[ Malaya.com.ph ] September 8, 2010
Ayala Land Inc. and the Campos Group have agreed to fork out P500 million to fund the construction of access roads within Fort Bonifacio.
Narciso Abaya, president and chief executive officer of the Bases Conversion Development Authority (BCDA) said the agency plans to facilitate the construction of two major infrastructure projects in partnership with the Ayala Land, Inc. and the Campos Group.
Abaya said the cost, estimated at P500 million, will be shouldered by the private sector.
The twin projects are expected to improve access from Bonifacio Global City to the eastern, northern and southern areas of Metro Manila and vice versa.
No details were available at press time as officials familiar with the projects were in a board meeting.
ALI and the Campos groups through Evergreen Holdings Inc. have a controlling interest in Fort Bonifacio Development Corp. (FBDC), the corporate vehicle tasked to develop the Bonifacio Global City.
ALI has a track record of creating and sustaining successful business districts and large-scale integrated communities, including the Makati central business district.
The Campos Group has real estate expertise and financial muscle. It has various property developments in the Edsa-Central area as well as in Laguna.
BCDA is partner in FBDC being the landowner of the former military camp.
Bonifacio Global City is a 240-hectare world-class business district at the heart of Taguig City.
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