Question & AnswerQ&A (EXECUTIVE ORDER NO. 239)
The designation is made under the powers vested by Republic Act No. 7916, the Special Economic Zone Act of 1995, as amended by Republic Act No. 8748.
The recommendation was made by the Board of Directors of the Philippine Economic Zone Authority (PEZA).
The building stands on a 5,868-square meter lot, more or less.
It is situated along Ayala Avenue corner Salcedo Street, Barangay San Lorenzo, Makati City, Metro Manila, Island of Luzon.
The designation is subject to the provisions of Republic Act No. 7916 as amended, its Implementing Rules and Regulations, and PEZA Board Resolutions Nos. 00-411 and 04-279 dated December 29, 2000 and September 6, 2004, respectively.
Republic Act No. 7916 is the Special Economic Zone Act of 1995 which governs the establishment, operation, and management of special economic zones in the Philippines.
Designating a building as an Information Technology Building under RA 7916 confers certain benefits and incentives consistent with special economic zone status to promote IT-related investments and activities.
The land is described as Lots 1, 3-A, 4-A & 5-A Pcn-00-001230, a consolidation of various lots in Barangay San Lorenzo, Makati City, bounded by adjacent lots and street lots per survey plans approved in 2004.
The proclamation was done on July 5, 2005, as indicated by the signing date and seal of the Republic.
Executive Secretary Eduardo R. Ermita signed the proclamation by authority of the President.