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Keppel sets 5-year expansion of Podium

[ ] May 3, 2011
AN associate of Keppel Philippine Properties Inc. has partnered with BDO Unibank Inc. to develop and expand the Podium complex in the Ortigas central business district.
In separate disclosures to the Philippine Stock Exchange, Keppel Philippines through SM Keppel Land Inc. (SMKL) and BDO said they entered into an agreement to turn the five-level Podium mall into a comprehensive commercial complex, which is estimated to be completed in five years.
SMKL is a joint venture company of BDO and Keppel Philippines.
BDO will construct an office tower that will house some of its business units currently located in Ortigas.
The development is still subject to the necessary regulatory approvals, including the Bangko Sentral ng Pilipinas for BDO.
The Podium mall was opened in December 2001 and houses over 152 specialty stores and restaurants and features two state-of-the-art cinemas.
Keppel Philippines, through its associated companies, is engaged in the acquisition and development of suitable land sites for residential, office and commercial uses.
Besides The Podium, the company’s properties include Palmdale Heights, a residential and commercial development located in Pasig City, and Benguet Centre, a Grade B office building in Ortigas,
Keppel Philippines shares were last traded at P1.75 each on Friday.

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