Published on 26 September 2012
Written by MADELAINE B. MIRAFLOR [ manilatimes.net ]
Publicly-listed real estate developer
Alphaland Corp. said that it is investing P11 billion to finish its pending
several projects in Makati, the district considered as the top site for
high-end real estate.
“Makati remains as the country’s
undisputed business and financial capital, particularly for real estate. Supply
and demand for high-value business, residential and commercial properties
continue to grow. Makati is still the location of choice for the upscale
market,” said Mario Oreta, president of Alphaland.
In a statement, the real estate
developer said that it is investing P11 billion to complete its high-rise
projects, one commercial and three residential towers, in the business
district.
The P3-billion Alphaland Tower is an
office development along Ayala Avenue, set for completion by first quarter
2013, which features 48,000 square meters gross leasable office space.
The remaining P8 billion, on the other
hand, is earmarked for Makati Place, a mixed-use development, which is an
upscale three-tower condominium that includes a six-story podium with a
shopping center and an exclusive urban leisure hub called “The City Club.”
“With the increased optimism stemming
from our economy’s consistent growth, the real estate industry is on pace to
match the increased demand for prime office, retail and residential space,”
Oreta said.
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