FTI out to tap infotech boom

After repeated privatization attempts ended in failure, efforts are now underway to convert the 120-hectare Food Terminal, Inc.(FTI) complex in Taguig City into an information technology (IT) Park. A subsidiary of the National Food Authority, FTI is an agro-industrial and commercial estate set up by the Marcos administration in 1968 to serve as direct trading hub for agricultural commodities, storage and food processing. Over the years, FTI -- which is often regarded as one of the Marcos regime’s ‘white elephants’ -- has branched out to accommodate other locators. In 2004, some 243, 961 square meters were declared a special economic zone. With the boom in outsourcing, the next step for FTI is to position the entire site as an extension to Makati City and Fort Bonifacio Global City, city manager for upper Bicutan April Al-Raschid told BusinessWorld. FTI is primarily counting on the spillover of locators from already congested office areas in Metro Manila. This early, five call center firms have already expressed interest to locate, Ms. Al-Raschid said. The city government of Taguig, along with the Trade department and the NFA, are targeting to get IT park approval by the third quarter of 2006. Included in the plan is the setting up of an integrated transport system to FTI from Makati City and Fort Bonifacio as FTI is only 15 minutes away by car. FTI is also near the South Luzon Expressway and the Ninoy Aquino International Airport. FTI is also open to partnering with property developers as most of its facilities are warehouses. Monthly office space rental is currently cheaper at P150 per square meter, while land rental is at P73.50 per square meter. In comparison, Makati rents start at P350 per square meter. BusinessWorld Maricel E. Estavillo