Metrobank to build RP’s tallest hotel

http://business.inquirer.net/money/breakingnews/view_article.php?article_id=69300
By Daxim Lucas
Inquirer
Last updated 10:44pm (Mla time) 06/03/2007


THE PROPERTY UNIT OF THE METROBANK GROUP plans to build the country’s tallest building which will also house a five-star hotel as part of its move to capitalize on the booming tourism business.

Sources familiar with the project revealed that Federal Land Inc. would build a 66-storey structure whose upper 20 floors would be occupied by a 350-room hotel.

The mixed-use complex would be built on the 27-hectare North Bonifacio district inside Fort Bonifacio Global City in Taguig.

Metropolitan Bank and Trust Co. owns 10.4 hectares of this property, while the remaining 16 odd hectares belong to the state-owned Bases Conversion and Development Authority (BCDA).

The building’s lower floors would also house high-grade office space, while a pair of 40-storey residential towers would also be built beside it.

Federal Land chair Alfred Ty said the entire complex would cost approximately P20 billion.

In an interview, Tourism Sec. Ace Durano lauded the initiative, saying it would further boost the tourism industry.

“The taipans are all investing in tourism now,” he said, referring to the country’s richest Chinese-Filipino businessmen. “The fact that they’re investing in the hospitality business is a big vote of confidence.”

The Metrobank Group already has a small footprint in the tourism business through its hotel in Cebu City managed by the Marco Polo chain.

Its most recent foray into the booming sector, however, follows the move of other conglomerates, like SM Investment Corp.’s launch of its P5-billion Hamilo Coast tourism project and Ayala Land Inc.’s P7.4-billion deal with Saudi-owned Kingdom Hotel Investments for a three-hotel complex in Makati City.

“I have always said that if we couldn’t convince our own taipans to invest in tourism, then we wouldn’t be able to convince other investors to come in,” Durano said.

Once completed, the entire complex would have a total floor area of 140,000 square meters. The hotel venture is part of a master plan being developed by Hellmuth, Obata & Kassabaum Inc. International Ltd.

The tourism chief said that the Metrobank Group’s project would ease the problem of lack of hotel rooms, which is one of the two main bottlenecks in the industry, the other being the lack of airline seats into and out of the country.

“If we address these bottlenecks, we could easily achieve 10 to 15 million arrivals each year,” he said.

Durano pointed out that the rising number of tourist arrivals have already resulted in the smoothening out of occupancy rates in Metro Manila, virtually eliminating peaks and troughs experienced in the past.

He added that this has also resulted in the “over-utilization” of the Ninoy Aquino International Airport’s Terminal 1 by as much as 167 percent, making the opening of the mothballed Terminal 3 even more urgent.

^^ there is no stopping FBGC and the Philippines sa development. :) Sino kaya ang hotel partner nila? How tall will the structure be?

wow!!!!!!!!!!!!! sure na sure na! sa bgc na ang next tallest natin!! :)

mukhang mauuna pa to sa lopez., OMG! so excited., sana maganda design!! (sana hindi tayo biguin sa design., mageexpect ako ng magandang design., since metrobank owns one of the most beatiful landmarks in makati, GT)

its now a race for the sky!!
-lopez center
-metrobank hotel(federal land)
-gramercy residences
-GA skysuites

---------------------------
nilabas na ba design ng HOK para sa north boni?
---------------
kamusta na kaya bidding ng shimao? june na ah.,

^^Stunning news!

Manila is reaching for the skies - literally and in the tourism business! Beautiful news! I'm so excited to see the design!

^^Likewise, what a wonderful project! Hooray for the Philippines! Hooray for FBGC!

^^ WOW!! :) Great news:okay:

:eek: Sweet! Finally a office-hotel mix-use tower in BGC! And finally a tall proposal in BGC! Its a very exciting proposal especially since it is going to be designed by HOK (among my favorite architectural firm)!:applause:

Wow, Metrobank's tower vying to be the tallest in the country? Remember that Century said it will try to raise the height of Gramercy if anyone comes to challenge their plan for the title of Philippine's tallest building. However, I want BGC to hold that title(also I'd rather have a hotel/mixed-use complex hold the title than a residential).

But what's interesting is that this will rise in Metrobank's lot in North Bonifacio. This will raise the prestige and value of North Bonifacio, perhaps even overtaking Fort Bonifacio proper after HOK's masterplan and infrastructure is laid out.

Also I hope this will have an observatory deck!

Plus we don't know if this is the tallest since its gonna be part hotel, hence lower floor heights in some parts of it. If Lopez Tower is all office at 60 floors, it will still be taller. Its still too early to tell at this point... :dunno:

We'll just rename the thread if the project gets named.

But for now,
http://img353.imageshack.us/img353/7358/bgcfr9.png

i saw this in today's issue of the Philippine Daily Inquirer. There is already a concept art for it and I tell you it's not that impressive. :ohno: Perhaps they preferred to keep it simple and "box-y" to maximize the space. I hope someone can scan the paper so people here in SSC can see the building's design!

This is SO WEIRD!!! How did seven posts manage to sneak in before mine???? I was the second poster after Sinjin's initial post!! SSC has been so buggy lately! :sly:

EDIT: Nevermind, I guess Sinjin must have realized that Portudlow must have made a thread first and just merged them...

Anyways, here are more technical summary on the project with details that the main article may have missed. Thanks to Mark T Market of the Finance Manila site for the info...

http://www.financemanila.net/forum/viewtopic.php?t=430&start=180

From Deutche research:

Metrobank group to build tallest building
* 66-storey tower with 20floors for a 350-room hotel, the balance for premium grade office
* aims to be the tallest building in the country.
* adjacent to two 40-storey residential towers
* to be built on Metrobank's 10.4-ha foreclosed property in Fort Bonifacio
* site is adjacent to a 16++ha plot owned by the Bases Conversion Dev't Authority
* total 27-has being master-planned and developed by Federaland, which is 100%-owned directly by Ty family
* profit potential to MBT will not be seen till at least 2yrs from now
* but highlights 1) potential upside to ROPOA values and 2) moral hazard of property bull market as banks hold on to land instead of selling outright

i saw this in today's issue of the Philippine Daily Inquirer. There is already a concept art for it and I tell you it's not that impressive. :ohno: Perhaps they preferred to keep it simple and "box-y" to maximize the space. I hope someone can scan the paper so people here in SSC can see the building's design!

Is HOK the designer though? Maybe its not the finalized version yet. As I said, everything is too early to tell but based on the report from Deutsche which I posted above, it seems that George Ty is determined to make this the tallest somehow so it looks like he is giving the Lopez family a run for their money. It would be nice if George would employ KPF as the architect instead so perhaps they can mimic the architectural success of their HQ in Ayala Ave...

This is sooooo cool!:okay:

galing

http://images.sebastiancruz.multiply.com/image/2/photos/10/400x400/1/Metrobank1.JPG?et=V8CO3PgH8k0rmk1TttOshg

i took this using my webcam kaya medyo blurry siya. hindi masyadong exciting yung design niya. maganda sana kung isang twisting tower ang tallest sa metro :P

Bakit ang boxy?!:( Kamukha niya ng konti yung Aon Center sa Chicago...

^^ I also saw the rendering in PDI but I would have wanted if someone can give us a clearer rendering together with the twin 40 story buildings adjacent to it. The design is very NY 70's style building but I would give them the benefit of the doubt until we see a clearer rendering.

As for whether it's the tallest building, that remains to be confirmed considering the other developments in the pipeline. At the end of the day, it's cheers for the Philippines!!:banana: :banana: .

Where is Metro Bank's lot in BGC? This is a huge project (three towers in all) the must have quite a large lot (or of course, a combination of several lots).

