The privatization of the 35-hectare Jusmag property will jumpstart the development of the 119-hectare Bonifacio South (BOSO) , which masterplan is nearing completion.

Aileen Zosa, vice-president of the Bases Conversion Development Authority (BCDA), said the privatization process of BOSO would follow after the privatization of the North Bonifacio.

“By October or November this year we will be announcing the disposition mode,” Zosa said.

“There are already three unsolicited proposals from major real estate developers in the country including Ayala Land Inc.,” Zosa said. At present, the US-based consultants Parson Brinker & Hoff is still finalizing the masterplan of the entire BOSO area.

The masterplan also takes into consideration the transportation component of the development because huge traffic along the Lawton Avenue area.

“We make sure the development will provide for adequate access so we should add more value for money in this project,” he said.

The initial plan has been presented to stakeholders the Department of National Defense and Armed Forces of the Philippines, which will be most affected because of its existing 106 military housing facilities for active officers that have to be relocated.

Both DND and AFP have already reached a consensus for the MP.

The Jusmag area is planned to be developed into a mix-use development with housing component.

Zosa said the Jusmag area would be the first to be developed because it has been cleared and has no more legal encumbrances.

The two other components of the BOSO area are the BNS and Marine headquarters consisting of 33 hectares.

“We are still negotiating with the AFP that it is to their best interest for them to be relocated in another area. We are trying to convince them that the revenues that from the disposition would go to the modernization of the AFP and that new facilities, medium-rise condominium, would be built for them in another area,” Zosa said.

According to Zosa, the BCDA has already identified the property near the 6-hectare NAMRIA area as the relocation area for the military housing facilities in Jusmag. NAMRIA is located near the JUSMAG area.