May car ban na sa Fort!!

**Mguy** · August 7th, 2013 11:39 AM

Originally Posted by madduck

BGC is privately owned right? so that means they may or may not implement the number coding scheme

Ayala is also privately owned but they implement the number coding scheme. Once the local government agrees to take over the traffic chores, that will be the start. Currently, the owners of BGC provide for their own traffic team consisting of security guards.

**madduck** · August 7th, 2013 11:43 AM

yes, but it's logical to have number coding in Ayala because every adjacent areas are implementing the coding scheme, vehicles may get stuck there if they don't implement it. for BGC, there's no coding scheme in taguig.

**Monseratto** · August 7th, 2013 11:47 AM

Tataas rin ang taxes for businesses...

Makati’s boon, Taguig’s bane
Published on Wednesday, 07 August 2013 00:00 Written by IRMA ISIP

The ruling of the Court of Appeals (CA) ruling Fort Bonifacio as part of Makati territory is a boon to the premiere city but a bane to business operating in Bonifacio Global City (BGC).

The CA decision will force BGC businessmen to pay the tax that Makati collects.

Businesses in BGC pay property and business taxes 30 to 40 percent lower than the rates charged in Makati.

Property analysts said the lower tax rate in BGC was intended to attract business establishments to the area. The lower rate was effective from 2005, come-on of BGC as a location for businesses since it started development in 2005.

The tax collection from BGC, being a part of Makati, will make the premier cityeven richer. Its income averages P11 billion a year.

Melito Salazar Jr., president of the Management Association of the Philippines, said that with BGC as a part of Makati, would create two business districts in one city. Salazar said that the competitiveness of BGC enhanced with a lower tax rated will be wiped out.

Salazar said the “fight” over jurisdiction between the two local government units, Makati and Taguig, may pose a concern on businesses.

“We would want issues like this to be resolved speedily even if the local governments involved are both business-friendly,” Salazar said hinting at a possible elevation of the dispute to the Supreme Court.

Karlo Pobre, analyst at Colliers, said the two business districts can prosper on their own.

“There is a 30 to 40 percent tax discount in Taguig. And that has been the sole consideration of businesses locating in BGC, Pobre explained. If Makati takes ownership of BGC, (tax) would be a big consideration,” said Pobre.

Nonetheless, as of the second quarter this year, it was the lack of new buildings in Makati that also attracted business to BGC. In fact, Pobre said, some establishments in Makati transferred to BGC for rental reasons.

Pobre BGC still has more vacant office spaces to offer to business. In fact Pobre said 35 percent of total new spaces are in BGC.

A Fort Bonifacio has 230,000 sqm incoming supply for 2013; 150,000 sqm next year and another 150,000 sqm in 2014.

Makati has only about 74,000 sqm in new spaces this year.

Pobre said lease rates for Grade A office space in BGC and Makati are at P756 and P745 per square meter per month, respectively. However, only Makati offers premium spaces with average lease rates of P850 to P1,200 per sqm per month.

These are the likes of RCBC Towers, Tower One, Enterprise Building, and Zuellig Building, among others.

Technically,has an area of 240 hectares and is located within the 400-hectare Fort Bonifacio, which also covers the area across C-5 where some residential developments of DMCI and SM Development are located.

BGC is the property being developed by Fort Bonifacio Development Corp., a joint venture of BCDA with the consortium of Ayala Land Inc. and Evergreen Holdings.