Based on that rendering it looks a lot like International Commerce Centre @ Union Square, Hong Kong. Which btw, has an amazing design:
http://www.emporis.com/en/wm/bu/?id=internationalcommercecentre-hongkong-china

They are both quite boxy, but they are beautiful boxy designs.:okay: At least that's what I gather from this rendering. I'll leave my final judgment for the official render.

Tallest or not, this is very exciting! And HOK is no joke, they can produce excellent designs.

^^ ryanr: This will be in Metrobank's 10 hectare lot in North Bonifacio, so they've got some space for this project. :)

I don't mind the boxy design, and I do agree that it's very 70's NYC-like, although as far as I'm concerned they should stray away from being too WTC-like out of respect. I was expecting a design that was more modern and groundbreaking, though. Something that will be a landmark design. Let's hope this design is just one of many proposed designs.

Oh and suggestion for thread title: maybe put in Metrobank in there somewhere because it's quite vague as there are other projects going for the Tallest Building title.

^^ ryanr: This will be in Metrobank's 10 hectare lot in North Bonifacio, so they've got some space for this project. :)

.

Thanks. Can someone point it out on the map?

I wonder what hotel chain will occupy the top floors. This project sounds a lot like Shanghai's Jin Mao Building. I love mix-use towers!:)

i wonder what the view from the top floor will be like. :)

I think it will be a battle of the ages. Metrobank's mixed used complex against Shimao's and BCDA's mixed used complex. Both catering to the same market.

Competition will surely drive them to offer creative and top notch projects.

Thanks. Can someone point it out on the map?

I wonder what hotel chain will occupy the top floors. This project sounds a lot like Shanghai's Jin Mao Building. I love mix-use towers!:)

I agree, Jin Mao is a classic design. It would be cool if this unnamed tower has an atrium, like Jin Mao.

http://i132.photobucket.com/albums/q6/cionicboom/Image713Small.jpg
Try lang:)

nice!.. exciting.... yeah I hope it would look better... and glassy...

i'm sure developer and architect will be guarded with the specs given that there is a competition brewing to build the tallest building in the land, somewhat akin to the competition in Dubai (of course on a smaller scale in Metro Manila)

anyway great news indeed

^^ ryanr: This will be in Metrobank's 10 hectare lot in North Bonifacio, so they've got some space for this project. :)



Where exactly is this 10 hectare lot in North Bonifacio? Is it near the bluish building underconstruction just north of British School Manila? I'm not a big fan of the design so perhaps if placed strategically, it may not be so bad in terms of blending in. Perhaps someone can post an aerial with an arrow pointing to where it is so we can visualize it somewhat.

That said, I think this project should give the Lopezes more incentive to pursue their Lopez Tower. I wouldn't mind going back to the old days in the mid 1990s when some tycoons were all trying to build the tallest in the Philippines...

diba na news na dati that federal land is also planning to have the marco polo brand in manila.? maybe this is it?

Where exactly is this 10 hectare lot in North Bonifacio? Is it near the bluish building underconstruction just north of British School Manila? I'm not a big fan of the design so perhaps if placed strategically, it may not be so bad in terms of blending in. Perhaps someone can post an aerial with an arrow pointing to where it is so we can visualize it somewhat.

That said, I think this project should give the Lopezes more incentive to pursue their Lopez Tower. I wouldn't mind going back to the old days in the mid 1990s when some tycoons were all trying to build the tallest in the Philippines...

As far as I know, there hasn't been a map with lots released yet for North Bonifacio. We just know the size of the lot that Federal Land owns.

And I totally agree on the race to the tallest competitiveness. Very exciting times ahead(next 10 years :D)!

Looks like ICC's poor cousin.. Hope they change it.

Looks like ICC's poor cousin.. Hope they change it.

I think it's probable that they will change the design. Just look at past projects and how many times they change the design, sometimes altogether different.

i suppose its in the question mark?

http://i15.************/5x3e8au.jpg


actually, the design looks like a combination of ICC in hongkong and the new DLSU-CSB building in manila. :)

yeah parang ICC nga yung design lalo na yung first few floors...tapos ok na rin yung top, at least slanted :D

the 'hanjin is somewhere here?'... is North Bonifacio.... I think that's where this project will rise..

Hanjin building is on that whitish lot below that pointer.

the 'hanjin is somewhere here?'... is North Bonifacio.... I think that's where this project will rise..

Hanjin building is on that whitish lot below that pointer.

is bonifacio north and bonifacio triangle the same.,? mejo nakakalito rin ang locations nila., hehehe.., :)

http://i12.************/6cni35u.jpg

the 'hanjin is somewhere here?'... is North Bonifacio.... I think that's where this project will rise..

Hanjin building is on that whitish lot below that pointer.

No!!! That 'hanjin is somewhere here?' is NOT North Bonifacio, it's properly named Bonifacio Triangle, by Ayala Land+Greenfield and BCDA. The North Bonifacio is the "?", a parcel of which is controlled by Fedland with two other parcels by BCDA for joint venture with a developer. It's been a misconception here that North Bonifacio and Bonifacio Triangle is the same, kaya nga I always write the name North Bonifacio and Bonifacio Triangle with my posts to clearly identify which is which. I remember already explaning this thing in some previous posts in detail, and in several other posts with lesser details. I hope I won't have to do the explaining again and again and again and again repeatedly and repeadly and repeatedly in several threads, kaya nga ako gumawa ng North Bonifacio thread para luminaw ang mga bagay bagay, but it seems like the thread is not getting attention and that some posts that supposedly goes to the North Bonifacio thread goes elsewhere like the BGC thread. Am I doing something wrong for the Metro Manila Projects on the Rise (http://www.skyscrapercity.com/forumdisplay.php?f=874) subforum, do I (or Sinjin or Ryan) have do anything for this one, i.e., reorganization, or a "guide thread"? to clear which posts would go to which thread, or other issues?

Ooops, sorry, napagod lang akong mag-explain ng paulit ulit about this North Bonifacio and Bonifacio Triangle thing, sana lang sineseryoso ang mga posts ko para di na paulit ulit. Kasi naman ieexplain to in detail tapos parang di napapansin, sayang lang yata mga effort ko magexplain.

Edit: Mainit lang talaga ulo ko ngayon, sorry guys.

^^ so my question mark "?" was right., thank you for the explanation. :)

Thanks for pointing out its location, Richard and Aaron. A 66F tower in that area will fit in nicely.:) Its away from the core of BGC, but it will have its own little skyscraper cluster within BGC.

This news about the tallest structure in the Phillipines is great news indeed not just for Fort Boni but the country as well. Shimao and Metrobank will surely complement each others' projects in North Fort Boni (provided of course Shimao wins the bid) and the area will definitely help push land valuation in and around BGC even further. Major players are really bullish on the prospects of a better Philippines which should help ease fears of a realestate market collapse, (atleast in the near future), like what happened in the Asian Crisis. I'm happy they are flocking into Fort Boni to build their signature structure. Sana nga magtuloy-tuloy na ito with Shimao, Shangri-LA, and Trump following suit. :) :) :)

Metrobank to build RP’s tallest hotel

http://business.inquirer.net/money/breakingnews/view_article.php?article_id=69300
By Daxim Lucas
Inquirer
Last updated 10:44pm (Mla time) 06/03/2007


THE PROPERTY UNIT OF THE METROBANK GROUP plans to build the country’s tallest building which will also house a five-star hotel as part of its move to capitalize on the booming tourism business.

Sources familiar with the project revealed that Federal Land Inc. would build a 66-storey structure whose upper 20 floors would be occupied by a 350-room hotel.

