Designation and Location
- The building designated is named One World Place.
- Located at Lot 7, Block 5, 32nd Street, City Center North, Bonifacio Global City, Taguig City.
- The property covers an area of approximately 1,790 square meters.
Specific Property Description
- Lot 7 Pcs-00-012537 is detailed with technical survey references and boundaries.
- Bounded by Lot 6, Block 5; Road Lot 26; Lot 8, Block 5; and Lot 4, Block 5 (Residential Access Lot).
- Reference coordinates and bearings from certified surveys dated as early as 1907 and as recent as 2008 are included.
Scope and Application
- The designation of the property as an Information Technology (IT) Center subjects it to the provisions of RA No. 7916 and related regulations.
- The IT Center status grants privileges and incentives under the Special Economic Zone framework governed by PEZA.
Legal Effect and Implementation
- The proclamation is signed by the President and affixed with the official seal, making it an enforceable government order.
- The Executive Secretary also certifies the promulgation.
- The designation supports the development of IT infrastructure and economic activity within Bonifacio Global City.
Important Legal Concepts
- Recognition of economic zones as catalysts for investment and technological development.
- Compliance with multiple regulatory frameworks ensures legal certainty and administrative oversight.
- Detailed parcel descriptions provide precise legal boundaries, minimizing jurisdictional disputes.
- Coordination between executive authority and PEZA underlines institutional procedural adherence.