the same level this year since most of the supply that will come in has already been bought, she said.

Ong forecasts about 11,000 units of apartments will be built in the nation’s major financial districts from 2007 through 2009. That would almost double the estimated 13,000 units at end-2006, she said.

Fort Boni aerial shots:

http://i58.photobucket.com/albums/g278/glennbp/IMG_0911a.jpg

http://i58.photobucket.com/albums/g278/glennbp/IMG_0912a.jpg

http://i58.photobucket.com/albums/g278/glennbp/IMG_0913a.jpg

http://i58.photobucket.com/albums/g278/glennbp/IMG_0914a.jpg

http://i58.photobucket.com/albums/g278/glennbp/IMG_0915a.jpg

Wow very nice Fort Boni aerial pics you've posted there Gridloc. Ganda ng Makati skyline! Many thanks for your time and effort bro. :)

http://i58.photobucket.com/albums/g278/glennbp/IMG_0920a.jpg
http://i58.photobucket.com/albums/g278/glennbp/IMG_0915.jpg

wow! great shots!

...all residentials :( cept for net buildings

i still wish they would built something better on Forbeswood... something taller to maximize the vertical space... eh???

...by the way, what's that square building with the courtyard??? the last pic...

^^Nice aerials! In a few years time, the scene from up the sky would be more exhilirating!

Nice aerial Gridloc! Thank you for posting here. Dapat yung Grand Hamptons maging supertall and glassy or maybe they build one next to Boni Ridge :)

Nothing compares to Pacific Plaza. Doon sa bottom ng top picture, what is that space between Serendra and American Cemetary, parang may mga bahay.

Fort Boni aerial shots:

http://i58.photobucket.com/albums/g278/glennbp/IMG_0915.jpg

What's that rectangle shaped building near the bottom? What's it doing in the middle of a residential area?

i just lost my way to this thread :lol:


Doon sa bottom ng top picture, what is that space between Serendra and American Cemetary, parang may mga bahay.


the low structure right beside SoMa is the Serendra Sales Pavilion

What's that rectangle shaped building near the bottom? What's it doing in the middle of a residential area?

Benigno "Ninoy" Aquino High School. That's the typical look of a Makati public school, with the word M A K A T I placed on all four sides of the roof.

^^ Wait a minute! How can Fort Boni be in Taguig when the Makati CBD is at the top of it while the "Makati" public school is at the bottom in that pic? :?:

i just lost my way to this thread :lol:





the low structure right beside SoMa is the Serendra Sales Pavilion

I was referring further left of the Serendra Sales Pavilion :)

agree.. couldn't be part of makati.. maybe a taguig public school or pasig maybe.

^^ Wait a minute! How can Fort Boni be in Taguig when the Makati CBD is at the top of it while the "Makati" public school is at the bottom in that pic? :?:

makati is written on the roof... tama si aaron.

yup that is makati..... there is a thin portion of Makati that extends to the area of Taguig on the south banks of Pasig River.. so most of the north border of Taguig is Makati....

^^ if i'm not mistaken, FBGC was, at one time, being claimed by Makati... i'm not sure if it would've been better off with Makati though

yup that is makati..... there is a thin portion of Makati that extends to the area of Taguig on the south banks of Pasig River.. so most of the north border of Taguig is Makati....

^right, if you look at the map, that portion of Taguig is sorrounded by a thin portion of Makati.

^^ as shown here:

http://upload.wikimedia.org/wikipedia/en/3/3a/Metro_manila_map.png

kung titingnan ninyu sa pics, para ngang ibang bansa yung style, pero pag andun ka na, super init:bash: maganda siguro dyan pag gabi and sa Pasko:lol:

^^ hindi ko din alam yung building na yun eh, nasa bandang north ng boni.

Naghahanap din kasi kame ng restaurant para sa grad ko:) eh, wala pa palang bukas. Magpipicture ulet ako pag walang pasok at kapag hihahatid namin sis ko sa work niya:)

mainit talaga kasi walang masyadong high-rise buildings.

the taller the buildings, then the easier for pedestrians to find refuge from direct sunlight.

sprawling developments are only good for countries with temperate climates.
i guess you can't walk around boni from point a to point b without sweating like a horse.
without a car, you are probably held hostage from walking around from 8 am to 4pm.
Fort boni should include shaded walkways in their budget, if they insist in having it designed as a sprawling dev't.

thanks to highrises, the busiest roads of makati and ortigas have the luxury of getting indirect light for the most parts of the day.

yup, Fhoy's map shows that part of Makati wraps around Taguig's BGC.

Serendra buildings look very much alike with those prefabricated communist-era mass houses in Germany and Eastern Europe, bago nga lang kaya ,mas maganda..

^^ as shown here:

http://upload.wikimedia.org/wikipedia/en/3/3a/Metro_manila_map.png

Parang nagkarun ng changes , lumiit ang Makati . Hindi naman ganyan dati sa old maps ng MM . Dati , yung encroaching area ng Taguig ( which I assume is the BGC area) belongs to Makati . Since nakain ng Taguig yung BGC area kaya siguro nagkarun ng narrow strip na iyan na part ng Makati ..swerte naman ng Taguig at na claim nila yung prime property .
I also noticed na lumaki ang Pasay at Paranaque , it is becoz of the reclamation land sa Manila Bay ? Pinakakawawa naman pala ang Pateros , kasi sobrang liit na at napapagitnaan pa ng progressive cities at walang chance man lang na maka-reclaimed sa Laguna lake . Akala ko malapit ang Pateros sa Laguna lake because maraming itik kaya noted sa balut business .
nag start na ba yung mga reclamation projects ng Taguig sa Laguna lake , may mga plan din yata ang city government for such.
Sa Muntinlupa , may at least two existing small scale reclamation ( landfill ) na which is the Tunasan and Bayanan baywalks. Large scale yata yung sa Taguig .

What's that rectangle shaped building near the bottom? What's it doing in the middle of a residential area?

Taguig Prison?

yup, Fhoy's map shows that part of Makati wraps around Taguig's BGC.

I smell Gerry... as in Gerrymandering.. Gotta love those corrupt politians. heheh...