The mixed-use complex would be built on the 27-hectare North Bonifacio district inside Fort Bonifacio Global City in Taguig.

Metropolitan Bank and Trust Co. owns 10.4 hectares of this property, while the remaining 16 odd hectares belong to the state-owned Bases Conversion and Development Authority (BCDA).

The building’s lower floors would also house high-grade office space, while a pair of 40-storey residential towers would also be built beside it.

Federal Land chair Alfred Ty said the entire complex would cost approximately P20 billion.

In an interview, Tourism Sec. Ace Durano lauded the initiative, saying it would further boost the tourism industry.

“The taipans are all investing in tourism now,” he said, referring to the country’s richest Chinese-Filipino businessmen. “The fact that they’re investing in the hospitality business is a big vote of confidence.”

The Metrobank Group already has a small footprint in the tourism business through its hotel in Cebu City managed by the Marco Polo chain.

Its most recent foray into the booming sector, however, follows the move of other conglomerates, like SM Investment Corp.’s launch of its P5-billion Hamilo Coast tourism project and Ayala Land Inc.’s P7.4-billion deal with Saudi-owned Kingdom Hotel Investments for a three-hotel complex in Makati City.

“I have always said that if we couldn’t convince our own taipans to invest in tourism, then we wouldn’t be able to convince other investors to come in,” Durano said.

Once completed, the entire complex would have a total floor area of 140,000 square meters. The hotel venture is part of a master plan being developed by Hellmuth, Obata & Kassabaum Inc. International Ltd.

The tourism chief said that the Metrobank Group’s project would ease the problem of lack of hotel rooms, which is one of the two main bottlenecks in the industry, the other being the lack of airline seats into and out of the country.

“If we address these bottlenecks, we could easily achieve 10 to 15 million arrivals each year,” he said.

Durano pointed out that the rising number of tourist arrivals have already resulted in the smoothening out of occupancy rates in Metro Manila, virtually eliminating peaks and troughs experienced in the past.

He added that this has also resulted in the “over-utilization” of the Ninoy Aquino International Airport’s Terminal 1 by as much as 167 percent, making the opening of the mothballed Terminal 3 even more urgent.
http://i132.photobucket.com/albums/q6/cionicboom/Image713Small.jpg
Try lang:)

It's not as bad as it seems. Great news for the Philippines.

Hopefully, this hotel can revive Philippine Airlines' routes to NYC and Europe.

oopss sorry.. I got confused with the names...

^^ Yup looks OK to me as well. Hawig nga to ng Shang St.Francis eh. :)
http://i132.photobucket.com/albums/q6/cionicboom/Image713Small.jpg

I think it would look better straight, really vertical, which would deliver a powerful statement indeed, a slanted design that would look better on a smaller scraper

^^ Yeah, it doesn't give justice to the height, why don't they go for a form that emphasizes height instead?

Is this project still unnamed? How about the long delayed masterplan? Or maybe it just doesn't get released publicly.

I wonder when the HOK masterplan for North Fort Boni is going to be incorporated in the Fort Boni FBDCorp link: http://www.fbdcorp.com/main.htm (click on Navigate the Future where one can see a Global City map)? Just that I have a feeling the HOK masterplan for North Fort Boni may already be done because of this article below. I'm not sure if the roadway project in North Fort Boni has already started but the article mentioned it's going to be underway na raw. Why build roadways aleady if the Masterplan is not yet ready di ba?

BCDA and Metrobank to build North Fort Boni roadway
The Bases Conversion and Development Authority (BCDA), led by its President and CEO Narciso Abaya and Metropolitan Bank and Trust Co. (Metrobank), led by its President Antonio Abacan, Jr., recently signed a memorandum of understanding (MOU) indicating both parties’ agreement to put up a road network inside Fort Bonifacio in Taguig. Metrobank owns 10.5 hectares of land known as the Metrobank NCBD Lot which is adjacent to the 16.5 hectares of land owned by BCDA (BCDA NCBD Lot), both of which are located inside the former military camp. As part of the MOU, BCDA and Metrobank agree to undertake the construction of Bonifacio Boulevard, a major road network that will traverse the Metrobank NCBD Lot and will allow access to both the Metrobank and BCDA NCBD Lots. Both parties also agree to equally share the right-of-way and construction costs for the development of the road project.

wow nice ahh... but there is still no construction being done on the Bonifacio Blvd... they only build roads to connect that office building in North Bonifacio near Hanjin..

how tall is the building, la pang news?

another Q! gano katangkad ang proposal sa gramercy at present?

I read somewhere Hyatt is one of the Hotels being courted for this structure as well...

Hotel expansion project to start
http://www.sunstar.com.ph/static/ceb/2007/05/07/bus/hotel.expansion.project.to.start.html

TO ESTABLISH itself as an urban resort destination in Cebu, Marco Polo Plaza is set to develop its 7.5-hectare property in Nivel Hills, Lahug, Cebu City.

Lynn Romero, Marco Polo sales and marketing consultant, announced that the second phase of the property development project is the construction of a recreational and sports facility that will include a tennis court and a driving range. The hotel will also have a bigger swimming pool

Romero said the multi-million peso development is targeted to be finished within the year.

Alfred Ty, Federal Land Inc. (FLI) president, said the company is bullish over Cebu’s hotel industry. The province is also a target for more FLI projects in the long run. FLI is the real estate arm of Metrobank Group, which developed the hotel property.

Ty said the successful operation of the Marco Polo hotel in the province has prompted the company to contemplate plans to ink a partnership with the hotel’s management group for another five-star hotel in Metro Manila.

“We are going to take advantage of the hotel’s success,” Ty said, adding that the company has confidence that the real estate boom in the country will serve as the main driver of the economy for a longer period of time.

“Developers have proven their resilience,” Ty said, in reference to the developers’ ability to “stand strong” despite several crises that hit the industry in the 1990s.

FLI is set to develop its 10.5-hectare property in Fort Bonifacio, Manila, with an investment of at least P20 billion for the development, Ty said.

He added that the infrastructure in the area will begin to be visible within the next three years. The infrastructure will include a five-star hotel.

Prime destination

Ty said the company will lure investors from the Asian region to locate in the area, which will include a mixed-use facility that has office buildings, hotel and retail establishments.

Details of the multi-billion peso commercial and tourism project will be announced in two months, he added.

In addition, FLI began its mall development called “Blue Wave” in Metro Manila. It will target the middle-range market.

FLI’s projects will be in real estate, including residential and mall developments, among others.

While the company’s portfolio this year is targeted in Manila, Ty assured Cebu is being eyed as the next prime destination.

Ty was in Cebu Friday during the first anniversary of Marco Polo Plaza Cebu.

I read somewhere Hyatt is one of the Hotels being courted for this structure as well...

He added that the infrastructure in the area will begin to be visible within the next three years. The infrastructure will include a five-star hotel.

Ang bilis ah.

In addition, FLI began its mall development called “Blue Wave” in Metro Manila. It will target the middle-range market.

I hope North Bonifacio won't get a Blue Wave, something ala Power Plant sana. BGC already has Market! Market! to serve the CDE crowd anyway.

I read somewhere Hyatt is one of the Hotels being courted for this structure as well...

Details of the multi-billion peso commercial and tourism project will be announced in two months, he added.

Sana nga.

http://i132.photobucket.com/albums/q6/cionicboom/Image713Small.jpg
Try lang:)

Official Render?

It did came from Fedland, but it could still be subject to changes.

Is there any work going on with North Bonifacio's infrastructure?

I heard about this rumor that they're trying to involve the structural guys who designed the St. Francis in this project. I guess they wanted to have the same system that St. Francis has for this building.

