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The Food Terminals Inc. (FTI) is a 120-hectare agro-industrial commercial estate in Taguig. It was built originally as a food processing and consolidation center for agricultural products. It houses more than 300 small-to-medium scale companies who are engaged in different industries such as manufacturing garments and electronics.

This 120-hectare would be set up for bidding by the government on October 8, and the Ayala Group has expressed interest to bid for the said property. The Ayala Group, through its real estate arm, the Ayala Land Inc. (ALI), said it is currently evaluating the agri-industrial property estimated at P13 billion.

“We’re still studying and carefully evaluating it,” ALI president Antonino Aquino said, stressing that the company has not made any offer for the property yet. “When our evaluation is finished, we’re going to make an offer,” he said.

Aquino said that the FTI property, located in Taguig, could be another area for commercial and residential development. Putting up another mall may not be viable for the FTI property, he added, because it is near the Market! Market!  and Bonifacio High Street in upscale Fort Bonifacio.

The Bonifacio Global City is home to upscale condominiums such as Essensa, Serendra, Pacific Plaza and Regent Parkway and office buildings such as Net One and Bonifacio Technology Center. While restaurant, retail outlets, and a major shopping center in the area are at the Market! Market! That is why ALI is planning to develop FTI into a different venture, which is the commercial and residential.

The Ayalas however, are not the only ones interested at the Taguig property. Aside from the Ayalas, there were a number of Filipino developers who have also expressed interest in the government’s FTI asset.

Finance Undersecretary Crisanta Legaspi said the government will bid out 103 hectares of the 120-hectare lot. The remaining 17 hectares are owned by the National Food Authority (NFA) and therefore would not be included in the bidding.