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Yap family to build P5-billion complex in Davao

By Zinnia dela Peña (The Philippine Star) Updated October 15, 2012 12:00 AM

MANILA, Philippines - The family of businessman-stockbroker Felipe Yap is building a P5 billion mixed-use complex in Davao.

The project, dubbed Felcris Centrale, will feature residential towers, hotels, a 10-story office/BPO building and a full-service retail mall.

Located on a 5.9-hectare property in Bgy. Bucana, the project with a floor area of more than 54,000 square meters, is targeted for completion in the third quarter of 2013.

The first phase of the project will see the completion of the mall and BPO building at a cost of at least P1 billion.

Colliers International, a global leader in real estate services, will handle exclusive landlord representation for office spaces in Felcris.

Davao is seen to be the next wave city in the Philippines most suitable for call centers and BPO businesses.

Felcris Centrale will be the first in a string of prime office/BPO buildings to rise in the city.

The Yap family has been in the real estate business for more than 30 years now, starting as a small retail store selling textiles. It later expanded with the construction of supermarkets and warehouse clubs. The group recently formed Felcris Hotels and Resorts Corp.

Yap is also into the mining business through Lepanto Consolidated Mining and Manila Mining Corp. He also owns brokerage firm F. Yap Securities.

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