Wow 2 possible 6 Star Hotels in Fort Boni! Exciting News for BGC! Global City is booming! :banana: :banana: :banana:

Top Chinese realtor keen on Fort Boni land
By Katrina Mennen A. Valdez Reporter
Manila Times
http://www.manilatimes.net/national/2007/sept/06/yehey/business/20070906bus7.html

Shimao Group, China’s top real estate and hotel developer, will bid for two properties in Fort Bonifacio Global City, Bases Conversion and Development Authority announced Wednesday.

Retired general and BCDA President Narciso Abaya told reporters that the Shanghai-based company has expressed serious interest in joining the bid for some 40 hectares of land inside the Jusmag compound at Fort Bonifacio.

He said Shimao plans to invest at least $2 billion for hotel development and mixed-use buildings and will be submitting its proposal by early next year.

Shimao will also bid for the 7.4-hectare land in North Bonifacio and will submit its proposal in November this year. “They are planning to construct a six-star hotel, office buildings and residential buildings,” Abaya said.

Meanwhile, the BCDA’s cumulative earnings reached P38.294 billion in a span of 15 years up to last month. Of the amount, 80 percent, or P30.360 billion were earned through the Fort Bonifacio Development Corp., while 12 percent of which valued at P4.784 billion was generated from lease and joint ventures. The remaining 5 percent, or P1.9 billion were proceeds from the sale of properties at the Fort Bonifacio and other camps managed by the BCDA, while securitization raised P1.245 billion.

Abaya said 43 percent of the earnings amounting to P16,437-billion fund the modernization programs of the Armed Forces of the Philippines, 18 percent, or P6.764 billion goes to the site development and relocation expenses and 6 percent, or P2.335 billion was allotted for tax and fees. BCDA gets 15 percent of the earnings or P5.822 billion, while the other 15 percent, or P5.90 billion is distributed to other agencies.

This year, BCDA expects to complete 59 projects as compared with last year’s 51 projects. These projects include residential developments such as the Serendra, Forbeswood Heights, Kensington, Bellagio, Fariways, South of Market and Fifth Avenue Place, and office buildings such as Net Square, HSBC Building, Hanjin Philippines, and the Singapore Chancery.


_________________________________________




Kuwaiti and Chinese leisure property developers
keen on doing business in the country
BusinessWorld
September 6, 2007

(for full article: http://www.bworldonline.com/BW090607/content.php?id=043)

As this developed, Shanghai-based property giant Shimao Group has firmed up plans to develop a high-end hotel and mixed-use buildings in the Bonifacio Global City area, the Bases Conversion Development Authority (BCDA) said yesterday.

In a talk with reporters, BCDA President Narciso L. Abaya said his agency was only awaiting proposals from Shimao for the development of a 7.4-hectare lot in North Bonifacio and a 35 to 40-ha. Joint US Military Assistance Group (JUSMAG) area.

"As is the policy, we will have to have a competitive selection, bidding or a modified bidding like a Swiss challenge... if the offer is a non-solicited proposal. The terms of reference are now being worked out by the government on how to conduct the joint venture," he said.

Trade Secretary Peter B. Favila earlier announced BCDA, which oversees development of former military lands, was discussing a $2-billion investment deal with Shimao.

In March, the BCDA inked a memorandum of understanding with the group to jointly develop prime areas in the Bonifacio Global City area near the Makati business district.

"We own the land they (Shimao) will develop it. As part of the criterion for selecting the best offer, we will be very particular about the project cost or the amount of investment since these are prime lands," Mr. Abaya said.

Shimao is expected to submit its proposal for the 7.4-ha. North Bonifacio lot by November and early next year for the JUSMAG property. Prebidding conference is slated for Sept. 10.

Mr. Abaya earlier described the partnership with the Shimao Group to be among the largest in property development in the Philippines. This, he had said, could make Global City an international business district.

Shimao Group Chairman Hui Wing Mau, in a visit in Manila early this year, said his company would be investing $2-$4 billion in a high-end hotel and mixed-use buildings in Global City, which used to be part of a military base.

Forbes Magazine ranked Mr. Hui as the second-richest person in China in 2002. The 2007 Forbes.com list of the world’s billionaires ranked him 249th.

Shimao Group owns 10 luxury hotels in China, including Shanghai hotels Le Meridian, Royal Meridien — which at 66 floors is the tallest structure in Shanghai — and Grand Hyatt.

Traded on the Hong Kong stock exchange, the Shimao Group has an inventory of more than 20 million square meters of luxury offices and residential condominiums and continues to build an average of four million square meters a year. — R.A.M. Rubio and Bernardette S. Sto. Domingo
^^ I heard they are courting the Hyatt group to operate (a Grand Hyatt) in that MetroBank proposed tallest building/structure in North Fort Boni. I wonder if this is going to be the 6-Star Hotel mentioned in the article. :)

Ty, Gokongwei to develop 2-ha property
http://www.tmcnet.com/usubmit/2007/08/13/2858668.htm

THE PROPERTY FIRMS OF TAIPANS GEORGE Ty and John Gokongwei Jr. have teamed up to develop a two-hectare property in Mandaluyong City.

Federal Land Inc. of Ty and Robinsons Land Corp. of Gokongwei will jointly develop a lot at the back of the Robinsons-owned office complex along Pioneer St. into a premier residential condominium, RLC said in a statement.

Inquirer sources said the project would be covered by RLCs P10-billion capital spending in 2008.

Sources said the lot was owned by Federal Land, adding that this venture would open doors for RLC to the Ty Groups huge land bank.

The new condominium complex, to be named The Links, will be composed of five residential towers. The joint venture project will be launched in the third quarter.

The project will help address the needs of various target markets looking for an attractive address that is close to the central business districts (Makati, Fort Bonifacio Global City and Ortigas City) but not at the price of current CBD properties.

The first phase of development, to cover the first two towers, is now being drawn-up by architect Recio + Casas.

The alliance is seen to usher the rebirth of the so-called mini-satellite business district along Pioneer Street.

Further, the partnership supports the housing sectors goal of providing quality condominiums in the mid-cost sectorin the range of P 3 million and above.

The Links aims to tap the growing residential needs of mid-level to senior executives, entrepreneurs, medical professionals, expatriates, young couples and startup families. Units will be available in one-, two- and three-bedroom models.

Federal Land, the real-estate arm of banking giant Metrobank, started in 1972. It now has more than 30 projects.

In a previous interview, Federal Land president Alfred Ty said the company was spending P5 billion this year for projects. The planned project in Fort Bonifacio will be part of Federal Lands estimated P5-billion capital expenditure budget next year.

Ty told the Inquirer that Federal Land has increased its budget next year from P3 billion this year as it was seeing more opportunities in the property sector.

This year, Federal Land has started construction on two new towers for each of its residential condominium projects, Bay Garden in Pasay City and Marquinton Residences in Marikina.

Next year, Federal Land hopes to expand further its Marikina residential cluster and start new projects in Makati and Quezon City.

Last year, Federal Land tapped Hong Kong-based firm Hellmuth, Obota, and Kassabaum (HOK) International Ltd. to complete a master plan to develop a 25-hectare property at the Bonifacio Global City in Taguig.

The master plan covers a 10.4-hectare property owned by Metrobank and two lots (15.3 hectares) held by state-owned Bases Conversion and Development Authority.

Gokongwei-led Robinsons Land Corp. started in 1980, and is now one of the countrys biggest property developers, with 18 malls, 23 residential subdivisions, 22 residential condominiums, six office buildings and four hotels.