Parang nagkarun ng changes , lumiit ang Makati . Hindi naman ganyan dati sa old maps ng MM . Dati , yung encroaching area ng Taguig ( which I assume is the BGC area) belongs to Makati . Since nakain ng Taguig yung BGC area kaya siguro nagkarun ng narrow strip na iyan na part ng Makati ..swerte naman ng Taguig at na claim nila yung prime property .
I also noticed na lumaki ang Pasay at Paranaque , it is becoz of the reclamation land sa Manila Bay ? Pinakakawawa naman pala ang Pateros , kasi sobrang liit na at napapagitnaan pa ng progressive cities at walang chance man lang na maka-reclaimed sa Laguna lake . Akala ko malapit ang Pateros sa Laguna lake because maraming itik kaya noted sa balut business .
nag start na ba yung mga reclamation projects ng Taguig sa Laguna lake , may mga plan din yata ang city government for such.
Sa Muntinlupa , may at least two existing small scale reclamation ( landfill ) na which is the Tunasan and Bayanan baywalks. Large scale yata yung sa Taguig .

there was no change of borderlines on these cities that I know of at maybe in my 20+ years of knowledge.... BGC did not create that narrow strip since Makati still owns the portion of BGC that encroaches its border.. so basically BGC is covered by both Makati and Taguig...

yes the reclamation of Manila Bay added to the land area of Pasay and Paranaque...

^^^ Alam ko sa Taguig na talaga yung BGC.

makati is written on the roof... tama si aaron.

Nabasa mo rin pala yun? Ang layo na nun ah! Linaw ng mata mo tsong, siguro mahilig kang mamboso sa bintana ng kapitbahay nyo. :jk:

I was about to post a map like that to explain why I said that Ninoy Aquino HS is a MAKATI public school, buti naman nagawa na ni Fhoy, salamat. ;)

Rarely we see BGC from this angle. Bellagio looks nice from afar on this angle.

http://img220.imageshack.us/img220/6866/bgcstateoftrance001fa3.jpg
photo by stateoftrance (pbase)

"Ferpect!"--Nel :lol:

http://img147.imageshack.us/img147/1717/3973348992f640c26d5be74uo7.jpg
photo by Geourgina (flickr)

^^ nice angle ty! :okay:

Astig

Parang nagkarun ng changes , lumiit ang Makati . Hindi naman ganyan dati sa old maps ng MM . Dati , yung encroaching area ng Taguig ( which I assume is the BGC area) belongs to Makati . Since nakain ng Taguig yung BGC area kaya siguro nagkarun ng narrow strip na iyan na part ng Makati ..swerte naman ng Taguig at na claim nila yung prime property .
I also noticed na lumaki ang Pasay at Paranaque , it is becoz of the reclamation land sa Manila Bay ?.

I made that map and uploaded it to Wikipedia. :)

There was a dispute between Makati and Taguig a few years back on who has jurisdiction over BGC. The courts ruled that it's part of Taguig.

And yes, the parts of Pasay and Paranaque sticking out into the bay... that's reclaimed land.

Cool pics! Love the second one, I don't think somebody posted that kinda angle before?

or this angle....


jaredflo

http://i9.photobucket.com/albums/a91/EnozAnewor/jaredflofbgc.jpg

Wow...nice, fresh angles ty. Thanks for posting them. Bellagio does look nice in the second pic, better when the other towers are built.

I also like how the buildings are lined up in the second pic you posted.

"Ferpect!"--Nel :lol:

http://img147.imageshack.us/img147/1717/3973348992f640c26d5be74uo7.jpg
photo by Geourgina (flickr)

Gotta love this photo! :okay:

Look at OneMc. Mukhang tinapyas na cylinder! :lol: :nocrook:

photo taken by azski from webshots.com

http://i9.photobucket.com/albums/a91/EnozAnewor/azskiFBGC.jpg

http://i9.photobucket.com/albums/a91/EnozAnewor/azskiFBGCo.jpg

i think these were taken mid-late february

"Ferpect!"--Nel :lol:

http://img147.imageshack.us/img147/1717/3973348992f640c26d5be74uo7.jpg
photo by Geourgina (flickr)

Fairways provides an interesting break from the almost uniform heights of the towers lining that pic. I can't wait to see how that pic will change with the addition of Icon, B4, B5, and the lot beside Fairways.

BCDA to pursue sale of Boni lot
http://www.tribune.net.ph/business/20070305bus5.html
03/05/2007

The Bases Conversion and Development Authority (BCDA) will pursue the auction of a property inside the institutional area of the Bonifacio Global City in Taguig City with an estimated land are of 2,632 square meters.

BCDA vice president for corporate planning and business development Aileen Zosa said the government has finally decided to go with the auction hopefully by end of March this year.

The agency, she said, will start to entertain offers through the submission of pre-qualification documents while the exact date of the public bidding will be announced soon. Interested parties will have to purchase the Terms of Reference (TOR) for BCDA’s asset disposition program (ADP) phase II.

The government is expected to raise an additional revenue amounting to P100 million based on a floor price of P45,000 per square meter or equivalent to a yearly lease rate of P3.1 million for a lease contract of 25 years.

The property forms part of the third phase of the BCDA’s ADP which is aimed at raising additional revenues to fund the government’s Armed Forces of the Philippines modernization program.

Development of the said property is expected to complement the existing upscale educational institutions in the area including the International School Manila, Manila Gospel, Summit School, Japanese School, a Bristish School, and Every Nation Leadership Institute (formerly Victory Leadership).

Some of the developments that are allowed in the area include ancillary car park; art gallery; athletic viewing; clinic/polyclinic; canteen; concert hall; daycare center; educational institution; estate association office; exhibition hall; government office; library; place of worship; place of recreation, sports or culture; post office; public museum; sanitarium; school auditorium; school gymnasium and theater (drama not film). Ayen Infante

"Ferpect!"--Nel :lol:

http://img147.imageshack.us/img147/1717/3973348992f640c26d5be74uo7.jpg
photo by Geourgina (flickr)

I find it a bit eerie. Cemetery crosses lined up alongside the buildings.

I have a question for those who live or work in Fort Bonifacio: does it feel like the city is in construction boom, as in lots being dug out, cement trucks driving around, or construction workers making noises with their jack hammers? Haha, I'm just wondering what the feel of the city is at this moment. Are there a lot of people walking around? How about the traffic?

"Ferpect!"--Nel :lol:

http://img147.imageshack.us/img147/1717/3973348992f640c26d5be74uo7.jpg
photo by Geourgina (flickr)
^^ Yup I agree the American Cemetery/Monument is kinda an acquired taste nga but its the opposite side that is the real gem of this area behind Forbes Park and Manila Golf. Aside from having unobstructed and really awesome Makati skyline view, I very much like and appreciate the spaces between the buildings in that Southern part of FBGC. Doesn't feel claustrophobic and lesser chances of "Canyon Effect" unlike in other cities where they're side by side and wall to wall even which captures all that smog from vehicular traffic. The Southern side seems alot quieter too so it provides privacy when you need/want it and yet still walking distance from all the action in the Boni High Street and Forbes Town Commercial Area, very convenient talaga. Don't mind having the ubber exclusive/expensive Pacific Plaza, Essensa and Forbes Park as neighbors either since it can only help when it's time to sell. Btw I heard through the grapevine that another high-end luxury condo project is being considered in the vicinity of Regent Parkway, Essensa and Fifth Avenue so that cemetery view will eventually be blocked by the said buildings and out of site to many in the near future.

