'IT zone' status eyed for 4 Makati buildings

Four buildings in Makati City may soon get information technology (IT) zone status after the city council endorsed them to the Philippine Economic Zone Authority for accreditation.

 

The Makati City Council recently approved resolutions endorsing the McKinley Exchange Corporate Center, The Peak Tower, Century Spire and Forbes Media Tower.

 

Makati Mayor Jejomar Erwin Binay Jr. said having more IT zones in the city may translate to more jobs.

 

McKinley Exchange Corporate Center is a five-story mixed-used complex developed by Ayala Land, Inc. It is part of the P60-billion redevelopment and rebranding of Makati.

 

Peak Tower, developed by PH COLO, Inc., focuses on a 24/7 communication-rich corporate environment. The 45-story infrastructure built for information and communications technology (ICT) investment and property management.

 

Century Spire will be the last residential building in Century City.

 

Forbes Media Tower will be a 60,000-square meter commercial tower housing office spaces, meeting rooms, event halls, restaurants, fitness centers, and exhibition facilities.

 

“As we support our investors by providing them a healthy business environment, we also promote the welfare of our primary stakeholders, the citizens of Makati, by helping in the creation of more job opportunities,” Binay said.

 

A news release from the city government said the Special Economic Zone Act of 1995 allows tenants of accredited IT zones exemptions on local government fees and taxes, income tax breaks, duty-free importation of equipment, and exemption from the expanded value added tax (EVAT).

 

Requirements

 

The Makati City council requires applicants, including their tenants or locators, to comply with certain terms and conditions for IT zone status. These include:

 

pledging to provide the city government with a list of their manpower requirements and criteria for selection every three months, and to hire qualified city residents.

providing a list of training centers or schools where disqualified candidates can be sent for training and subsequently be reconsidered for employment.

 

Citing the PEZA website, the city government said there are presently 39 PEZA-accredited IT zones in the city, including:

 

 

 

 — Joel Locsin/TJD, GMA News