In 1995, Bonifacio Land Corporation, a consortium led by Metro Pacific, made a successful bid to become BCDA's partner in the development of Bonifacio Global City. Ayala Land, Inc. and Evergreen Holdings, Inc. of the Campos Group purchased a controlling stake in BLC from Metro Pacific in 2003. BCDA and the two companies now control Fort Bonifacio Development Corporation, which oversees the master planning of Bonifacio Global City.The Global City is now home to upscale residential condominiums such as Essensa, Pacific Plaza and Regent Parkway and office buildings such as Net One and Bonifacio Technology Center. Three more residential buildings, Bonifacio Ridge, One McKinley Place and Penhurst Parkplace, have been completed, while Serendra, Fairways Tower, Forbes Town, Fifth Avenue Place and The Icon Towers have begun construction.
The prestigious British School Manila,Manila Japanese School and the International School Manila constructed and occupied new campuses in the Global City in its incipient stages. Other educational institutions in the area are Summit School, Victory Leadership Institute and MGC-New Life Christian Academy.
Most trendy restaurants, bars, clubs, and retail outlets are located in Bonifacio High Street, The Fort Square and Fort Strip where MTV Philippines headquarters is also located. Meanwhile, Bonifacio Stop-over and the Car Plaza cater to motorists. Global City is anchored by a major shopping center, Ayala Land's Market! Market!.
Many corporations have acquired properties and some have committed to relocate their regional or national headquarters, among them are The Hongkong and Shanghai Banking Corporation, Lawson Software, Fujitsu Corporation, Ericsson and TetraPak.
St. Luke's Medical Center and the Taguig Coliseum and Convention Center are among the Global City's anticipated developments. St. Luke's will be comprised of a 16-storey hospital building with 600 patient beds and an 11-storey medical arts building with 366 doctor's offices. The hospital intends to offer the most advanced medical technology administered by a highly trained staff. Taguig Coliseum and Convention Center, to be built by Northshore Holdings, Inc. and the current Taguig City administration, will be located on a 35,000 square metre site adjacent to Market! Market!. The center will include a hotel, office building, serviced apartments, a shopping center and a food court.
The Embassy of the Republic of Singapore has acquired a property near the Global City's center and will move permanently by 2008.
The masterplan of Fort Bonifacio was recently updated to allow efficient traffic management and circulation.
Subic Bay Freeport Zone (SBF) which is known simply as Subic Bay is the Philippines' first successful military base conversion through volunteerism into a a tax and duty free zone like Hong Kong or Singapore operated and managed by the Subic Bay Metropolitan Authority or SBMA. It covers the fenced area of the former U.S. Naval Base Subic Bay located in the southwest of Luzon Island in the Philippines and Olongapo City, the municipalities of Subic in Zambales and Hermosa and Morong in Bataan in concurrence of their Sangguniang Bayan pursuant to Section 12 of RA 7227. The harbor is located by Olongapo City facing the Zambales Mountain Range in the west and the Subic Bay opening up to the South China Sea. It is northwest of the Bataan Peninsula and southwest of the Zambales Province. SBF is 110 kilometers north of Manila. Manila Bay and the Bataan Peninsula separate SBF from Manila. The mountain ranges around the Subic Bay area and the deep natural harbor provide excellent and protected anchorage. In addition, these features make SBF naturally sheltered from typhoons as well as from the effects of the eruption of Mt. Pinatubo.