I have a question for those who live or work in Fort Bonifacio: does it feel like the city is in construction boom, as in lots being dug out, cement trucks driving around, or construction workers making noises with their jack hammers? Haha, I'm just wondering what the feel of the city is at this moment. Are there a lot of people walking around? How about the traffic?



FBGC is indeed currently experiencing a construction boom BUT except for some browned out greens it's a pretty nice and quiet place (jack hammers??)... traffic within BGC is light to moderate... people do walk around though mostly in the early morning (joggers) or around the commercial areas

"Ferpect!"--Nel :lol:

http://img147.imageshack.us/img147/1717/3973348992f640c26d5be74uo7.jpg
photo by Geourgina (flickr)

nice i like how the bldgs are lined... iba pa rin yung pacific plaza... plus the cemetery too and the trees are lined too! coolness! :D

Great shot, the angles make them look like all in a row and of the same height.

Wah if you havent notice the cemetery on the spot, it's like the navy's soldiers on their uniform queing for parade.

Wah if you havent notice the cemetery on the spot, it's like the navy's soldiers on their uniform queing for parade.

nice imagination! :)

Looks highly likely rents/prices at Fort Boni will continue to go up and up! :okay: :okay: :okay:

Jobs growth not the only winner from BPO in The Philippines

The property sector in the Philippines is rising from the doldrums thanks to the booming business process outsourcing (BPO) industry. Aside from boosting the country's labor, another clear beneficiary of the boom in the BPO industry is the property sector.

BPO is an emerging industry in the Philippines. The industry itself was regarded as one of the fastest growing industry in the world. The phenomenal BPO boom is led by demand for offshore call centers. It is estimated that over 112,000 people were working in call centers in the Philippines in 2005, bringing in revenues of US$1.12 billion for the year. This is in sharp contrast to 2000 when Filipino call centers employed 2400 people and earned US$24 million.

This emerging industry is fueled by front office customer care and back office processes including finance/accounting, human resources, and information technology services. Though customer care contact centers form the largest part of the BPO boom locally, the Philippines' English language proficiency, information technology, human resources, and available finance/accounting professionals are significant contributing factors as well.

In fact the Philippines has the largest number of accredited accountants in Asia, with the number growing yearly. Filipino accountants are also renowned for their flexibility in working with multiple accounting standards.

The Philippines' Center for International Trade Expositions and Missions (CITEM) report for 2004 cited the Philippines as among the top 10 choices for offshore operations. Major companies that already operate in the Philippines include AIG, AOL, Barnes & Noble, Chevron, Citigroup, Dell, HP, IBM, Intel, JPMorgan Chase, Motorola, Procter & Gamble, and Trend Micro.

Land Values Rocket
While the 1997 Asian financial crisis may have caused the property sector to hit rock bottom, the services industry is breathing new life into once vacant assets. Land values in the major central business districts in Metro Manila have increased because of the demand for more office space. The main underlying demand is coming from BPO growth.

In 2005, research from property group Colliers International estimated that land values in the Manila central business districts should post a 15% year-on-year increase. Prices of prime sites in Makati are expected to hit US$4,192 per square meter, while development plots in Ortigas could reach up to around US$1,893, the consultancy firm said. Anything from warehouses, shopping malls to upscale office spaces are currently up for grabs as the BPO industry has seen demand outstripping supply.

Some of the countries top property developers are earmarking sites to cater to the BPO demand. Recently, Ayala Land, Inc, a large property developer, said it is setting up two BPO campuses in Metro Manila and Luzon. Ms. Victoria Añonuevo, Ayala corporate business group head, said these two projects are the company's answer to the exponential growth of the BPO business in the country. "In the last year, BPO buildings have gone from zero of our total office gross leasable area to about 34 percent of our overall office portfolio, Ms. Añonuevo was quoted as saying.

Ayala Land is offering a unique built-to-suit model targeted mainly to address the demand for office space. Last year, it transferred its first built-to-suit building to a major BPO player. Ayala Land's built-to-suit model involves a prospective tenant who submits its specific requirements to the property firm who in turn will build the property according to the tenant's specifications. This model assures Ayala Land has a guaranteed tenant for the property. Last year, Ayala Land said it had earmarked nearly 36,000 sqm of leasable office space for construction of BPO buildings.

Not to be outdone by realtors, shopping mall developer SM Prime Holdings last February opened its doors to Dell Inc. who established a call center in one of SM's biggest malls to date, the Mall of Asia. The services sector is also coming to the rescue of "traditional" sectors such as manufacturing. While the manufacturing sector is still recovering from weak output last year, the services sector is attempting to fill in the void. "Some firms are buying warehouses because of the lack of office space," Director-General Romulo Neri of the National Economic and Development Authority (NEDA) said.

Even prior to the use of warehouses for BPO, once vacant condominium units have been rented by many companies. One board member of a Makati condominium building said that the number of tenants increased from 60 percent to 90 percent because of BPO companies. The lack of viable supply has resulted in the emergence of alternative sites such as Filinvest Alabang, the Bay Area reclamation, the site of the Mall of Asia, Fort Bonifacio, McKinley Hill and Robinsons Pioneer area.

Incentives Widely Available
One of the major developments in the government's incentive-giving policy is the recognition that commercial spaces, no matter how small or big, can be entitled to incentives. Developers of these real estate properties apply for and get incentives from the Board of Investments and the Philippine Economic Zone Authority (PEZA). Once proclaimed by government that office sites are IT investment sites, the property developers and locators in the sites were entitled to incentives. Incentives range from tax holidays to duty-free importation of equipment. Prior to this recognition, only large industrial tracts of lands were entitled to incentives. These large tracts of lands are those suited for traditional businesses, such as manufacturing sites.

Cities Not The Only Beneficiaries
Metro cities outside the capital of Manila are also cashing in on the BPO boom. Among these metro cities, Metro Cebu in Visayas, is the next preferred site for IT investments, including back office services. In fact, Cebu City is positioning itself as an alternative ICT hub in southern Philippines. Cebu currently hosts 12 call centers.

Not to be outdone, the province of Davao has also opened its doors to BPO investors. Merly Cruz, the trade department's director for Region XI, said two BPO companies engaged in the outsourcing of architecture and graphical services have already set up operations.

