During the American colonial period, the US government acquired a 25.78-square-kilometer (9.95 sq mi) property within what was then disputed area between Makati, Taguig and Pateros for military purposes.

Among the prisoners held there were some of the country's leading academics, creative writers, journalists, and historians including Butch Dalisay, Ricky Lee, Bienvenido Lumbera, Jo Ann Maglipon, Ninotchka Rosca, Zeus Salazar, and William Henry Scott.

[8] The YRC was a higher security prison which housed prominent society figures and media personalities,including society figures Tonypet and Enrique Araneta, Constitutional Commission delegate Manuel Martinez, poet Amado V. Hernandez, and Polytechnic University of the Philippines president Nemesio Prudente.

The following year, Metro Pacific won a bid of $1.6 billion to undertake the conversion of 535 acres of undeveloped land into the country's newest commercial, business, and residential complex.

The FBDC's landmark project was conceived as Bonifacio Global City, a real estate development area meant to accommodate 250,000 residents and 500,000 daytime workers and visitors.

[19] The project was hampered by the 1997 Asian financial crisis, but moved forward when Ayala Land and Evergreen Holdings, Inc. of the Campos Group purchased Metro Pacific's controlling stake in FBDC on April 24, 2003.

[16][20] On December 9, 1937, the Deed of Absolute Sale executed by the owner, Don Anacleto Madrigal Acopiado in favor of the American Government covering the area of 100 hectares (250 acres), portion of Bicutan, Taguig, annotated at the back of TCT No.

Taguig got the jurisdiction over Fort Bonifacio after winning the case against Makati in filed in the Pasig Regional Trial Court in 1993.

In an 18-page resolution promulgated on March 8 penned by Associate Justice Edwin Sorongon and was concurred by Justices Ramon Cruz and Renato Francisco, the CA's Special Former Sixth Division granted Taguig's motion to dismiss citing Makati's violation of the forum shopping rule (or pursuing simultaneous remedies in two different courts) and accordingly dismissed the latter's appeal of the earlier decision of the Pasig Regional Trial Court (RTC) which originally ruled in favor of Taguig.

[21] The CA took notice of the Supreme Court's decision on June 15, 2016, which found Makati guilty of "willful and deliberate forum shopping".

The issue of whether Makati committed willful and deliberate forum shopping in these cases has been finally laid to rest no less than by the Supreme Court," the CA said in a ruling.

In a decision dated December 1, 2021 and handed down on April 7, 2022, by Associate Justice Ricardo Rosario, the Supreme Court of the Philippines declared permanent the 1994 injunction issued by the Pasig City Regional Trial Court which disallowed the Makati City government "from exercising jurisdiction over, making improvements on, or otherwise treating as part of its territory Parcels 3 and 4, Psu 2031, comprising Fort Bonifacio, including the so-called Inner Fort comprising of Barangays Pembo, Comembo, Cembo, South Cembo, West Rembo, East Rembo and Pitogo.

"[24] It was later affirmed in April 2023, when the Supreme Court junked the motion for reconsideration that was filed by Makati to finally side with Taguig.

BGC is home to residential condominiums such as 8 Forbes Town Road, Bellagio, Essensa, Serendra, Pacific Plaza Towers, One McKinley Place, The Luxe Residences, Bonifacio Ridge Twin Towers, and Regent Parkway and corporate office buildings such as Net One and Bonifacio Technology Center.

Many Filipino and multinational corporations have acquired properties and have committed to relocate their global, regional or national headquarters in the business district.

[26] At One Bonifacio High Street, the PSE Tower, which houses the unified trading floor of the Philippine Stock Exchange, and the Shangri-La at the Fort, Manila.

To prevent flooding, a massive detention tank is located underneath the Burgos Circle to store up to 22,000 cubic meters (780,000 cu ft) of rainwater before transferring it to a tributary of the Pasig River.

The Land Transportation Franchising and Regulatory Board has launched new rationalized bus routes to the business district, from Parañaque Integrated Terminal Exchange, Pacita Complex in San Pedro, and Balibago in Santa Rosa.

BGC is also indirectly served by the Guadalupe, Buendia, and Ayala stations of the MRT-3, which are connected to the development through jeepney and bus lines.