Location and Property Description
- The IT Center is located at Lot 6, Block 1, 5th Avenue, Bonifacio Global City, Taguig City.
- The land area is approximately 2,155 square meters.
- The description includes detailed technical boundaries, plan references, and neighboring lots to precisely define the property.
- The property sits within the private domain and the jurisdiction of the Municipality of Taguig, Metro Manila.
Governing Regulations and Framework
- The proclamation aligns with the Special Economic Zone Act of 1995 (RA No. 7916) and its amendments.
- The designation adheres to PEZA Board directives, including Resolution No. 00-411 (S. 2000) and Resolution No. 11-448 (S. 2011).
- These rules govern the operation and benefits of the IT Center within the economic zone framework.
Effects and Implications of Designation
- The building and parcel designated as an IT Center may avail of incentives and privileges provided under PEZA and RA 7916.
- Encourages investment and development of information technology industries within the designated area.
- Affirms compliance with required survey and technical standards for land registration and boundary definition.
Procedural Aspects
- The proclamation follows the recommendation of PEZA’s Board of Directors.
- Official survey data dated from 1907 and updated surveys in 2006 validate the land boundaries.
- The Executive Secretary officially promulgates the proclamation under the President's authority.
Formalization and Legal Effect
- The Proclamation is signed by the President and sealed by the Republic of the Philippines.
- Establishes the legal basis for the building and land's use and status as an IT Center.
- Serves as authoritative documentation for government agencies, investors, and developers regarding the property's status.