Question & AnswerQ&A (PROCLAMATION NO. 483)
The building and land are declared a Special Economic Zone under Republic Act No. 7916, also 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 Special Economic Zones upon recommendation by the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The building One Griffinstone has a gross floor area of approximately 44,200.15 square meters, and the parcel of land measures approximately 2,552 square meters.
The designated Special Economic Zone is subject to the provisions of RA No. 7916 as amended, the Implementing Rules and Regulations, Resolution No. 00-411 (s. 2000) as amended by Resolutions Nos. 11-066 (s. 2011), 15-240 (s. 2015), 17-472 (s. 2017), and Resolution No. 16-588 (s. 2018) of the PEZA Board of Directors.
The technical description provides the exact location, boundaries, and area measurements of the land parcel designated as a Special Economic Zone, ensuring legal clarity and precision in the designation.
The recommendation of the Board of Directors of the Philippine Economic Zone Authority (PEZA) was considered in the issuance of the proclamation.
The One Griffinstone building is located at Lot 7, Block 5, Commerce Avenue corner Spectrum, Filinvest Corporate City, Alabang, Muntinlupa City, Metro Manila.
President Rodrigo Roa Duterte signed Proclamation No. 483 pursuant to the powers vested in him under Republic Act No. 7916, the Special Economic Zone Act of 1995, as amended by RA No. 8748.
Designating a property as a Special Economic Zone grants it special incentives and benefits under Philippine law to promote economic activities, including tax holidays, simplified import/export procedures, and support for technology enterprises.