Nakayama Technological Corp., one of the biggest BPOs in Mindanao, operates in Digos, Davao del Sur while Menogaya Co. runs it's daily services in Davao city. "The information communications technology has been added to the priority industry in Davao," Cruz said. The incentives offered to investors are a sales tax holiday for four years and free processing of local government taxes and fees such as building and mayor's permits.

To prove that companies in Luzon have taken serious note of the skills of the residents in Mindanao, G-Com Asia Pacific Phil., which is a branch of the Cyber City in Clark, had established call center operations in Davao. "It will also start its legal research outsourcing within the year," Cruz said. Cagayan de Oro, another city in Mindanao is home to Link2Support which recently reported that it would develop an additional 800 square meters. floor area for a total of 500 seats.


---Mio Cusi

Mio Cusi is a senior reporter for the Manila-based BusinessMirror. Currently assigned to cover the macroeconomic beat, he has written numerous articles on the comparative advantage of the Philippines among other Asian countries in relation to BPO services.



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The Philippines' Awesome Outsourcing Opportunity
India's dramatic economic rise this decade, powered by its role as the back office of the world, has developing countries from Argentina to Vietnam scrambling for a piece of the action. With good reason: Researcher Gartner estimates offshore infotech and business-process outsourcing amounted to $34 billion globally in 2005 and could double by 2007.

And the race is on in Eastern Europe, Latin America, China, and Southeast Asia to land jobs and economic growth by answering customer phone calls, managing far-flung computer networks, processing invoices, and writing custom software for multinationals from all over the world.

Though India continues to have a lock on most of this global business, that is starting to change. Even Indian outsourcing powerhouse Infosys (INFY) has started increasing staff in China and the Czech Republic this year, is exploring Latin America, and likely will eventually set up a base in Southeast Asia.

GOLDEN OPPORTUNITY. "Some of the countries like Philippines and Malaysia have done fairly well to leverage their unique skills and carved niches for themselves," said Infosys Chief Executive Officer Nandan M. Nilekani,in Singapore recently attending an International Monetary Fund and World Bank meeting.

Could all of this be a golden opportunity for the Philippines, long regarded as the economic laggard in Asia? This vast archipelago is starting to gain some traction on the outsourcing front. Chennai (India)-based OfficeTiger now has over a hundred people working in Manila on legal outsourcing for clients such as Dupont and expects to have nearly 1,500 by the end of 2007 (see BusinessWeek.com, 9/18/06, "Let's Offshore The Lawyers").

The Philippines raked in offshore service generating revenues of $2.1 billion last year, placing third behind India and China and slightly ahead of Malaysia. That's up 62% over the $1.3 billion it gained in 2004, and a huge increase from the start of the decade when the outsourcing industry in Manila employed just 2,400 people and the industry had revenues of merely $24 million.

LANGUAGE ADVANTAGE. The outsourcing sector currently employs over 200,000 people. That is still way behind India's 750,000, but Manila is catching up fast. The Business Processing Association of Philippines estimates the industry will chalk up 57% growth this year with total revenues of $3.3 billion and is on track to deliver nearly 48% growth in 2007 to $4.9 billion. "Business process outsourcing is one of the fastest growing segments of our economy and a key plank of President Gloria Macapagal Arroyo's strategy to put strong growth drivers in place," says Philippine Cabinet Secretary L. Ricardo Saludo.

Consultancy A.T. Kearney, in its recent ranking of the most desirable global services locations which are competitive for business process outsourcing, ranked the Philippines fourth in the world behind India, China, and Malaysia—a huge change from being outside the top 10 three years ago. Philippines gets high marks for its large, educated talent pool and English language skills, though it lags some of the other locations in infrastructure.

Economists and analysts are startled by the Philippines' runaway growth in the sector. "The pace of development of the BPO [sector] in the Philippines has been impressive," says a recent report by U.S. investment bank Goldman Sachs. "Three years ago there was a question mark whether Philippines could develop some [outsourcing] momentum. Now it's a $3 billion industry."

WHITE COLLAR FORCE. Goldman's report also notes the outsourcing industry has begun to expand beyond the capital Manila into university towns such as Baguio as well as Clark (the former U.S. military base), Cebu, Dumaguete, and Davao. "It is clear that Philippines is now very much on the global map for outsourcing," the Goldman report said.

The recent growth spurt in the outsourcing industry in the Philippines has been fueled not by traditional low-value-added call centers but more higher-end outsourcing such as legal services, Web design, medical transcription, software development, animation, and shared services. Though call centers still form the largest part of the sector, the Philippines has begun leveraging its creative design talent pool, its large pool of lawyers, and its professionals in accounting and finance.

"Philippines as a country offers us a unique talent pool for outsourcing services in legal as well as design services," says Joseph Sigelman, co-president of India-based OfficeTiger, which was acquired by U.S. printing services giant R.R. Donnelley in April. The company chose the Philippines as the springboard for its legal services outsourcing and expects to make Manila the main center for "pre-media" outsourcing work, including desktop publishing, composition, typesetting, and graphic design.

FAMILIAR WITH U.S. Legal services were a natural extension of the outsourcing work the firm has been doing from its base in Chennai for years. "As an ex-American colony, there is cultural affinity and the legal system is based on U.S. law," says Sigelman, a native of New York. "In Manila, every lawyer seems to know what Roe vs. Wade was about. In Chennai, they may have some of the finest legal brains in the world but not everyone has heard about Roe vs. Wade or other key cases in U.S. Supreme Court." Most Filipino lawyers sit for U.S. bar exams and that gives Manila a leg-up over India, China, or Malaysia.

Design work is another place where Filipinos have and edge, according to Sigelman. He says he has found incredible depth of design talent in Manila; the kind of talent that is hard to come by in Bangalore, Hyderabad, or Chennai.

OfficeTiger's clients include large insurance companies, retailers, and publishers of books and directories. OfficeTiger is looking at Philippines operations to provide 40% to 50% of its total annual revenue growth over the next three to five years.

TALENT POACHING. Another factor working in the Philippines' favor is cost. In India, wage costs in outsourcing have risen 15% per annum over the past two years. This rise has outsourcing firms and clients looking for alternatives. With that in mind, the risk for the Philippines is that its relatively low office-rental and labor costs could also start to rise dramatically.

Already, heavy demand for office space, despite a boom in construction of new buildings, is causing upward pressure on rents. Companies that are expanding say costs are starting to escalate fairly rapidly. There are signs of a tight labor market, too. Excessive poaching of talent that was the norm in India a few years ago is becoming common in Manila as well.

New companies are offering "joining bonuses" to the most talented the day they sign up for the job. Many employees are given bonuses for finding new recruits. "It's inevitable that costs will rise but the Philippines is still a very competitive place for the sort of work we are doing," says Sigelman.

