BCDA Eyes Q1 2027 for Bidding on Remaining Market! Market! Land

The Bases Conversion and Development Authority (BCDA) is expected to finalize the terms for the bidding of the remaining four hectares of the Market! Market! property in Taguig City by the first quarter of 2027, a senior official said Monday. According to BCDA president and chief executive officer Joshua Bingcang, the property will be bidded out as a transit-oriented development (TOD), as it will serve as a substation for the planned Metro Manila Subway. “I think we’re preparing the terms by the latest on the first quarter of 2027,” he told reporters in an interview in Taguig City on Monday, adding that he is set to meet with at least three Japanese developers regarding the project later this month. The BCDA last week announced a lease extension with Ayala Land Inc.-led Station Square East Commercial Corporation (SSECC) for the Market! Market! property in Taguig City, as the company committed P1 billion in capital investment to modernize the property. The extension will run for an additional 12 years and seven months starting June 5, 2027, preparing the mall to be integrated with major mass transit infrastructure. “That’s just one half of the area only… The rest will be open for public bidding because that will be the site for the Mega Manila subway station in BGC, so up for grabs ‘yung remaining four hectares,” Bingcang said. Market! Market! is part of Ayala Land’s original 2000 master plan for “Convergence Square,” a mixed-use concept integrating retail, public transit and civic space. Bingcang in 2024 announced plans to redevelop Market! Market! into a mixed-use property, with the disposition of the asset scheduled to start in 2025. The BCDA is mandated to help strengthen the Armed Forces of the Philippines (AFP), while building cities. It also engaged in public-private partnerships to boost public infrastructure such as tollways, airports, seaports, and major real estate developments. —RF, GMA News