RLC recently acquired from Professional Services Inc. a one-hectare lot at the old site of The Medical City at the corner of San Miguel Ave. and Lourdes Street in Mandaluyong City. It hopes to transform the property into a mixed-use complex consisting of high-rise residential towers, a commercial center and a hotel.



________________________________________



P20-B property dev’t
BY RUBY ANNE M. RUBIO, Senior Reporter
GMA News

Federal Land, Inc., the property arm of Metrobank group, plans to spend about P20 billion in 10 years to transform the 25-hectare property it owns in Fort Bonifacio together with Bases Conversion and Development Authority (BCDA) into a central business district.

Federal Land Chairman Alfred V. Ty said in an interview that several groups from Asia have expressed interest in the Fort Bonifacio project, which will take almost 10 years to complete. He declined to disclose their identities.

Federal Land has tapped global design firm Hellmuth, Obata & Kassabaum, Inc. (HOK) International Ltd. to complete the master plan to develop the northern part of the Bonifacio Global City in Fort Bonifacio. It will cover the 10.4-hectare property owned by the country’s largest lender, Metropolitan Bank & Trust Company (Metrobank), and two lots totaling 15.3 hectares of state-owned BCDA.

"The place is designed for mixed use. It can’t just be all retail or commercial. It will be a mix of different components such as office, hotel, residential and retail. We think our 25-hectare property will be in a good position to complement with the existing Fort Bonifacio development where the core is. I think it could work well. We are cognizant of the plans they have there," Mr. Ty said.

It is a "possibility" that Federal Land will tap Hong Kong-based Marco Polo Hotel Group for the five-star hotel facility it plans to build. Mr. Ty said his firm has not reached any agreement yet, although Marco Polo Hotel has been eyeing to operate a hotel in Metro Manila next.

"We have not gotten to that stage yet, but we might [partner with Marco Polo]. It is too early of a discussion stage; we are happy with Marco Polo Plaza Cebu. They are doing a very good job with us here in Cebu," he added.

In a separate interview, Marco Polo Plaza Cebu General Manager Hans R. Hauri said expanding would be "very beneficial" for Marco Polo Hotel Group, which has a portfolio of 10 properties in Asia, including the two hotels in Davao and Cebu. "If we can have a third hotel in the capital city [Metro Manila] where the opinions are formed... we are known as a brand delivering high quality service; this will carry over from Cebu and Davao," he added.

"I think it is a welcome news that there are more players, more developments; the right developer comes along establishes creativity in the market. I believe they have very good properties also," Mr. Ty said. "This real estate boom we are experiencing for now does not have to be a short-stint cycle. The government and private sector have to work together. The real estate industry can really be a big motivator for the economy."

"I think the developers have proven their resilience during the crisis period and we still kept developing and coming up with innovative products... on how to make it more attractive and more affordable to the people," he added.

no new news?

naiinip na ako :D

^^ Ako din! :)


http://i132.photobucket.com/albums/q6/cionicboom/Image713Small.jpg

RP’s tallest building to rise in Taguig
By Julie M. Aurelio
Inquirer

MANILA, Philippines -- A 66-story edifice being touted as the country's tallest building will soon rise in Taguig City later this year, Mayor Freddie Tinga said on Thursday.

Tinga bared plans by real estate developer Federal Land Inc. to construct the mixed use building which will also house a fully furnished five-star hotel, on a 27-hectare lot in the North Bonifacio district later this year.

The mayor added that the building would feature 350 rooms with five-star hotel facilities, as well as residential and commercial units.

“Given the continuous development of the city, Taguig is fast becoming an ideal tourism destination in Metro Manila,” Tinga said.

The Federal Land Inc, a property unit of the Metrobank group of companies, is estimated to spend at least P20 billion for the complex.

The Metropolitan Bank and Trust Company already owns 10.6 ha where the 66-story building is set to rise.

The remaining 16 ha belong to the state-owned Bases Conversion and Development Authority (BCDA).

"Choosing Taguig was an easy decision to make, especially with its rapidly growing development as a result of forward looking urban planning schemes,” company president Alfred V. Ty said in a statement.

The rapid development of the Global City in Fort Bonifacio has made Taguig City an alternative business district in the country, he added.

Meanwhile, Tinga noted that the progress the city has made in the past decade would ensure Taguig City's status as “a total package city.”

“The completion of the country’s tallest building at the Fort will complement our efforts in promoting Taguig as a 'total package' city and will certainly put us in the tourism map of the Philippines,” the newly reelected mayor said.

Tinga, who was reelected along with incumbent vice mayor George Elias, is set to take his oath this Saturday at City Hall.

He also lauded the Metrobank Group, adding that such private sector initiatives were crucial in sustaining the country's growth.

“This will open up more doors for Taguig, which has now become a key investment city in Metro Manila. But more than the opportunities that it offers our city, we believe this will eventually benefit our country’s economy,” Tinga pointed out.

“This is exactly what we have envisioned for Taguig, particularly here in Fort Bonifacio -- a place where people can live, work, and enjoy in one community. And this is now coming true, with the help of our private sector partners,” the city mayor said.

Some news about MetroBank's tallest building in RP...



Lexus is here (seriously)

by Vernon B. Sarne
The Manila Times
December 11 2007

YOU are totally forgiven for wanting to take this news with a grain of salt. You have, after all, heard a lot of talk the past couple of years about the supposed arrival of Lexus in the Philippines. I myself have been guilty of repeatedly jumping the gun on Toyota's luxury brand. To the point where people have begun tagging the story as an urban legend.

Well, guess what: Lexus is finally and truly here. As I write this, an invitation from Toyota Motor Phils. with a Lexus letterhead sits on my desk, requesting me to attend the groundbreaking ceremony for the Lexus showroom at the Fort Bonifacio Global City this weekend. The exact venue is on 34th Street of the Taguig property, right behind MC Home Depot and near the Manila Speedzone. I'm assuming that TMP has ironed out the rumored kinks in the negotiations for the 4,500 square meters of real estate on which the Lexus facility will sit.

The Lexus showroom will be the first establishment in Metrobank Corp.'s 27-hectare property in Fort Bonifacio. Construction of the facility will commence this month and should finish by the final quarter of 2008. Word has it that TMP chairman George S.K. Ty is also putting up what is bound to be the country's tallest building near the Lexus edifice. And right across the street will soon rise Toyota's flagship showroom. Good luck to the competition. :cheers:

The high-end Lexus structure will have three floors and will house the brand's internal offices, stockyard, service center and six-car showroom. Why a six-car display area? Because that's exactly the number of models Lexus Phils. is introducing when it opens shop late next year. These vehicles are the 2007 World Car of the Year LS460 full-size luxury sedan; the Camry-based ES350 midsize luxury sedan; the GS460 midsize luxury sports sedan; the rear-wheel-drive IS300 compact premium sedan; the newly unveiled LX570 large SUV; and the Harrier-based and projected bread-and-butter RX350 midsize luxury crossover SUV. (At least now you know exactly what to save up for.) All these models will be completely built-up units and are made in Japan.

Needless to say, TMP is pitting the Lexus brand squarely against BMW, Volvo and Mercedes-Benz. It hopes to immediately sell about 20 units a month and eventually capture 8 percent of the luxury passenger car segment and about 13 percent of the luxury SUV segment in its first year of operation in the country. Right now, BMW lords it over the luxury segment by owning 70 percent of the passenger cars and 50 percent of the SUVs.

Lexus Phils. is a joint venture between Toyota Motor Phils. (75 percent) and Mitsui & Co. Ltd. (25 percent). According to my infallible source, current TMP first vice president for marketing Danny Isla will serve as president of the division, initially with about 30 employees to be under him.