MONEY FOR TRAINING. Cabinet Secretary Saludo says the government is focused on developing human capital through education and training to keep a steady supply of talent for the outsourcing sector. Manila is also beefing up the telecommunications infrastructure, he says.

Chasing the outsourcing wave is a smart strategy for an economy such as the Philippines'. Compared with capital-intensive manufacturing, service businesses are cheap to set up, and can generate a hundred times more jobs per dollar invested. President Arroyo recently earmarked $10 million for new trainees in the outsourcing industry. Students interested in outsourcing jobs are given vouchers that can be used for tuition at vocational institutes.

Unless cost escalation gets out of hand or other infrastructure bottlenecks appear, the Business Process Association of Philippines projects that outsourcing in the Philippines could be an $11 billion industry employing 900,000 people by the end of 2010. That will put it close to where India is today. "Five years from now, there could be a lot of countries doing as much as India is doing today," says Infosys CEO Nilekani. "We are just scratching the surface in outsourcing and off-shoring."



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[B]BPO boom fuels real estate rebound in the Philippines!
Foreign business process outsourcing (BPO) companies have been attracted to set up shop in the Philippines due to the presence of a big pool of workers as well as competitive lease prices, according to the Center for International Trade Expositions and Missions (CITEM), the export promotion arm of the Department of Trade and Industry.

"BPO companies are not only on hiring binges, they are also in need of Grade A office spaces," said Trade assistant secretary Fe Agoncillo-Reyes, executive director of CITEM. "For our commercial real estate developers, this strong demand is welcome."

BPO providers and established names like GenPact, e-Telecare, Teletech, IBM Daksh, Dell, and Ericsson Communication contributed to the real estate boom experienced by the Philippines in 2006.

According to a CB Richard Ellis report, a combined total of 120,200 square meters of office spaces have been allocated to new BPO locators in the first semester of 2006 alone and an estimated 60,000 sqm of office spaces have been addded during the rest of the year.

Examples of the buildings that were leased to BPO firms in 2006 were Net Square and Bonifacio Global City developed by 19-1 Realty; EC IT Center in Mandaluyong by Greenfield ; Plaza A, Northgate Cyberzone developed by Filinvest; and Cybergate 1&2 at Mandaluyong developed by Robinsons Land.

A big part of the real estate demand, added Agoncillo-Reyes, is BPO firms who are expanding in Manila .

For 2007, the need for grade A office spaces is being answered by property developers doing "build-to-suit" deals and cyberzones for companies who came to Manila for BPO work.

The following is a list of developments that real estate firms are undertaking to take advantage of the BPO boom:

Ayala Land - UP Science and Tech Park in Quezon City ;
Robinsons Land - Cybergate Zone in Mandaluyong City and Cyberpark in Libis, Quezon City ;
Federal Land – Developments in Bay Area, Pasay City and in ;Bonifacio Global City;
Filinvest Land – Northgate Cyberzone in Alabang;
SM Investments Corporation – Call center facilities near SM Mall of Asia;
Megaworld – Projects in McKinley Hill and Newport City

Some Serendra Pics courtesy of Jun (Thank You!)...:) :) :)
These pictures were taken 2/25. Bonifacio High Street Shops.
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00275.jpg

I'm not sure which section or building of Serendra this is. Let's say the left building as you cross the street from the Bonifacio High Street shops.
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00276.jpg

the right Building
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00277.jpg

the middle area where the two buildings merge and where the shops and restaurants are. if you walk further up these shops and across the street is Market Market.
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00279.jpg

more Serendra
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00273.jpg

Abe restaurant, one of my favorites
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00272-1.jpg

well, you know what's sold here
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00299.jpg


hhmmm...
http://i131.photobucket.com/albums/p294/junof/Manila%202007/DSC00302.jpg

Just went to the Bonifacio High street yesterday. Across B-5 there is ongoing construction of a building. Is this a high rise for office or residential? This is the first high rise for the city center!

3cr
thanks for the pictures,,,appreciate it!

Fresh concepts at BGC
The Philippine STAR 03/02/2007
http://www.philstar.com/philstar/BUSINESS200703086506.htm
The well-heeled urbanite willing to pay the price for premium retail items and one-of-a-kind shopping and dining experiences has found a new retail and dining hub at the city center of Bonifacio Global City. With over 100 outlets – many of which are already open – Bonifacio High Street is already a haven for shoppers who delight in good finds and foodies alike.

Bonifacio High Street’s vibrance does not come merely from its mix of stores but also from a string of other experiences. To wit: a park that is almost a kilometer long and as wide as Ayala Avenue bordered by shops on either side; engaging art work amidst the greenery; as well as the unique synergy offered by offices on top of the shops.

Particularly on Friday and Saturday nights, only those with reservations can get into many of the restaurants on Bonifacio High Street. The restaurants, which opened last year, are found at the ground floor of the Serendra multi-story residential complex. The Serendra retail area adjoins the 40-meter wide boulevard of brand-name anchor stores and corporate spaces amidst the softscape of greens, sculpture and endless sky.

But even if the boulevard of commercial and office spaces has yet to be formally launched, long lines of shoppers patiently waiting their turn to make their purchases in some of the outlets that had already opened were not unusual last Christmas season. Topnotcher was American retail sensation Krispy Kreme which has sold over 400,000 pieces of doughnuts since it opened in November.

The strong pedestrian traffic of Bonifacio High Street and its refreshing concept are now the main draws of this retail haunt. According to Abba Napa, marketing head of Italian steakhouse Balducci, diners at the restaurant, which is one the mainstays of Bonifacio High Street, shot up at the beginning of the year as upscale shoppers and foodies named it a new place to see and to be seen along with other tony restaurants in the area. "Before then, I could always find a seat here for dinner," she says.

Napa, who also owns, All Flip Flops, which sells the most complete line of Havaianas, is pleased at her decision to open her largest store in Bonifacio Global City. The 85 sqm. store dedicated to the premium rubber- slippers line from Brazil has been doing good sales despite the fact that many of its neighboring outlets have not yet opened their doors. The store carries 100 styles of Havaianas with new models being introduced every quarter particularly for collectors who are willing to line up for the latest styles and variations. It is also incidentally the largest Havaianas outlet in the globe.

Just went to the Bonifacio High street yesterday. Across B-5 there is ongoing construction of a building. Is this a high rise for office or residential? This is the first high rise for the city center!

yeah.. I noticed that as well... and I'm also wondering if that is a high rise too... sana nga...

