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THE Makati Central Business District (CBD) is up for
rezoning as the city government proposed that it include the Century
Properties project in the district.
In a statement, Century
Properties said the Makati City government would include the Century
City that will rise from the former International School (IS) lot
owned by the government in the rezoned CBD.
“In the past, the Makati CBD
was limited to the confines of the Makati Golden Triangle. Today it
has considerably grown and its further expansion through the
city’s rezoning efforts will be a welcome development to the
country’s equally growing business sector,” Ambassador Jose E.B.
Antonio, special envoy to China and Century Properties chairman,
said.
The Makati Golden Triangle covers
an area of prime real estate in the heart of Makati, bounded by
Ayala Avenue, Makati Avenue and Sen. Gil Puyat Avenue (formerly
Buendia). Under the city’s current Comprehensive Zoning Ordinance,
the Makati CBD covers subzones in barangays Bel Air, San Lorenzo and
Urdaneta that has an aggregate land area of 530.67 hectares with a
population of 42,000 or 5,326 households.
With the development of the
48,832-square-meter lot on Kalayaan Avenue, the city government
found it necessary to expand the CBD and implement it through a new
comprehensive zoning ordinance.
The proposed amendments are still
being reviewed by the Makati City Zoning Review Committee and
subject to Housing and Land Use Regulatory Board approval.
The ordinance that expands the
CBD is expected to be passed in July.
Earlier, Century Properties
announced it would be building an IT park, residential and
commercial properties and a high-end hotel for a minimum of 160,000
square meters of Grade A office space in the old IS property.
The IT park, the company said,
will cater to the business process outsourcing sector, particularly
the high-end firms. Antonio said the company is applying for
Philippine Economic Zone Authority accreditation.
-- Likha C. Cuevas
Clarification: Century City is a 3.4 hectare development within the former International School of Manila ("Property") consisting of 4.8 hectares. Picar Holdings Inc. owns 1.3 hectares of the property and has the exclusive right to build a hotel.
For more information, please click on http://www.centurycity.com.ph/update.pdf.
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