RLC Set to Develop the Bonifacio Capital District in Taguig City
Gokongwei-led property giant Robinsons Land Corp. (RLC) has set in stone its partnership with the Bases Conversion and Development Authority (BCDA) to build another sprawling community within Taguig, leveraging on upcoming infrastructure projects that would boost access to the city to drive growth.
RLC on Tuesday announced that it had inked a memorandum of agreement with the BCDA to develop a 61,761-square-meter property in Taguig into Bonifacio Capital District, which will house residential, commercial, office, hotel and recreational spaces.
“Robinsons Land is committed to doing our part in nation building as we create sustainable, innovative, and dynamic spaces that enhance the quality of life for the communities we serve,” RLC senior vice president Mybelle Aragon-GoBio said in a statement.
READ: RLC, BCDA to build new ‘district’ in Taguig
Bonifacio Capital District will stand near major thoroughfares, including Lawton Avenue, Chino Roces Extension and the South Luzon Expressway.
According to RLC, the Metro Manila Subway, the 33-kilometer underground railway project of the Department of Transportation, is among the key infrastructure projects that will help boost foot traffic in the area through the Lawton station.
The upcoming Bonifacio South Main Boulevard will likewise border the northern perimeter of the property, according to RLC.
Bonifacio Capital District is another major community to be developed within Taguig after Fort Bonifacio, a former military base that was officially converted by the Ayala Group and the BCDA into what is now known as Bonifacio Global City (BGC).
“This landmark project is part of the BCDA’s initiative to create sustainable communities for businesses, residents, and commuters, while also maximizing our assets’ economic potential,” BCDA president and CEO Joshua Bingcang said.
This is one of the new major undertakings of the government agency tasked with developing former military bases.
Earlier this year, the BCDA said a 10-hectare (ha) area worth around P100 billion within BGC was up for grabs.
READ: BCDA still finalizing plans to re-develop Market! Market!
Bingcang recently told the Inquirer that Japanese conglomerates Mitsubishi and Marubeni were among those interested in the area that houses the Ayala Market! Market! mall, which occupies a 5-ha area.
According to Bingcang, another 5-ha open space where the subway station will be built is the first to be auctioned off in 2026.
The terms of reference will be finalized next year, he said.
Data from the BCDA show that BGC raked in P4.4 billion in revenues last year, up by 27 percent versus 2022. INQ