Expect TMP to pull out all the stops in erecting the Lexus edifice. The exterior will reportedly feature a computer-controlled water fountain and a full-height showroom glass. The interior, meanwhile, will showcase a garden, first-rate customer amenities and a state-of-the-art workshop area. Expect also TMP to fully concentrate on this showroom as it stands to be the one and only Lexus dealership on our shores in the foreseeable future; Toyota does not intend to open a second Lexus showroom within the first three years of operation.

Lexus was formally launched in 1989 in the United States, with the LS400 as its very first model. Toyota advertised this car by placing champagne glasses on the hood of a running unit, clearly boasting that the engine and the ride were exceptionally smooth.

Lexus currently operates in 57 countries, with the Philippines soon becoming the 18th Asian market to sell the brand. Lexus was likewise belatedly introduced in Japan in 2005, despite the country being the company's home base. This is because the brand was really conceptualized originally for the North American market, which presently accounts for two-thirds of Lexus' global sales of about half a million units. Perhaps the most telling indication of Lexus' quality is its number one position sales-wise in the luxury market in the US. For the past decade or so, Lexus has also consistently topped quality surveys in the most demanding auto market on the planet.

Asked how TMP plans to market Lexus versus BMW (sporty luxury), Volvo (safety) and Mercedes-Benz (traditional luxury), my source says Lexus will adopt the following selling points: quality, refinement and a satisfying ownership experience.

Now that Lexus is here, could Honda's Acura and Nissan's Infiniti be next? :cheers:

Probably not good to hold your breath.

http://www.bworldonline.com/BW121207/content.php?id=023

^^ Its one good news. Big fishes are now being caught. To the BIR, continue a job well done.:cheers:

Hopefully this will not affect the project coming to fruition...

Court orders Metrobank to pay back taxes
By Maricel E. Burgonio Reporter
Manila Times
http://www.manilatimes.net/national/2007/dec/12/yehey/business/20071212bus6.html

The Court of Tax Appeals has ordered the Metropolitan Bank and Trust Co. (Metrobank), the Philippines’ largest bank, to pay back taxes running to billions of pesos, the Bureau of Internal Revenue said Tuesday.

In a statement, BIR said Metrobank will pay P3.786 billion in back taxes and interests derived from documentary-stamp taxes, deficiency gross-receipts tax for universal saving accounts, interbank call loans and onshore income.

“At the rate that we are going on these criminal cases, the BIR’s batting average in winning its tax cases in various courts and tribunals has increased to an unprecedented 87 percent. And we hope to achieve more in the coming years,” Gregorio V. Cabantac, BIR deputy commissioner for Legal and Inspection Group, said.

The BIR is pursuing tax evasion cases against erring companies and individuals to encourage the pub-lic to pay correct taxes voluntarily to avoid legal tussles and criminal liabilities.

“We want to bring home the message that the BIR is relentlessly pursuing tax evasion cases, and we are optimistic that the long arm of the law will finally catch up with them,” he said.

Moreover, Cabantac said CTA decided in favor of BIR on three cases amounting to P1.7 billion in loss revenues for the govern-ment out of four in the P5.3-billion tax credit scam involving fraudulent use of tax-credit certificates in mid-1990s

The last case is still pending before the CTA.

Earlier, after falling short of its target collection from large tax-payers in January to November this year, the BIR said it would assess banks with existing documentary stamp tax liabilities on their special saving accounts.

BIR Commissioner Lilian B. Hefti said the agency has issued final assessment notice to large banks and financial institutions covered by the tax amnesty law, except those cases that were ruled by the Supreme Court in favor of the BIR.

BIR’s diagnostic analysis on large taxpayers service resulted in P8-billion shortfall in January to November this year despite the reported increase in profits of many banks.



______________________________



Metrobank appeals tax court decision on alleged back taxes
ABS-CBN
http://www.abs-cbnnews.com/storypage.aspx?StoryId=102166

Metropolitan Bank and Trust Co. (Metrobank), the country's biggest lender by assets, has asked the Court of Tax Appeals (CTA) to reconsider its decision ordering the bank to pay alleged back taxes since the 1990s.

In a disclosure to the stock exchange, Metrobank said it has filed a motion for reconsideration after it was ordered by the CTA to pay the Bureau of Internal Revenue (BIR) P3.79 billion in back taxes.

The amount represents what the BIR said were Metrobank’s unpaid documentary stamps and gross receipt taxes on special savings accounts.

"In any event, we are ready to avail of other legal remedies, including going to the Supreme Court, to finally resolve this industry issue," said Antonio Viray, Metrobank assistant corporate secretary.

"Pending the resolution of this matter, we would like to assure the public that throughout its 45-year history, Metrobank has not been remiss in its responsibilities to the country, especially with regards to paying taxes."

Metrobank said that for the past three years, it remitted P64.4 billion in national and municipal taxes.

Last year alone, the bank said it paid the government P24.5 billion in taxes.

So looks like the unified PSE building site will indeed be beside the lot across Hyundai up for bidding (once again) and the future Shang location along Boni High Street extension. With all these high profile projects, 5th Avenue is really turning out to be BGC's equivalent of Makati's Ayala Ave. Great another new project in the pipeline: The Waltz (across St.Luke's). Good to know MetroBank's tallest is still a Go. And excited to see Shimao's project plan in North Fort. BGC's evolution continues! Great News indeed! Thanks for posting the article Ty & TC! :okay: :okay:


BCDA slated to sell 5 prime Boni lots
Friday, December 14, 2007
http://www.mb.com.ph/images/spacer.jpg
http://www.mb.com.ph/BSNS20071214111519.html

The Bases Conversion Development Authority (BCDA) has scheduled the disposition of five prime lots in Fort Bonifacio next year with projected revenue generation of P7.275 billion over a period of time.

BCDA president Narciso Abaya said the five lots with a combined hectarage of 18.3 are the expanded Big Delta (formerly the Government Center for Investments (GCI), Villamor Driving Range, North Bonifacio, NCBD and PA SEG.


Except for the Villamor Driving Range and PA SEG, which would be disposed on a straight sale basis, the three others would be for joint venture and lease schemes.

Most notable in these properties is the Expanded Big Delta, which bidding had already failed twice. The 12,036 square meter property is expected to fetch P1.93 billion in revenues.

Abaya said the BCDA Board has agreed to remove the condition among bidders that they come up with a substitute credit facility.
It could be recalled that BCDA has mortgaged the property to local banks to cover for the P4 billion capital requirement for the construction of the SubicClark-Tarlac Expressway.

But since, the Japan Bank for International Cooperation has already to a supplemental loan agreement the BCDA did not see any need for the loan from the local bank

"The substitute credit facility has been the most contentious issue during the two failed biddings," Abaya said.

According to BCDA vicepresident for business development Aileen Zosa also explained that while BCDA can relax this requirement, they cannot lower the price of the property at P160,000 per square meter for a floor area ratio of 12 because of its prime location.

"We don’t want to compromise on the price and we figure there will be better conditions next year," Zosa said.

"The property is designed for AAA development because it is just beside the proposed new Philippine Stock Exchange building and Shangri-la hotel so the development must blend with the kind of development in that area," Abaya said.

Abaya further said that even as they are allowed under the law to conduct a negotiated sale after the two failed bids for the Big Delta property, they have to do another competitive public bidding to avoid any speculation.

"This a big and high-value property and we have to avoid any speculation so we are predisposed to go for a public bidding for the third time next year," he said.

New interested bidders to the property include an Austrian firm, which is building iconic The Waltz building across St. Lukes in Fort Bonifacio.

