THE Bases Conversion and Development Authority (BCDA) has announced that the Market! Market! site in Bonifacio Global City (BGC) is set for disposal and redevelopment once its lease ends in 2027.
According to taguigeno.com, BCDA President and Chief Executive Officer Joshua M. Bingcang shared these plans during the One Clark Forum, organized by the BCDA and the Economic Journalists Association of the Philippines.
“The Market! Market! land will be redeveloped, and it will be mixed-use,” Bingcang stated. He emphasized the strategic importance of the 10-hectare semi-open air retail site managed by Ayala Land Inc., describing it as BCDA’s last significant property in BGC. “We want to make sure that once we redevelop it, we’ll get the maximum value for the property,” he added.
The redevelopment will be undertaken through a public-private partnership. “Right now, the lease is with Ayala, and of course Ayala can still participate in the redevelopment,” Bingcang noted, suggesting that the current managers of the property may continue to play a role in its future.
In addition to the redevelopment plans, a new subway station BGC Station, is slated to be constructed near Market! Market! as part of the Metro Manila Subway project. This station is expected to be completed in 2029, enhancing the area’s connectivity and further boosting its value as a mixed-use development.
The transformation of Market! Market! aligns with BGC’s broader vision of a transit-oriented development, promising to integrate retail, residential, and commercial spaces in a prime urban setting.
taguigeno.com
