P1-B Market! Market! upgrade anchors BGC transit future

Insider Spotlight

• BCDA and Ayala Land-led SSECC finalized a 12-year and seven-month lease extension for Market! Market!
• SSECC committed P1 billion to modernize the BGC commercial center and prepare it for mass-transit integration
• The property will host the Bonifacio Global City Station of the Metro Manila Subway Project
  
  
  
  

The Bases Conversion and Development Authority (BCDA) and Ayala Land Inc.-led Station Square East Commercial Corp. (SSECC) are moving ahead with a P1-billion modernization of Market! Market!, positioning the established Bonifacio Global City commercial center as an integrated retail and transportation hub.

The investment follows the finalization of a lease extension allowing SSECC to continue operating Market! Market! for another 12 years and seven months beginning June 5, 2027 until Dec. 31, 2039. 

The company committed P1 billion in capital investment to upgrade the property and prepare it for integration with major mass-transit infrastructure.

Reshaping mobility

The agreement extends the life of one of BGC's established commercial properties while aligning its redevelopment with infrastructure expected to reshape mobility in the district.“We are committed to reinventing and modernizing Market! Market! for its next act,” Station Square East Commercial Corp. chair and Ayala Land Inc. president and CEO Meean B. Dy said in a press statement. 

“For us, renewal does not simply mean building something new. It means looking again at the places we already have, understanding how cities and communities have changed around them and investing in them so they can create even more value for the next generation,” she added. 

Transit-oriented development plans

Market! Market! will host the Bonifacio Global City Station of the Metro Manila Subway Project. BCDA's transit-oriented development plans will also repurpose part of the Central Plaza as the property evolves into an intermodal mobility hub.

“Market! Market! has long served as an accessible bridge connecting everyday Filipinos to the opportunities within BGC. As we integrate major mobility infrastructure such as the Metro Manila Subway into this development, BCDA and Ayala Land are together building a seamless, future-ready urban center that truly serves the public,” BCDA President and CEO Joshua M. Bingcang said.

‘Convergence square’

The redevelopment revives elements of Ayala Land's original 2000 “Convergence Square” master plan, which envisioned the site around retail, public transit and civic space.

“With BCDA's transport-oriented development plans and the future Metro Manila Subway station within the property itself, Market! Market! can evolve from one of BGC's important gateways into an even more vital point of connection—bringing together rail, road, commerce, work, and everyday life in one of Metro Manila's most dynamic business districts,” Dy said. —Vanessa Hidalgo | Ed: Corrie S. Narisma