Question & AnswerQ&A (PROCLAMATION NO. 1276)
Proclamation No. 1276 is based on Republic Act No. 7916, known as the Special Economic Zone Act of 1995, as amended by Republic Act No. 8748.
The President of the Philippines has the authority to create and designate buildings as Information Technology Centers upon recommendation by the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The building designated as an Information Technology Center is known as the Twenty-five Seven McKinley, located at 7th Avenue corner 25th Street, Bonifacio Global City, Fort Bonifacio, Taguig City.
The building has a gross floor area of 34,382.44 square meters and sits on a parcel of land measuring 1,600 square meters, more or less.
The property is defined by technical description on Lot 4, Block 7 of consolidation subdivision plan Pcs-00-007928, TCT No. 164-2015000586, with detailed boundary bearings and points, as surveyed and approved in 1997.
The designation is subject to the provisions of RA No. 7916 as amended, its Implementing Rules and Regulations, PEZA Resolution No. 00-411 (s. 2000), as amended by Resolutions No. 11-066 (s. 2011), 15-240 (s. 2015), and 15-163 (s. 2015).
The Board of Directors of the Philippine Economic Zone Authority (PEZA) recommends buildings for such designation.
The proclamation legally creates and designates the building as an Information Technology Center, making it subject to incentives and regulations under the Special Economic Zone Act and PEZA rules.
The boundaries are described using bearings and measurements in relation to adjacent lots and reserved access and road lots as indicated in the consolidation subdivision plan.
The President officially issues the proclamation creating and designating the building as an Information Technology Center and affixes the seal of the Republic of the Philippines to give it legal effect.