Question & AnswerQ&A (PROCLAMATION NO. 900)
The designation is pursuant to Republic Act No. 7916, known as the Special Economic Zone Act of 1995, as amended by Republic Act No. 8748.
The Board of Directors of the Philippine Economic Zone Authority (PEZA) made the recommendation.
The President of the Republic of the Philippines has the authority to create and designate such zones or buildings under Republic Act No. 7916 as amended.
The UnionBank Plaza stands on a 2,093-square meter lot located along Meralco Avenue Corners Onyx and Sapphire Streets, Ortigas Center, Oranbo, Pasig City, bounded by various road lots and adjacent lots as described in technical survey terms in the proclamation.
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 03-348.
The proclamation officially creates the UnionBank Plaza as an Information Technology Building, making it eligible for incentives and benefits under the Special Economic Zone Act and applicable PEZA rules.
It is described by its technical survey description, including lot and block numbers, subdivision plan reference (PSD-105493), and specific metes and bounds with points and bearings.
The land is identified under Transfer Certificate of Title (TCT) No. 492675.
The Executive Secretary certifies the proclamation by signing it on behalf of the President, thereby making it official.