Project Title & Location
AFPOVAI DEVELOPMENT PROJECT
Fort Bonifacio, Taguig

Client
RETIREMENT AND SEPARATION BENEFITS SYSTEM
RSBS, Camp Aguinaldo, Quezon City

Project Completion
February 1997

Associated Firms
FB Orendain Management
PROS A&E

Services Provided
- Land consolidation planning
- Land use development planning
- Land Valuation
- Financial strategy and business plan

Originally proclaimed as a residential development on leased land for military officers, the project now aims to gain the highest and best use of the 178-hectare property by introducing a number of high-valued development alternatives. The project is envisioned to be a well-planned community with places and amenities fit for a highly urbanized metropolis. Furthermore, development proposals must be able to use the land in sustaining benefits that can redound to the officers of the armed forces.

Currently registered beneficiaries hold on to titles and lots with sizes averaging 400 square meters. Not all can build. Existing conditions make land development difficult to undertake on a lot-by-lot basis. A golf course has to be remodeled to maximize fairway advantages for residential areas; and squatter encroachment is increasing.

The property being adjacent to the multi-use Fort Bonifacio project, a planned unit development strategy is proposed. In tandem with an asset-backed securitization mode, lot owners are to surrender their properties as their equity. In return they get an equivalent interest in a built condominium and a sweetener in cash for the consolidated development project.

Plan forms follow the general context and geometry of urban development at Fort Bonifacio. The unified scheme consists of medium to high-rise residential, commercial and mixed-use applications and a golf-course.