Bonifacio Global City (BGC) is now one of the Philippines’ most valuable developments with 7.8 million of the planned 12 million square meters of GFA already completed. It has emerged as the country’s second-largest Central Business District (CBD) with its significant contribution in the country’s growth in the IT and professional service sectors. It is home to different prime retail and residential facilities as well as five-star and business hotels.
The development of BGC started after Metro Pacific acquired a 150-hectare site and was handled by Fort Bonifacio Development Corporation (FBDC). It was the country’s first successful Public-Private Partnership (PPP). In order to achieve the goal to build a world-class CBD, Metro Pacific and Partners created an ambitious master plan and invested in foreign expertise to guide them through the initial planning process. Though the first few years of operations of FBDC went smoothly, financial constraints eventually forced Metro Pacific to sell their controlling interest to Ayala Land Inc. (ALI), and Evergreen Holdings Inc. (EHI). Together, they took over the FBDC’s 55 percent stake.
From here FBDC significantly made revisions in the original master plan such as the replacement of the original concentric street network in BGC’s city centre with a grid-based system. Starting 2007, FCDC also prioritised development of a kilometer-long retail and lifestyle boulevard that would feature brand stores and food and beverage outlets set in a vibrant park with interactive artworks, more popularly known as Bonifacio High Street.
The four key goals of the development are thus:
- Invest in a neighborhood
- A city that works
- Designed for people, with open space and active street life prioritised
- A city with a soul
The growth of BGC has been so rapid and now has over 7.8 nearly 8 million square meters and office use. Having nine international schools, two five-star hotels, three business hotels, and a 630-bed high-quality hospital, retail shopping centers, urban parks and sporting facilities, BGC has become a highly functional “work, live, and play” community.
With another 4 million square metres of GFA yet to be developed, FBDC’s plan continues to evolve and adapt to the changing needs of a young, dynamic market. A number of workers’ co-living dormitories have been newly built for young professionals, implementation of a Bus Rapid Transit (BRT) system is being evaluated as well as an interceptor parking lot at key road entry points, and the creation of a one-way street system. In the next few years, the government’s plan is to connect BGC to other key population centres in Metro Manila through the country’s first subway line.
Some important lessons to learn from the long years of continuous growth of the BGC Project:
- Secure sufficient long-term funding in line with the life of the development plan
- Ensure the participation of people with relevant experience and expertise in key areas
- the plan must be able to adapt to necessary changes in a timely manner when macro environment changes
- avoid overly-relying on completion of planned government mega projects like mass rail transit and plan for less expensive and practical alternatives
It is without a doubt that the creation and evolution of BGC-a large, successful, high-density, mixed-use, master-planned community- is a major achievement for a developing country which until recently had a limited number of large-scale development projects.
