• President Ferdinand Marcos Jr. declared One Townsquare Place in Las Piñas City as a special economic zone through Proclamation No. 765
• The designated zone includes the One Townsquare Place building in Barangay Almanza Uno, with a gross floor area of 28,214.88 square meters, and the land it occupies, measuring 3,729 square meters
• It is categorized as an information technology center based on the recommendation of the Philippine Economic Zone Authority
• The proclamation was signed by Executive Secretary Lucas Bersamin on December 20, 2024
President Ferdinand Marcos Jr. has designated One Townsquare Place in Las Piñas City as a special economic zone through Proclamation No. 765.
The 12-storey building, located in Barangay Almanza Uno, along with the parcel of land it occupies, is now classified as an information technology center. The property is owned by Megaworld Corp.
One Townsquare Place building has a gross floor area of 28,214.88 square meters, while the land spans 3,729 square meters.
Proclamation No 765 was signed by Executive Secretary Lucas Bersamin on December 20, 2024 following the recommendation of the Philippine Economic Zone Authority (PEZA).
This development adheres to Republic Act (RA) 7916, or the “Special Economic Zone Act of 1995,” as amended by RA 8748, which defines special economic zones as selected areas with high development potential.
These zones may serve as centers for agro-industrial, industrial, tourist, recreational, commercial, banking, investment, and financial activities.
Business establishments within these economic zones are eligible for various tax incentives and financial benefits as stipulated by the law.
Twenty-seven proclamations for new/expansion of economic zones with a total investment cost of P9.176 billion were so far approved under the Marcos Jr. administration, according to PEZA last month.
READ: 27 ecozones proclaimed so far under Marcos admin
Of the total, 11 proclamations with an investment cost of P3.538 billion were approved in 2023 and 16 proclamations worth P5.637 billion were signed in 2024, according to the presentation of PEZA director general Tereso Panga in a media briefing on December 16.
