Law Summary
Designation and Purpose
- The building located at 6750 Ayala Avenue, Barangay San Lorenzo, Makati City, Metro Manila, is officially designated as an Information Technology Building.
- This designation aligns with the framework for special economic zones promoting IT-related activities.
Property Description and Technical Boundaries
- The designated property is a building covering approximately 247,151 square meters.
- The site stands on a 4,759-square-meter lot, a portion of Lot 1 of subdivision plan Psd-00-041503.
- The property is located in Barangay San Lorenzo, Makati City, Island of Luzon.
- Detailed metes and bounds are specified, describing the exact perimeter with reference points, adjacent lots, roads (Ayala Avenue, Pasay Diversion Road, Makati Avenue), and bearings.
- Survey details include original survey dates (Dec. 10, 1923 - Jan. 9, 1924), subdivision survey (June 10, 1996), and approval date (September 16, 1996).
Implementation and Effectivity
- The Proclamation is signed by the President and the Executive Secretary.
- It took effect on May 30, 2005, with the seal of the Republic affixed, formalizing the building's status under the special economic zones law framework.
Key Legal Concepts
- The proclamation is a formal exercise of executive authority to create and designate special economic zone facilities.
- The designation facilitates the application of incentives and regulatory frameworks specific to IT buildings within special economic zones.
- The detailed property description ensures clear legal boundaries and identification for administrative and operational purposes under PEZA jurisdiction.