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Property developers are looking for new sites to replicate the success of BGC.
With Bonifacio Global City (BGC) arguably being the most popular mixed-use township in Metro Manila in recent years, possibly even the entire Philippines, questions continue to arise as to which places would be able to replicate its success.
In this edition of Lamudi Q&A, we explore several developments in the Philippines that have the makings of the next BGC.
There are a number of developments that seem to be following the blueprint of BGC, but so far there are only a handful of projects that are seemingly able to match both its being multi-faceted and the amount of total land area the modern district has.
Arca South
Situated on the former Food Terminal Incorporated (FTI) complex in Taguig, Arca South is a 74-hectare mixed-use project owned by Ayala Land, Inc. Projected to complete its first phase in a little under five years, the development is meant for commercial, industrial, and residential use.
It is located beside the future Integrated Transportation System (ITS), a central station planned by the Department of Transportation and Communication for provincial buses going to and from Laguna, Batangas, Quezon and the Bicol Region.
Along with the various residential and commercial structures that is expected to rise in Arca South, the development will also make room for a green corridor projected to be around 30–60 meters wide, which will occupy 40 percent of Arca South’s total land area.
Iloilo Business Park
The Iloilo Business Park (IBP) is a 72-hectare mixed-use community development in Mandurriao, Iloilo City. A project by Megaworld Corporation, it is situated on what used to be the city’s local airport, land that was purchased from the government by the developer.
Their concept of “live-work-learn-play” is evident in the development’s IT park, which is the largest Megaworld has developed to date. IBP will also be home to several hotels, a shopping mall, and a convention center, while residential projects already launched in IBP include One Madison Place Luxury Residences, Lafayette Park Square, and The Palladium.
Vertis North
This project, a joint venture between Ayala Land and the National Housing Authority covering an area of 29.18 hectares, is dubbed as Quezon City’s first true business district. According to its website, the project is projected to have a total gross floor area (GFA) of about 2 million sqm across condo high-rises, malls, hotels, and office towers, which is about two-thirds of BGC current total built-up GFA. Ayala Land subsidiaries Alveo and Avida have already began construction of their residential condos in Vertis North. The entire project is expected to be completed within the next 10 to 15 years.
Mactan Newtown
The first major township development in Lapu-Lapu City, Megworld’s Mactan Newtown combines office towers, condominiums, leisure amenities, retail shops, a school supervised by the Lasallian Schools Supervision Office, and upscale hotels. Although not as large as other township projects (total land area is 28.8 hectares), Mactan Newtown is quite unique in the fact that it is close to Mactan Island’s white-sand beaches. The company has already opened within the project One World Center, an office building catering to BPO companies, and launched three condos: One Pacific Residences, 8 Newtown Boulevard, and Manchester Place.
