BCDA turns over condo units to AFP
Posted: May 25, 2012 | Category: Investment And Projects
Bases Conversion and Development Authority (BCDA) President and Chief Executive Officer Arnel Paciano D. Casanova (second from left) presents a key to Secretary of National Defense Voltaire T. Gazmin during recent turnover ceremonies of 32 newly completed condominium-type units intended for the active military soldiers and their families. Looking on are BCDA Executive Vice President Aileen An. R. Zosa and Army Chief Lt. Gen. Emmanuel Bautista. The newly turned over 32 condo units are part of the 192 condo-type units earmarked for the Armed Forces of the Philippines (AFP). The remaining condo units are nearing completion and may be turned over to the intended active soldiers within the year. The replication program, estimated at about P700-million, involved the construction of 12 five-storey condominiums within the AFP’s retention areas. Ten of the buildings are located in Fort Bonifacio and two buildings in Villamor Air Base. Each building has 16 condominium units, with the ground floor reserved for parking purposes. The replication program is part of BCDA’s commitment to give back to the military establishment its fair share of the proceeds of the BCDA’s asset disposition and property development efforts as mandated by Republic Act 7227, also known as the BCDA Law.