Bonifacio Capital District Explained

Official Name:Bonifacio Capital District
Image Blank Emblem:Bonifacio Capital District.png
Blank Emblem Type:Logo
Blank Emblem Size:150px
Nicknames:BCD
Pushpin Map:Metro Manila#Luzon mainland#Philippines
Pushpin Label Position:bottom
Pushpin Map Caption:Location in Metro Manila##Location in Luzon##Location in the Philippines
Coordinates:14.5328°N 121.0524°W
Subdivision Type:Country
Subdivision Name:Philippines
Subdivision Type1:Region
Subdivision Type2:City
Subdivision Type3:Barangay
Subdivision Name1:National Capital Region
Subdivision Name2:Taguig
Subdivision Name3:Fort Bonifacio
Established Date:2019
Area Footnotes:[1]
Area Total Km2:1.6
Population Density Km2:auto
Postal Code Type:Zip code
Area Code:2
Type:Central Business District
Timezone:PST
Utc Offset:+8

The Bonifacio Capital District (BCD) is a financial district in Metro Manila, Philippines under the joint management of Megaworld Corporation and the Bases Conversion and Development Authority. It covers the southern area of Fort Bonifacio with the Bonifacio Global City district situated north of the BCD, with McKinley Hill under the jurisdiction of Barangay Pinagsama and the rest under Barangay Fort Bonifacio. Makati claimed jurisdiction of most of the area as part of Barangay Post Proper Southside, which was later transferred to Taguig as part of the 2021 Supreme Court decision on the border dispute.The former Makati barangay has its barangay hall and de facto control of a residential area just north of McKinley West.

History

The Bonifacio Capital District (BCD) was created as a joint venture between the private conglomerate Megaworld Corporation with the Bases Conversion and Development Authority (BCDA) of the Philippine national government both of which will manage the area. A memorandum of agreement was signed on March 14, 2019, regarding their plans for the BCD.[2]

The areas placed under the BCD upon its creation were: Megaworld's McKinley Hill and McKinley West developments, BCDA's Philippine Navy Village as well as Bonifacio South Pointe, which is a joint venture with the SM Group and BCDA-owned Consular property beside McKinley West, and a one hectare lot.[2] The BCD is also meant to be "country's administrative capital" with the Senate of the Philippines, the Supreme Court, and the Court of Appeals planning to move to the financial district. The development is projected to complete in 10 years.[3]

See also

Notes and References

  1. News: de Villa . Kathleen . From 'the Fort,' BCD takes shape . 16 October 2021 . Philippine Daily Inquirer . Inquirer Research . 14 March 2020 . en.
  2. News: Francia . Arra . Megaworld and BCDA to jointly manage Bonifacio Capital District . 15 March 2019 . BusinessWorld . 15 March 2019.
  3. News: Cabuenas . John Victor . Megaworld partners with BCDA to create Bonifacio Capital District in Fort Bonifacio . 16 March 2019 . GMA News . 16 March 2019.