RCBC Plaza gets IT zone status

RCBC Plaza, the biggest and most modern office development in the country today, was recently designated by the Philippine Economic Zone Authority, as an information technology (IT) zone. It has also been declared a special economic zone.

This means that qualified RCBC Plaza locators and tenants will be given a package of tax incentives designed to attract foreign investments in the areas of computer-and knowledge-based operations such as IT solutions providers, shared services, software development and engineering design, among others.

The PEZA certification makes RCBC Plaza the first vertical development in the Makati central business district to be accorded this status.

The RCBC Plaza, through its developer RCBC Realty, is a joint-venture project of RCBC Land and the Government of Singapore Investment Corp. (GIC). RCBC Land, which is owned by Rizal Commercial Banking Corp. and Pan-Malayan Management and Investment Corp., provided the 1.04-hectare "island" site at the corner of Ayala Ave. and Gil Puyat Ave., while GIC put in the money and its real-estate experience into the project. In addition, a syndicate of local banks provided a term loan of P1.7 billion to fully finance the Plaza’s construction cost. The total cost of RCBC Plaza is over P12 billion.

RCBC Plaza, hailed as the finest and most prestigious business address in the Philippines, consists of two towers, a three-level podium and seven levels of basement parking with a total area of 250,000 square meters. Besides office space, it will house a cultural museum, a 500-seat auditorium, a chapel that can seat 150 people, banking chambers in both towers, a VIP lounge, a gym and health spa, and an open-air courtyard. Its technology is state-of-the-art and is at par with the world’s best, featuring an invisible security system, the latest fire-protection system, fiber-optic telecommunications system, a Chiller-type air conditioning system and digitally controlled and building automation system (BAS).

The PEZA’s certification of the RCBC Plaza as an IT Zone was signed by PEZA director general Lilia de Lima. The registration agreement was also signed by De Lima on behalf of PEZA and Cesar E.A. Virata and Perry Uy, chairman and president, respectively, of RCBC Realty Corp.