Published : Friday, June 29, 2012 00:00 [ manilatimes.net ]
Written by : MADELAINE MIRAFLOR REPORTER
Philippine real-estate giant Ayala
Land Inc. (ALI) launched its P30-billion investment in Bonifacio High Street in
Global City, which includes the new Shangri-La Hotel, new Philippine Stock
Exchange (PSE) building and a high-rise residential development called “The
Suites.”
The P30-billion worth of projects was
named One Bonifacio High Street, a joint project of Ayala Land, Evergreen
Holdings, and Fort Bonifacio Development Corp. The Suites has a development
cost of P9.9 billion and the new PSE building will cost P3 billion to P4
billion.
ALI President Antonino Aquino said
that the Philippine economy has never been progressive and this is a good sign
to start large projects.
“Ayala Land’s aggressiveness is the
result of the Philippines’ good economy, which outshined the crisis all over
the world,” he said
ALI’s discussion with PSE has also
progressed well, Aquino added. The real estate company believes that the PSE’s
decision to move to Global City, which is located in Taguig City, was probably
driven by the good trend of the economy during the past few weeks.
ALI estimates the PSE building will be
finished in late 2016, or early 2017.
As for The Suites, the latest
residential development of ALI, Aquino said that four days after it was been
launched, only three units are left for sale. Aquino said that most of their
customers came largely from the Philippine front, mainly overseas Filipino
workers.
“The Philippine demand is too strong.
We didn’t have to look outside the country to gain more customers,” he said.
The Suites is the first all-suite residential development in the block,
surrounded by offices, malls and a museum.
“In developing a property, ALI’s main
concern is the location. We always make sure that in building residential
development, the location will be very compliant to our clients,” Aquino said.
One Bonifacio High Street is known for
hosting some notable lifestyle spots in the Bonifacio Global City (BGC).
“BHS [Bonifacio High Street] banners
Ayala Land’s aggressive efforts in BGC, as evidenced by the presence of the
developments within its one-kilometer strip that traverse at the heart of the
district,” said Aquino.
ALI is involved in property
development spanning residential, commercial and industrial space development,
mall and hotel operations, construction, and property management services.
Almost 62 percent of its revenues come from sales of residential and industrial
land, and the leasing of shopping centers and office space.
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