Fort Bonifacio Development Corp. (FBDC) recently announced the sale of a 1,677 square-meter commercial lot along 32nd street, known as the Retail Avenue, to Philippine Allied Enterprises (PAE), distributor of Bridgestone Tires, for P167 million.
PAE will construct an ultra-modern tire service center on the said property complete with a showroom and customer service facilities for its largely AB customer market.
Vicente Tinsay, FBDC senior vice president for commercial operations, said the sale proved that the former military facility remains an attractive site for big retailers.
"We are pleased that our efforts at revitalizing the Bonifacio Global City are realizing success in attracting a wide variety of new retail developers," he said. "Our vision for retail development is very focused – attract a diversified mix of retailers, for a variety of economic classes, with unique concepts, and our recent land sale to Philippine Allied is an excellent example of this strategy."
The new Bridgestone Tire Service Center will join other locators who already enjoy brisk business along the Retail Avenue. Among them are the United States’ PriceSmart membership shopping club, Shell, Jollibee, Starbucks, Hen Lin, Japas, Kameraworld, Ralph’s Liquor Store and Le Creperie.
In addition, nearly 20 new food and beverage outlets are expected to be open by yearend in the same vicinity. They would include MC Home Depot, Pizza Hut, Chowking, Delifrance, Phobac, Nach-O-Fast, Westlake, Bacolod Chicken and Cucina.
"For potential retailers, as well as our current ones, they realize that the Bonifacio Global City is being built according to a strict masterplan which standardizes quality, provides the highest infrastructure of any municipality in the Philippines, and will emerge as Metro Manila’s most dynamic retail district," Tinsay said.