‘BCDA will redevelop BGC assets’

AYALA OWNED mall Market! Market! will be up for redevelopment as the area will be part of the planned “transitoriented development” surrounding the Metro Manila Subway stations in Bonifacio Global City (BGC).

State-owned firm Bases Conversion and Development Authority (BCDA) also said during a recent forum held in Pampanga that it intends to get the “maximum value” for the property. “Market! Market! land will be up for redevelopment. So, it will be a mixed-use (property). It is our single last big property in BGC and we want to make sure once we redevelop it we’ll get the maximum value for the property,” BCDA President and CEO Joshua Bingcang told reporters on the sidelines of the One Clark Forum organized by the staterun firm and the Economic Journalists Association of the Philippines.

Bingcang said the lease for the land of the Ayala-owned mall will end in 2027. “And two years before, which is next year, we will start the disposition of the Market! Market! area,” he said. “Of course, Ayala can still participate in the redevelopment.”

The Ayala-owned mall that stands on a 10-hectare land, however, is just part of the proposed transit-oriented development located within BGC. Apart from this, Bingcang said the BCDA also has properties in Navy village, a sixhectare development across the Senate Headquarters in BGC which will also be converted into a mixeduse development.