The Makati central business district (CBD) is still the country’s undisputed primary corporate center, but there is no denying the fact that it is showing its age in some parts.
This partly explains why other urban developments such as nearby Bonifacio Global City in Taguig City are getting a fair share of new and exciting office, residential and leisure developments.
But no reason for those heavily invested in Makati to fret, as plans are said to be under way to lift a number of building restrictions attached to property deeds in the busy financial and commercial zone, Biz Buzz sources say.
Article continues after this advertisementREAD: Makati CBD: A people-centric masterplanned district
FEATURED STORIES BUSINESS BIZ BUZZ: Makati CBD deed restrictions on way out BUSINESS UK backs third Heathrow runway in growth takeoff bid BUSINESS Canada central bank cuts key interest rate to 3.0%These regulations restrict the way land can be used, as well as what can be built on them and activities that can be undertaken while on the premises.
Once these are removed, property owners are expected to be able to unlock more value out of their assets and address current needs, such as for taller, more environment-friendly skyscrapers in specific locations that are currently covered by height restrictions.
Article continues after this advertisementLater, the Makati City government will have to come in to also update its zoning rules.
Article continues after this advertisementThe Makati Central Estate Association Inc., of which main Makati CBD developer Ayala Land Inc. is a member, will necessarily have to be involved in the process.
Article continues after this advertisementAnd if all goes according to plan, Biz Buzz sources say the deed restrictions may be lifted as early as May this year.
With that, the entire business district would be able to keep up with the changing times and thus maintain its long-held title as “the most desirable business and commercial area in the Philippines.” —Tina Arceo-Dumlao
Article continues after this advertisement DA unfazed by delaysIt’s been delay upon delay but the Department of Agriculture (DA) remains committed to finishing the construction of the country’s first border facility by June this year.
Agriculture Secretary Francisco Tiu Laurel Jr. said that a failed bidding stalled the development of the cold examination facility in agriculture (Cefa) in Angat, Bulacan, which was initially targeted to be completed by early 2025.
“The problem with Cefa is a failed bidding last December,” Tiu Laurel said. “But definitely, we will try to finish everything by hopefully first half.”
free slots with bonus and free spinsEquipped with state-of-the-art testing laboratories, the Cefa is a sanitary/phytosanitary inspection facility designed to thoroughly inspect imported animals, fish, plants and other agricultural products.
Having such a facility is expected to strengthen the country’s capability to conduct first border inspections to help keep animal diseases at bay and ensure that imported agricultural commodities are safe for human consumption.
But because of the setback last December, a portion of the budget for the Cefa facility in Bulacan was reverted to the government.
The DA is still keen on building the Cefa in Angat but Tiu Laurel said the completion schedule has to be moved back since they have to again go through the bidding process.
Data released by the BSP on Tuesday showed the public sector’s foreign borrowings from July to September this year went up by 36 percent from the $2.81 billion in the same period last year.
The question is … Will the DA finally be able to clear the roadblocks and have its first Cefa, which has been in the agency’s pipeline for years?
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Let’s see if Tiu Laurel will have enough resolveoogbet, grit and determination to see it through. —Jordeene B. Lagare
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