The 67,000 square meter NCBD lot, which is located north of Bonifacio and near the S & R property, is expected to contribute P3 billion in projected revenues to the BCDA of which P700 million would be paid upfront cash.
The NCBD property has an appraised value of P85,000 per square meter.
For the 70,000 square meter North Bonifacio lot, a raw land, the BCDA expected a revenue share of P2 billion with P700 million upfront cash.

The Shimao Group of China is expected to submit its feasibility study for the property before of this year after which the BCDA would subject it to a Swiss Challenge.

"The action is in North Bonifacio now where Metrobank is constructing new roads and its iconic 66-floor Tower," Zosa said.

The 21,463 square meter PA SEG property is expected to chip in P150.24 million to BCDA while the 13,000 square meter Villamor Driving Range, which is designed for mixed-use development may raise P195 million for the BCDA.

Other properties for disposition inside the Fort Bonifacio include the SHAI/JUSMAG (355,042 square meters), NOVAI (258,406 square meters) and ASCOM/BNS/Marine headquarters (331,327 square meters).
Outside of the Fort Bonifacio, the BCDA has yet to privatize the Camp Melchor in Libis and Fort Abad in Roxas Boulevard, which houses the Philippine Navy headquaters.(BCM)


Sorry but I can't seem to find the following article online... I just typed the 1st few paragraphs... :)

Shimao readies $4B plan for Boni
M.V. de Leon
BusinessMirror
December 13, 2007

Shanghai-based developer Shimao Group is expected to submit in the next 2 weeks its final proposal for its $4B integrated development project in Bonifacio Global City.

Aileen Zosa, vice president of the Bases Conversion and Development Authority (BCDA), said the plan to be submitted by Shimao will reflect its feasibility studies on its proposed projects in the North Bonifacio and Jusmag area.

"Their proposal is due before the end of the year. We are sure they will submit it," Zosa told reporters Thursday.

After getting hold of the Shimao's offer, Zosa said they will evaluate and then present it to the public for possible challenge from other interested developers of the area.

....

Federal Land hikes capital to P1.5B
By Zinnia B. Dela Peña
Monday, December 17, 2007
PhilStar
http://www.philstar.com/index.php?Business&p=49&type=2&sec=27&aid=200712168

Federal Land Inc., the property arm of the Metrobank Group of taipan George S.K. Ty, is raising its capitalization to P1.5 billion from only P500 million. Based on documents filed with the Securities and Exchange Commission (SEC), Federal Land’s new capitalization will consist of 15 million shares with a par value of P100 per share compared with the existing capital of five million shares.

Out of the increase in capital stock, P1 billion has been subscribed and P500 million paid in cash by existing shareholders – Ausan Resources Corp., Grande Estate Property Corp., “Inter-Par Resources Corp., Glam Holdings Corp., Horizon Royale Holdings Inc., Paravisions Limited, Solidshare Holdings Philippines Inc., among others.

Federal Land is setting aside P5 billion next year for the establishment of top of the line office buildings catering to the business process outsourcing industry and more residential condominium buildings.

The programed capital budget for next year is higher than the P3 billion-P4 billion alloted this year as the company starts work on new projects and new phases of existing developments.

Federal Land is putting up a three- tower office building on a 1.5-hectare property within the Metropolitan Park in Pasay City, estimated to cost around P2 billion. Each tower will have a gross floor area of 65,000 square meters and a leasable area of 55,000 square meters.

The first tower, slated for completion in June 2008, will offer 10,000 square meters of office space and will be registered with the PEZA.

The company is also considering putting up BPO buildings in Fort Bonifacio in Taguig.

Federal Land is set to complete the masterplan for a 25 hectare property in the northern portion of the Bonifacio Global City by the end of the year. Of the total, 10.4 hectares belong to Fedland.

The property will be converted into a high-end mixed-use township with residential, commercial, retail, office building and hotel developments.

Aside from this, Fedland is developing a P4-billion, three tower complex within the Bay Garden community in Pasay City which will include residential units, full-serviced apartments, and an athletics club.

The company is also set to embark on its first horizontal development project which would be in Cavite.

Fedland’s project portfolio includes Bayview International Towers and Ocean Tower along Roxas Boulevard; Valencia Hills in the heart of San Juan and Quezon City; Oriental Gardens and Skyland Plaza in Makati City.

The company also developed the PSBank Tower and the GT Tower International along the Makati Central Business District, as well as ongoing property development in the Metropolitan Park along the Manila Bay waterfront.

As a whole, businessmen see a healthier 2008
By Ray Butch Gamboa
Saturday, December 22, 2007
PhilStar
http://www.philstar.com/index.php?Business&p=49&type=2&sec=27&aid=2007122113

As Christmas Day draws nearer, we are all swept into the euphoria of the season. Actually, it wasn’t such a bad year. If we listen to the eminent business leaders, they are very bullish about the Philippine economy and apparently, this carries on even to the next year.

As is our tradition in our TV show, Business and Leisure, our crew went around asking prominent businessmen and key government officials in the business sector about their forecasts for the coming year. For most of them, 2008 holds much promise as key projects and deals hatched in 2007 get off to a rousing start.

Samie Lim, the indefatigable president of the Philippine Chamber of Commerce and Industry (PCCI) was happy to report on the seven-percent GDP growth, and happier yet to prove the doomsayers wrong. He said virtually nobody believed the PCCI prediction of a seven-percent growth, but the organization’s Board and staff firmly believed that the country had to achieve this dramatic spur if we are to get out of the poverty situation.

2008 should be pretty much the same, Samie says, but he foresees many of the listed companies going global in the next few years. He believes franchising is still the key for entrepreneurs who have available financing but do not have the technical and management infrastructure to support their business.

What is more significant in Samie’s predictions is how he feels about the Asean region vis-à-vis the more established economies. He feels that the combined GDP of developing nations will be more than 50 percent of the big boys’ GDP, making these nations the most significant economic block in the next few years. A dramatic reversal indeed, and quite a bold prediction.

Also from the PCCI, Chairman Emeritus Donald Dee says he shares the optimism of many of his colleagues, notwithstanding the strong peso that has tilted the balance wrongly for some sectors, the sagging US economy where most other economies are hinged on, and the energy sector that has kept pricing unstable for many industries. He feels, though, that the privatization of the NTC should stabilize this somehow, and this should be happening sometime in the middle of next year.

I’m happy to hear from Ambassador Francis Chua that the Philippines enjoys a trade surplus with China. Apparently, the Philippine seas continue to be a favorite fishing ground. China imports about 50 percent of their seafood requirements from us and regards us as their most important exporter yet, and no other country in the region seems to threaten this position, which is good news to our fishing businessmen and traders. Incidentally, we also export semi conductors heavily to China. Likewise, Francis reported on another hefty mining deal just recently forged between China and the Philippines.

As for the service sector, there is also much promise here especially in healthcare, technical and management service. Ambassador Chua reports that their foundation will come out with different projects, seminars, management programs, technical schooling, even the teaching of the Mandarin language to Filipinos seeking employment in China to prepare them to fill positions in these sectors. This is also in consonance with the PCCI’s objective of lending support to all PCCI members, lending value to their membership in this prestigious body. It pays to be a member of PCCI, and they aim to prove its worth as a parent organization.

In the property sector, there are new and exciting projects, many of them to break ground by next year. As you know, residential condominiums, town houses and office condominiums have been sprouting like mad in the metropolis. Federal Land is one of the busiest developers hereabout. The company’s youthful president, Alfred Ty told me that they used the better half of 2007 planning and mapping out the company’s strategic projects for 2008. This includes a big hotel/office project in Fort Bonifacio and another one in Greenbelt. Of course, Alfred’s local Toyota office has commenced preparations for the entry of the high end Lexus luxury automobiles and they had a ground breaking of the office and showroom just this week at the Fort. This should be ready by next year.

