BCDA turns over lot to Ayala Land

Property and real estate conglomerate Ayala Land, Inc. (ALI) and the Bases Conversion Development Authority (BCDA) recently signed the Lot B Turnover Agreement at the Oakwood Premier, effectively turning over the 12-hectare gross lot area in Bonifacio Global City to ALI. This concludes the early stages of the project, which started with the acquisition of the land in 2002.

The formal turnover of Lot B for development by ALI signifies the start of one of the highly anticipated real estate projects in the country.

Signatories were ALI senior vice presidents (SVP) Angela dV. Lacson and Tristan B. Dela Rosa and BCDA chairman Rufo Colayco. Present during the momentous occasion were Atty. Felipe Velasco of Development Bank of the Philippines-Trust and BCDA representatives Aileen Zosa, Hedda Rulona and Dean Santiago.

Instead of an overly dense development of concrete and steel, ALI will develop Lot B into a fully integrated residential haven where sixty-five percent of open space is reserved for greenery and adequate landscaping. A pleasant blend of East and West, the project is built upon a master plan that is European, imbibing the culture’s penchant for low-density, low to mid-rise structures, and its respect for human spaces. At the same time it has building designs, unit layouts and interiors that serve the Filipino’s temper, environment, culture, lifestyle and needs.

Just minutes away from the Makati Central Business District and in the proximity of other business, commercial and recreational centers, the project is expected to provide the conveniences of living in the city while giving residents an opportunity to enjoy nature’s myriad blessings. Its strategic location will substantially cut down hours spent on the road, affording individuals and families generous quality time.

The development, which will be jointly undertaken by ALI and Community Innovations, Inc. (CII), caters to a broad market segment ranging from young professionals, young families, business executives to retirees.

The formal signing is an implementation of the Joint Development Agreement signed by both parties on April 14, 2003 and which has since been approved by the Office of Government Corporate Counsel (OGCC) under the Department of Justice (DOJ).