3cr
thanks for the pictures,,,appreciate it!
You're very much welcome Edmund! :) :) :)

You're very much welcome Edmund! :) :) :)

:)

Any updates on the Northern Fort Boni Master Plan? Really excited that HOK which did the original FBGC masterplan is getting the opportunity to finish the job to integrate Northern part of Fort Boni to the rest of Global City. Hope it turns out great! :)

Federal Land to complete master plan for northern part of Fort Bonifacio
Businessworld

Federal Land, Inc. tapped global design firm Hellmuth, Obata & Kassabaum, Inc. (HOK) International Ltd. to complete a master plan to develop the northern part of the Bonifacio Global City in Fort Bonifacio.

In a statement, Federal Land President Alfred Ty said the master plan covering 25 hectares in North Bonifacio is expected to be completed in 15 weeks. It will consist of a 10.4-hectare property owned by the country’s largest lender Metropolitan Bank & Trust Company (Metrobank) and two lots totaling 15.3 hectares of state-owned Bases Conversion and Development Authority (BCDA).

"We are confident that this project will maximize the values of both Metrobank and BCDA properties and ensure the development in North Bonifacio will be aligned with the redesigned concept of the Bonifacio Global City," he added.

Engaging HOK is part of the joint venture between George S.K. Ty-led bank and the BCDA.

Once the master plan is crafted, the BCDA can start the bidding process for its 15.3-hectare properties.

PRIVATIZATION

BCDA Vice-President for Business Development Aileen Zosa said the government is looking at the first quarter of 2007 to bid out and privatize the properties.

HOK International Ltd. provides planning, architecture, interior design, engineering and consulting services in the fields of hospitality, residential, education, health care and corporate facilities. It will be assisted by local planning consultant Environ Systems Groups, Inc. -- Ruby Anne M. Rubio

^^ Yay! Sounds great. Cant wait to see this, HOK's planning is always something to look forward to.

^^ Yup Fort Boni is really booming and not just in the City Center and those in the immediate proximity of Global City. Aside from North Fort Bonifacio, there's also going to be alot of developments in South Fort Bonifacio (beyond McKinley Hill) expected in the near term according to this article below. Very exciting indeed! :) :) :)

Big Developers eye additional Fort Bonifacio properties for expansion!
http://www.philippine-real-estate.info/philippine-real-estate-news/fort-bonifacio-expansion.html

The Philippines' major developers are training their sights on two properties within the government's sprawling Fort Bonifacio reservation. This development came after two court rulings cleared the way for the state-owned Bases Conversion and Development Authority (BCDA) to finalize its development plans.

Top developers like Ayala Land, Inc., Fort Bonifacio Development Corporation, Megaworld Corporation and Robinsons Land are said to have already expressed keen interest in the properties.

BCDA president and CEO Narciso Abaya announced that the two areas --the 35.5-hectare JUSMAG area and the nearby 47.5-hectare Navy Village- are expected to become beehives of economic activity after these are fully developed through a joint venture with a private company.

BCDA vice president for business development Aileen Zosa noted that the properties are "ideal for mixed-use development, with low to medium density, high-end residential units."

Zosa said ALI and FBDC, as well as Megaworld, are keen on acquiring the JUSMAG property as it is strategic to the adjacent properties they are now developing like the Bonifacio Global City and McKinley Hills, respectively.

Abaya added that the AFP will greatly benefit from the development of the properties. Under RA 7917, 35 percent of sale or 50 percent of lease proceeds of Fort Bonifacio property disposed under the stewardship of BCDA will go to the AFP Military Modernization Fund.

"We expect more developers to express their interest once we formally put it up on the market probably next year," Ms. Zosa said.

In a two-page resolution handed down last Nov. 27, the Supreme Court (SC) affirmed its Sept. 22, 2006 verdict and denied with finality the motion for reconsideration filed by the Southside Homeowners' Association Inc. (SHAI).

The SC decision reversed an earlier finding by the Court of Appeals (CA) favoring the SHAI.

Another case, the Court of Appeals (CA) tossed out an earlier judgment by a Regional Trial Court favoring the settlers, and declared as null and void the owner's title in the name of Navy Officers Village Association, Inc. (NOVAI).



__________________________________________




BCDA set to finalize plans for 2 properties in Fort Bonifacio
http://biz.balita.ph/html/article.php/20070118105259230

The state-owned Bases Conversion and Development Authority (BCDA) is set to finalize development plans for two real estate properties within the Fort Bonifacio reservation it has recovered by virtue of two court rulings.

BCDA president and CEO Narciso Abaya announced that the two areas --the 35.5-hectare JUSMAG area and the nearby 47.5-hectare Navy Village- will turn into a beehive of economic activities after they are fully developed through a joint venture with a private company.

Abaya added that the AFP will greatly benefit from the development of the properties. Under RA 7917, 35 percent of sale or 50 percent of lease proceeds of Fort Bonifacio property disposed under the stewardship of BCDA will go to the AFP Military Modernization Fund.

BCDA vice president for business development Aileen Zosa noted that the properties are "ideal for mixed-use development, with low to medium density, high-end residential units."

Zosa said many developers have already expressed interest in acquiring the JUSMAG property.

"Top developers Ayala Land Inc. (ALI), Fort Bonifacio Development Corporation (FBDC), Megaworld and Robinsons Land have already expressed their keen interest in the JUSMAG property," she revealed.

Zosa said ALI and FBDC, as well as Megaworld, are keen on acquiring the JUSMAG property as it is strategic to the adjacent properties they are now developing like the Bonifacio Global City and McKinley Hills, respectively.

"We expect more developers to express their interest once we formally put it up on the market probably next year," Ms. Zosa said.

In a two-page resolution handed down last Nov. 27, the Supreme Court (SC) affirmed its Sept. 22, 2006 verdict and denied with finality the motion for reconsideration filed by the Southside Homeowners' Association Inc. (SHAI).

The SC decision reversed an earlier finding by the Court of Appeals (CA) favoring the SHAI.

Another case, the Court of Appeals (CA) tossed out an earlier judgment by a Regional Trial Court favoring the settlers, and declared as null and void the owner's title in the name of Navy Officers Village Association, Inc. (NOVAI). (PNA)

^^ Yup Fort Boni is really booming and not just in the City Center and those in the immediate proximity of Global City. Aside from North Fort Bonifacio, there's also going to be alot of developments in South Fort Bonifacio (beyond McKinley Hill) expected in the near term according to this article below. Very exciting indeed! :) :) :)


and imo very lucky for the city of taguig!

