[ manilastandardtoday.com ] December 30, 2009
by Gigi Muñoz David
Mandaluyong City is riding on a construction boom unseen in years since the global financial crunch.
Summing up 2009, Mayor Benhur Abalos said at least P42.25 billion in investments has been recorded largely coming from 13 companies and real estate developers.
“Investments are given priority in the city as it generates work to thousands of people, especially for residents,” he said, adding that in 2003 the locality was named “Tiger City” by the Trade Department.
Sycip, Gorres and Velayo’s policy center and the Asian Institute of Management Policy Center at the time commended the city for drawing in investments worth P11.8 billion.
Abalos said the P42-billion inflow came from 13 big companies and real estate developers of high-rise properties across the metropolis.
The clusters are led by SM-Boni Residence, a three-tower, 32-story at the corner of Edsa and Madison Street along with Empire East Land Holdings Inc.’s Pioneer Woodlands, a twin-tower, 32-story, both in Barangay Ilaya.
In neighboring Highway Hills are Grand Central Residences, three-tower, 32-story on Edsa corner Sultan Street; Lancaster Suites Tower 2, 28-story, by Pacific Concord Properties Inc.; and Twin Oaks Place, 42-story, by Greenfield Development Corp. on Shaw Boulevard.
In Wack-Wack are Sonata Tower, by Robinsons Land Development Corp. on San Miguel Avenue; The Address, a 39-story on Wack-Wack Road; St. Francis Shangri-La Plaza 2; and One Shangri-La Place, 60-story, by The Shang Grand Tower Corp.
Addition Hills village has 409 Shaw Tower, 27-story; Plainview boasts Raymond Tower Building, 33-story, on Boni Avenue corner Sikap Street.
Not to be outdone, Buayang Bato has Sunshine 100 City Plaza Pioneer, a four-tower, 28-story, on Pioneer corner Sheridan Street while Ilaya has a dominating Robinsons Cybergate Plaza, a 17-story hotel and office cluster on Edsa near Pioneer Street.
Abalos, who is also president of both Union of Local Authorities of the Philippines and League of Cities of the Philippines, said “the influx of investors in a city is an indication of the confidence of investors in the local government. Despite the size of Mandaluyong in terms of land area, she was able to prove that it is not a hindrance to prosper and develop.”
In 1986, Mandaluyong was making P46 million a year which in a decade peaked at P1.38 billion in 2006 then P1.56 billion in 2007.
After posting P1.67 billion in 2008, the AIM recognized its efforts in bringing in new vigor to the business climate for multi-national corporations, pharmaceuticals, telecommunication companies and call centers.
The institute awarded Mandaluyong the first place in the 2008 Cities of Competitiveness Ranking Project.
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