By Carla Calleja, MBA, REB
Quick quiz: before the glass towers, the High Street crowds and the weekend joggers, what stood on the land we now call BGC? A) a racetrack, B) a U.S. Army base, or C) rice fields?
The answer is B, a U.S. Army base. (The racetrack was across the river in Makati: that is the story of Circuit Makati, for another day.)
From Fort McKinley to Fort Bonifacio
In the early 1900s, during the American period, the U.S. government set up a military base on land in what is now Taguig. It was named Fort McKinley, after U.S. President William McKinley. Sources differ on the exact founding year: some say 1901, others 1902, so I will just say “the early 1900s”.
In 1949, Fort McKinley was turned over to the Philippine government. It became the headquarters of the Philippine Army and was renamed Fort Bonifacio, in honor of Andres Bonifacio, the Katipunan leader. (Sources also differ on the year of the renaming, so I am leaving that out.)
From military camp to global city
- 1992: Republic Act No. 7227, the Bases Conversion and Development Act, signed under President Corazon Aquino, created the Bases Conversion and Development Authority (BCDA) to turn former military bases into productive civilian areas.
- 1995: the BCDA and a consortium led by Metro Pacific formed the Fort Bonifacio Development Corporation (FBDC) to develop part of the former base.
- 2003: Ayala Land and Evergreen Holdings took over Metro Pacific’s controlling stake in FBDC, and the master-planned district we now know as Bonifacio Global City took shape.
Why this matters to buyers and investors today
BGC’s history explains a lot about how it feels and how it is priced. It started as a single large government landholding, so it could be master-planned from scratch: wide sidewalks, a grid of streets, parks and a mix of offices, homes and retail. That planning is a big reason why condos and offices there command premium rents and resale values.
It also reminds us that land history matters. Whenever you buy in a former government or military area, or anywhere with a long history, check the title’s history at the Registry of Deeds and ask what the land was before. A good broker will help you do that.
FAQ
Who is Fort Bonifacio named after?
Andres Bonifacio, the revolutionary leader of the Katipunan.
Who was Fort McKinley named after?
U.S. President William McKinley. You will still see his name today in places like McKinley Hill and McKinley Parkway.
What law allowed the conversion of Fort Bonifacio?
Republic Act No. 7227, the Bases Conversion and Development Act of 1992, which created the BCDA.
When did Ayala Land come into BGC?
In 2003, together with Evergreen Holdings, when they took over Metro Pacific’s controlling stake in the Fort Bonifacio Development Corporation.
Ask Broker Carla
Which Makati or BGC place should I feature next? Comment FORT plus your guess on my Facebook page at facebook.com/carlacallejabrokerphilippines, or email buyrentph@gmail.com with your “Broker Carla, …” question.
Cover image: AI-generated illustration, not an actual photo of BGC.
