Arca South

Arca South (formerly Food Terminal Incorporated (FTI)) is an industrial estate owned by Ayala Land, Inc. located at East Service Road, South Luzon Expressway, Taguig. It was formerly government owned and controlled corporation that runs a 120-hectare industrial estate .[1] It is one of the largest estates in Metro Manila and is home to over 300 companies.[2] FTI leases lots for agricultural development, electronic raw materials and other business endeavors. [3]

The former FTI was part of the National Food Authority (NFA) [4] The NFA and the Food Development Center are located on the property. [4]

History

It was a priority project of then Philippine President Ferdinand Marcos to revolutionize the agricultural sector of the country. By the power a Presidential decree issued in January 1967, it took about more than a year to establish what was called the Greater Manila Terminal Food Market (GMTFM) on April 30, 1968. However, the estate was renamed to Food Terminal Inc on March 27, 1974.

There have been several attempts over multiple Philippines presidential administrations to sell off part of the property, including a public auction in 2009, but they all failed.[2]

In November 2012, the Philippine government announced the sale of the 74 hectares of the 120-hectare property to Ayala Land, Inc. for 24.3 billion Philippine pesos.[5][2] Ayala plans to turn the property into a mixed-use development.[5] Proceeds from the sale are pledged to the programs of the Department of Agriculture and the Department of Agrarian Reform. The remaining 46 hectares remains in FTI.[5] The remaining 46 hectares of FTI renamed as FTI Special Economic Zone.

In 2013, Ayala Land renamed FTI into Arca South. [6]

Current Developments

FTI Special Economic Zone

Residential

Commercial/Institutional

References

  1. ↑ "Food Terminal Inc. website". Retrieved 13 November 2012.
  2. 1 2 3 "Privatization Mgmt Office moves Food Terminal Inc. bidding to Aug. 14". GMA News. August 2, 2012. Retrieved 13 November 2012.
  3. ↑ Food Terminal Incorporated (FTI)
  4. 1 2 "Food Terminal Inc. website". Retrieved 13 November 2012.
  5. 1 2 3 Burgonio, TJ (November 13, 2012). "Ayala buys FTI for P24.3B". The Philippine Inquirer. Retrieved 13 November 2012.
  6. ↑ http://ayalalandrealestate.com/ali-food-terminal-inc-fti-now-arca-south/
  7. ↑ "AyalaLand Premier - Arca South". Retrieved 2015-06-01.
  8. ↑ "Alveo - Arca South". Retrieved 2015-06-01.
  9. ↑ "Avida - Arca South". Retrieved 2015-06-01.
  10. ↑ "About AyalaLand Offices - Arca South". Retrieved 2015-06-01.
  11. ↑ http://www.mb.com.ph/ayala-land-bags-p4b-its-south-terminal-project/

External links

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