^^ Definitely! And of course kasama na rin those who believed and invested in Fort Boni as well...:) :) :)

http://img462.imageshack.us/img462/6838/frontpic01bu0.jpg

THIS courtyard at Serendra will be part of Bonifacio High Street, which the FBDC will launch this month as a novel retail and office center composed of a kilometer-long boulevard of greenery lined on both sides by winner stores. It has a gross leasable area of 20,000 sqm and is expected to boost prime lot sales in the Bonifacio Global City. --Rhoy Cobilla

Global City sees 39% revenue rise
STRATEGIC LEASES BY OFFICES, RETAIL LOCATORS TO COMPLEMENT LAND SALES
By Honey Madrilejos-Reyes
Reporter


FORT Bonifacio Development Corp. (FBDC), developer of the cosmopolitan Bonifacio Global City (BGC) in Taguig, expects gross revenues to increase by 39 percent this year to P2.5 billion versus P1.8 billion it posted in 2006.

In a press briefing Monday, FBDC head for commercial operations Aniceto V. Bisnar said the projected growth in revenues will still be boosted by land sales and leases from office and retail locators.

“The properties that will be sold this year will depend on the demand. We always do selective selling. But since we came in April 2003, we have sold 80 lots already or about 122,000 square meters,” he told reporters.

FBDC’s approach is not to entirely sell the lots within BGC but also reserve strategic properties for lease. Among its tenants include HSBC and St. Luke’s Hospital, construction of which is up for completion in 2009.

Four local and foreign hotel operators have also signified interest to put up hotels within BGC, according to Bisnar.

“They are still studying the areas. These can be done either through sale or lease of the lots,” he explained.

At present, lots located at the center of BGC are priced at P145,000 to P185,000 per square meter.

FBDC is spending P1.8 billion this year to continuously develop BGC.
Bisnar said the cost will be funded by land sales and recurring revenues from retail and office rentals.

FBDC, a partnership between Bonifacio Land Corp. (BLC) and the Bases Conversion Development Authority (BCDA), is allocating P8 billion for planned development works in BGC. BLC’s major shareholders are Ayala Land Inc., and Evergreen Holdings Inc. of the Campos family.

The 240-hectare BGC is divided into four segments: the City Center, E-Square, Bonifacio South and Bonifacio Triangle.

City Center serves as a strong anchor within BGC with retail, office, civic and social activities. This month, FBDC is launching the Bonifacio High Street, a novel retail and office center, with a gross leasable area of 20,000 sqm.

Bisnar said the Bonifacio High Street is expected to further prime lot sales in BGC and accelerate the emergence of critical mass.

“With more new shops opening in the retail area, we expect an increase in vehicular and pedestrian traffic. This increased awareness and interest will translate to a greater predisposition to buying property here, whether individual condominium units or commercial lots for development,” he said.

Meanwhile, both E-Square and Bonifacio South are dedicated for residential and mixed-used developments while Bonifacio Triangle will be for mixed-use purposes.

Global City being lined up as next premier CBD

By Zinnia B. Dela Peña
The Philippine Star 03/13/2007
http://www.philstar.com/philstar/NEWS200703130703.htm
Fort Bonifacio Development Corp. (FBDC), a joint venture between the Bases Conversion Development Authority and the Ayala Land-Campos group, is positioning the 240-hectare Bonifacio Global City (BGC) as the country’s next premier central business district (CBD) with gross built-up floor area estimated to reach 1.7 million square meters in the next five years.

FBDC’s head for commercial operations of FBDC Jun B. Bisnar said the company is spending P1.8 billion this year out of the programmed P10 billion capital budget for the continued development of BGC. Last year, it already spent P2 billion for infrastructure development of the former military complex to attract more locators.

He said funding will come from internally generated cash. In fact, FBDC has successfully trimmed its debt to only P300 million from P3 billion in April 2003.

He said a critical mass of commercial, retail, residential, institutional and office developments is fast emerging in the BGC.

Of the projected 1.7 million square meters of floor space, 1.02 million will comprise residential developments, 305,904 square meters for commercial purposes, 212,015 square meters for institutional use, and 159,660 square meters for office space.

Bisnar said over 100 buildings are either completed or in the planning or construction stages in Bonifacio High Street, which forms the center of BGC’s development.

Bonifacio High Street offers a gross leasable area of 26,900 square meters and has over 150 retail shops and restaurants that feature the latest and most novel concepts.

Bisnar expects Bonifacio High Street to further hasten the sale of prime lot sales in BGC and accelerate the emergence of critical mass.

He said the selling price of commercial land in BGC has gone up from just P50,000 per square meter in 2004 to P185,000 per square meter.

Bisnar said the company is in talks with various entities that have expressed interest to buy lots or locate in BGC. Among the prospective locators include a group operating and managing a five-star hotel, and several foreign investor groups eager to make or beef up their presence in the country.

New developments within the former military base include the Hong Kong and Shanghai Banking Corp., office building along 5th Avenue, (expected to be completed this month), the St. Luke’s Medical Center which will house 600 beds and 366 doctors’ offices, the Singapore Embassy and Net3, which will cater to business process outsourcing (BPO) firms.

Bisnar said FBDC is eyeing revenues of P2.5 billion this year or an increase of 39 percent from the P1.8 billion recorded in 2006.

Located at the BGC are upscale residential condominiums such as Essensa, Pacific Plaza and Regent Parkway and office buildings such as Net One and Bonifacio Technology Center. Three more residential buildings — Bonifacio Ridge, One McKinley Place and Penhurst Parkplace — have just been completed, while several more including Fairways Tower, Forbes Town, Fifth Avenue Place and Serendra have begun construction.

Also located at the BGC are international schools, such as International School Manila, Japanese School and British School, among others.

In 2003, Ayala Land Inc. (ALI) and Evergreen Holdings Inc. of the Campos Group purchased from Metro Pacific Corp. a controlling stake in Bonifacio Land Corp., a co-owner in FBDC, which is tasked with the masterplanning of the BGC.

ALI chairman Fernando Zobel de Ayala said the group’s vision for BGC is to transform it into a "dynamic, modern community with a mix of residential and commercial land uses."

so far companies that i have reached a phil. based agent, verizon dhl tech support, american express , direct tv,aol

Ayala unveils plan for Bonifacio Global City

By Daxim Lucas
Inquirer
Last updated 00:47am (Mla time) 03/13/2007

As much as P8 billion will be spent on Bonifacio Global City over the next five years as part of its owner’s plan to accelerate the development of the former military camp amid a property boom.

The ambitious scheme marks a radical departure in form and substance by the Ayala-controlled Fort Bonifacio Develoment Corp. (FBDC) from the plan originally laid down by former owner Metro Pacific Corp., which stalled under the weight of the 1997 East Asian financial crisis.

