Vol. XXI, No. 227 [ Business World Online ]
Thursday, June 19, 2008 | MANILA, PHILIPPINES
LISTED SHANG Properties, Inc. is coming up with three major projects this year to strengthen its residential and retail businesses.
In a report to stockholders, President and Chief Executive Officer Juan Andres D. Bautista said they were still finalizing the plans for the project on a 1.5-hectare lot it had bought in Fort Bonifacio Global City together with Shangri-La Asia and Alpha Land Corp.
"Initial plans show that we will have more than 60-story residential buildings there and it will be the first residential complex built on top of a Shangri-La Hotel. We will have the groundbreaking some time in July," he said in an interview.
He added that Shang Properties is in the final stages of executing the next phase of redevelopment of its 8.6-hectare Shangri-La Place in the Ortigas business district.
Mr. Bautista said they might also expand the mall by another 30,000 square meters to enhance their integrated community. The company is also in talks with Shangri-La Asia for a joint venture in Mactan, Cebu.
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