Megaworld, BCDA ink deal for Taguig propertyhome/Business/Corporate News/Megaworld, BCDA ink deal for Taguig propertyLISTED Megaworld Corp. and state-run Bases Conversion and Development Authority (BCDA) signed an agreement on Thursday to rebrand a 160-hectare piece of property in Taguig City as the “Bonifacio Capital District.”The area covers two Megaworld townships, the 54.3-ha McKinley Hill and 34.5-ha McKinley West; the BCDA’s 26-ha Philippine Navy Village; the 33.1-ha Bonifacio South Pointe, developed in partnership with the SM Group; the 10.1-ha Consular property beside McKinley West; and a 1-ha BCDA lot. Bonifacio Capital is envisioned to rival Bonifacio Global City. Megaworld and BCDA will craft a masterplan and establish a policy review board that will set development policies and restrictions. Of the 160 ha, Tan said, 88 have been transformed by Megaworld into property developments; the rest, by BCDA. Megaworld and BCDA will construct six-lane roads and bicycle lanes to help decongest the area.

Source: Manila Times March 14, 2019 16:18 UTC