In a press briefing, an FBDC official said the ultimate aim was to make the 240-hectare property a complementary extension of the Makati business district, developed starting in the 1960s by the Ayala group.

“We have spent almost P2 billion for the project,” said Aniceto Bisnar Jr., head of commercial operations at FBDC. “We will invest another P1.8 billion this year.”

Ayala Land Inc. and Evergreen Holdings of the Campos group acquired majority of Bonifacio Land Corp. from Metro Pacific in 2003 and are now the partners of the government in FBDC.

Under the new plan, more than a hundred buildings will rise in the area, some of which are in the planning stage or under construction.

“In the next five years, we will have a gross built-up floor area of 1.7 million square meters,” Bisnar said.

This will include 159,000 square meters of office space, a million square meters of residential space, 305,000 square meters of commercial and retail space, and 212,000 square meters for institutional locators like schools and hospitals.

The project has gotten off to a flying start with FBDC’s investment of about P1 billion to develop the commercial and retail center of a project called Bonifacio High Street, a commercial stretch of almost a kilometer long, from the Serendra residential condominium buildings to Third Avenue on the west side of the property.

All told, Bonifacio High Street will have a land area of 36 hectares and on average is as wide as Ayala Avenue in the Makati business district.

It offers a gross leasable area of 20,000 square meters and will eventually have about 150 retail shops and restaurants aimed at attracting more human traffic into the area.

Bisnar said Bonifacio High Street would also have office spaces, 90 percent of which are already leased out.

Bisnar also said the new development featured a three-by-three city block scheme, instead of the Metro Pacific plan, which featured concentric streets.

He said studies by urban planners found the Metro Pacific plan to present a “big problem for traffic congestion” and to entail creation of irregularly sized lots that would be difficult to sell or use.

Bisnar added that locators would benefit from an expected drop in water prices with the integration of the local water system with the network of Manila Water Co. Inc., a unit of the Ayala group.

“Before, it used to cost five times as much as Manila Water’s rates,” he said. “We have brought it down to only twice the regular rate, and we expect it to reach parity over time.”

Bisnar added that locators would benefit from an expected drop in water prices with the integration of the local water system with the network of Manila Water Co. Inc., a unit of the Ayala group.

“Before, it used to cost five times as much as Manila Water’s rates,” he said. “We have brought it down to only twice the regular rate, and we expect it to reach parity over time.”


i hope that will not have any effect on the quality of tap water in BGC... it's supposed to be potable

02.09.07

The latest Bonifacio High Street art piece, still in the works...

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_016x.jpg

http://i5.photobucket.com/albums/y195/aaron_ofngol/Photo_020907_015x.jpg

This art piece might have some water feature on it similar to the one at Greenbelt.

Maganda na talaga ang global city

^^^ It looks like an electric fan. :D

This will include 159,000square meters of office space, a million square meters of residential space, 305,000 square meters of commercial and retail space, and 212,000 square meters for institutional locators like schools and hospitals.


hmmm... its like 1 office building for every 5 residentials

Bisnar added that locators would benefit from an expected drop in water prices with the integration of the local water system with the network of Manila Water Co. Inc., a unit of the Ayala group.

“Before, it used to cost five times as much as Manila Water’s rates,” he said. “We have brought it down to only twice the regular rate, and we expect it to reach parity over time.”

i hope that will not have any effect on the quality of tap water in BGC... it's supposed to be potable

^^ Yehey! Finally there is confirmation water rates in Fort Bonifacio will be headed downward. I don't think water quality will suffer because of this tie-up, just economies of scale. Very Good News indeed! :) :) :)

PSE, Ayala Land to build unified exchange in Ft. Boni
BY LIZA REYES
http://www.abs-cbnnews.com/storypage.aspx?StoryId=70153
The Philippine Stock Exchange (PSE) said on Thursday that its board has authorized the management to enter into a memorandum of understanding with two property developers for a joint development of the bourse's headquarters in Fort Bonifacio in Taguig City.

In a disclosure, the PSE said it will enter into a preliminary agreement with the country's top developer Ayala Land Inc. and Fort Bonifacio Development Corp.

"The proposed contribution of PSE in the said project is the full market value of the lot owned by Crescent West Development Corp., whose shares of stock are being donated to PSE over several tranches," the PSE said.

The plan to move to a modern headquarters, which will feature a unified trading floor, has been delayed for almost a decade, due to politicking at the PSE board level.



The PSE currently operates two trading floors in the capital -- one in Makati City and another in Pasig.



PSE president Francis Lim earlier told ABS-CBN the management was studying the option of swapping the PSE property in favor of a better location on Fifth Street at the Fort.



"Our target is to have a unified exchange by 2010. I hope that will happen given this new development," Lim said

^^ YES! great news for BGC!! :okay:


which part of crescent west exactly is this going to be?

Sino ba ang expert sa zoning ng BGC?.. Share naman kung saan most likely tatayo ito noh!

Yehey Great News indeed! Looks like the next stage in FBGC's evolution into a real full blown CBD is finally in the works. Anybody knows if the alternative Unified Trading floor location on 5th Avenue is the same lot/location (Institutional Row) in Fort Boni along 5th Avenue that was originally reserved for them? :) :) :)

PSE, Ayala Land to build unified exchange in Ft. Boni
The Philippine Stock Exchange (PSE) said on Thursday that its board has authorized the management to enter into a memorandum of understanding with two property developers for a joint development of the bourse's headquarters in Fort Bonifacio in Taguig City.

In a disclosure, the PSE said it will enter into a preliminary agreement with the country's top developer Ayala Land Inc. and Fort Bonifacio Development Corp.

"The proposed contribution of PSE in the said project is the full market value of the lot owned by Crescent West Development Corp., whose shares of stock are being donated to PSE over several tranches," the PSE said.

The plan to move to a modern headquarters, which will feature a unified trading floor, has been delayed for almost a decade, due to politicking at the PSE board level.

The PSE currently operates two trading floors in the capital -- one in Makati City and another in Pasig.

PSE president Francis Lim earlier told ABS-CBN the management was studying the option of swapping the PSE property in favor of a better location on Fifth Street at the Fort.

"Our target is to have a unified exchange by 2010. I hope that will happen given this new development," Lim said

^^ YES! great news for BGC!! :okay:


which part of crescent west exactly is this going to be?

Sino ba ang expert sa zoning ng BGC?.. Share naman kung saan most likely tatayo ito noh!

The article mentioned 5th Street. I think it meant 5th Avenue. Meron bang 5th Street sa BGC? Does this mean Capital Place is still alive? Di ba sa Capital Place nila plan to house the stock exchange sa BGC?

Great news indeed! :banana: