By Iris C. Gonzales (The Philippine
Star) | Updated August 17, 2015 - 12:00am
MANILA, Philippines - GT Capital
Holdings Inc., through its property development arm, is launching next year a
P2.7-billion mixed-use project in its Bluebay development along Roxas Blvd.,
officials said Friday.
This will coincide with the unveiling
of another Grand Hyatt Hotel in Fort Bonifacio in Taguig, in partnership with
the Oryx Group of Japan.
Federal Land Inc., the conglomerate’s
property arm, has a 40-hectare development in the Roxas Blvd. area, said GT
Capital president Carmelo Bautista.
The P2.7-billion project to be
launched next year is a fully commercial development with an integrated mall
and office spaces, mainly BPO office spaces, said Ana Bess Pingol, Federal Land
senior vice president.
The project will be launched in two
phases.
“For Phase 1, we have a budget of P1.2
billion. It’s a fully commercial development while Phase 2 is an integrated
mall and office with a budget of P1.5 billion,” she said.
Phase 1 will be launched in the middle
of next year while Phase 2 will be kicked off in the latter part of next year.
The mall will have a size of roughly
45,000 square meters, similar to the size of the Power Plant Mall in Rockwell,
Makati.
Both phases cover 27,000 square meters.
Aside from the Bluebay project,
Federal Land, together with Orix Corp. of Japan, will also soon unveil another
landmark development in Fort Bonifacio Global City, Pingol said.
The Grand Hyatt Residences is a
45-story luxury condominium development sharing a common podium with the
66-story Grand Hyatt Hotel.
Grand Hyatt Residences will rise next
to the five-star Grand Hyatt Hotel along 8th Avenue in central business
district of Taguig while Grand Hyatt Residences will feature 248 residential
units with a podium planned for luxurious amenities and high-end retail
establishments over a total saleable area of 39,271 square meters, company data
showed.
The Grand Hyatt Hotel is envisioned to
be the Philippines’ tallest skyscraper, with its lower half dedicated to office
floors for sale or long-term lease while the upper half will be occupied by the
Grand Hyatt Hotel. The property will be managed by Grand Hyatt Hotels Worldwide
and is expected to cost $300 million, Federal Land said.
The two projects, Grand Hyatt Manila
and Grand Hyatt Residences, are part of an integrated community being developed
by a joint-venture of Federal Land and Orix.
The partners first joined to develop
The Grand Midori Makati, a two-tower residential tower in Legaspi Village,
Makati City.
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