Toyota Motors Philippines president Hiroshi Ito was also excited about Toyota’s prospects for the coming year when I talked to him recently. They expect a seven-percent to eight -percent increase in sales in the coming years.

Still very much the government’s cash cow is the Bases Conversion Development Authority which has generated a lot of sales this year. According to Ms. Aileen Soza, vice president for Planning and Development of BCDA, they plan a more aggressive disposition of BCDA properties next year and hope to generate at least P5 billion in 2008. They expect massive development in Bonifacio Global City, expecting to generate at least 2.6 million square meters of gross floor area, to include residential, office, retail and entertainment use.

As of October 2007, the BCDA’s total disposition proceeds stood at P38.2 billion at Fort Bonifacio and Villamor Air Base. The biggest beneficiary of this was the AFP. BCDA remitted a total of P16.44 billion to the AFP, P6.9 billion of which was for the AFP modernization program, and P9.49 billion for the replication and relocation of the military facilities affected by the development.

Other beneficiaries include the National Shelter Program (P5.9 B), the DepEd, CHED, as well as the surrounding municipalities of Bonifacio and Villamor.

For 2008, some of the properties slated for disposition by the BCDA include a 1.2-hectare expanded Big Delta lot, a big expanse of land (seven hectares) in North Bonifacio, 1.3 hectares at Villamor, two hectares at McKinley Hills, and a seven hectare NCBD lot. These are prime lots, a developer’s dream, so there should be a mad scramble for these properties by next year.

The sad note in all the rosy forecasts we received was from Sergio Luis Ortiz Jr. of the exporters’ group. Though he expects the national economy to continue to grow next year, he feels that the exporters’ plight will continue to be gloomy up to 2010.

There was an unprecedented buying spree of properties from the OFWs, the new middle class, and Jun feels that with the mitigated buying capacity of their remittances, many of these OFWs will not be able to meet their installments. The effect of this will be felt not only by the OFWs themselves and their families but also by the developers and the funding banks and other financing institutions. We certainly hope otherwise, but Mr. Luis-Ortiz predicts a possible rise in unemployment by 2008, unless the government stems the rise of the peso. He cautions that left uncontrolled, the exchange rate problem will continue to bring down the OFWs and the export sector as well.

So looks like they'll be starting this landmark soon...Great News indeed! :banana: :banana: :banana:


Construction of RP’s tallest tower to start
Thursday, January 10, 2008

The construction of a 66-story mixed-use building, which its proponents claim will be the country’s tallest tower, will start this year.

The structure, which will house a 350-room five-star hotel aside from residential and commercial units, will be built on a 27-hectare lot in the Fort Bonifacio.

Taguig Councilor Allan Paul Cruz said they have already addressed zoning and road networking issues.

Federal Land Inc., a unit of the Metrobank Group, is spearheading the project. Federal Land said the entire complex will cost approximately P20 billion.

The Metropolitan Bank and Trust Co. already owns 10.6 hectares, while the other 16 hectares belong to the state-owned Bases Conversion and Development Authority.

“Taguig is an ideal tourism destination in Metro Manila, given the continuous development in the city. The completion of the country’s tallest building at The Fort will complement our efforts in promoting Taguig as a ‘total package’ city and will certainly put us in the tourism map of the Philippines,” Mayor Sigfrido Tiñga said. – Rhodina Villanueva

any prediction bout the height guys? will it topple the lopezes?

sana...:D

i heard from industry colleagues that it will be just a few floors taller than PBCom Tower.

that's right. 66 - 53. That's 13 floor higher. So dapat yung 13 floors na yan, mas mataas pa keysa sa radio room ng PB Com to ensure safe spot as tallest. nga lang, what if the rumored Shangri La Tower gets built? Residential lang naman so mas mataas pa rin to. Ano naman masasabi ng Lopez? hanggang ngayon, fence pa rin ang makikita sa site ng Lopez Tower nila.

faux_ph, do your colleagues know the height in meters of this project?

I can get that info but I can't divulge due to client non-disclosure agreement (CNDA) so I'd rather not seek for it at the moment. Masisisante ako nyan, ha ha ha!

ok lang. we'll give you a job. just give us that height figure please...

hehe...j/k.

yun okay yan. dami nang supertalls na proposed. sana mag approve lahat para may pambato na tayo. haha. i hop PAGCOR tower gets built too. haha. :)

Guys, here is something to remember when we use the "TALLEST" tag and it's from http://www.answers.com/topic/list-of-tallest-buildings-and-structures-in-the-world

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Tallest Building

Up until 1998 the tallest building status was essentially uncontested.

Counting buildings as structures with floors throughout, and with antenna masts excluded, the Sears Tower in Chicago was considered the tallest.

When the Petronas Twin Towers in Kuala Lumpur, Malaysia were built, controversy arose because the spire extended nine meters higher than the roof of the Sears Tower. Excluding the spire, the Petronas Towers are not taller than the Sears Tower.

At their convention in Chicago, the Council on Tall Buildings and Urban Habitat (CTBUH) reduced the Sears Tower from world's tallest and pronounced it not second tallest, but third, and pronounced Petronas as world's tallest.

This action caused a considerable amount of controversy, so CTBUH defined four categories in which the world's tallest building can be measured:

Height to the structural or architectural top (including spires and pinnacles, but not antennas, masts or flagpoles)
Height to the highest occupied floor
Height to the top of the roof
Height to the top of antenna The height is measured from the pavement level of the main entrance.

At the time, the Sears Tower held first place in the second and third categories. Petronas held the first category, and the original World Trade Towers held the fourth. Within months, however, a new antenna mast was placed on the Sears Tower, giving it hold of the fourth category.

On April 20, 2004, the Taipei 101 in Taipei, Taiwan, was completed. Its completion gave it the world record for the first three categories. On July 21, 2007 it was announced that the Burj Dubai had surpassed Taipei 101 in height, reaching 512 m (1,680 feet) tall. However Burj Dubai is still under construction.

Today, Taipei 101 leads in the first category with 509 m (1,671 feet); in the second category with an occupied floor at 439 m (1,441 feet); and in the third category with 449 m (1,474 feet). The first category was formerly held by the Petronas Twin Towers with 452 m (1,483 feet), and before that by Sears Tower with 442 m (1,451 feet). The second and third categories were held by the Sears Tower, with 412 m (1,351 feet) and 442 m (1,451 feet) respectively.

The Sears Tower still leads in the fourth category with 527 m (1,729 feet), previously held by the World Trade Center until the extension of the Chicago tower's western broadcast antenna in 2000, over a year prior to the Trade Center's destruction in 2001. Its antenna mast included, 1 World Trade Center measured 526 m (1,727 feet). The World Trade Center became the world's tallest buildings to be destroyed or demolished; indeed, its site entered the record books twice on September 11, 2001, in that category, replacing the Singer Building, which once stood a block from the WTC site.

The Ostankino Tower and the CN Tower are excluded from these categories because they are not "habitable buildings", which are defined as frame structures made with floors and walls throughout.

And then there is Tallest Building by Function

Tallest Mixed Use - Burj Dubai, UAE 575m
Tallest Mixed Use (completed only) - John Hancock Center, USA 344m
Tallest Office - Taipei 101, Taiwan 509m
Tallest Residential - Q1, Australia 322.5m
Tallest Hotel - Rose Tower, UAE 333m
Tallest Hotel (completed only) - Burj Al Arab, UAE 321m
Tallest Educational - Moscow State University, Russia 240m
Tallest Hospital - Guy's Hospital, UK 143m
Tallest Library - WEB DuBois Library, USA 116m
Tallest Cinema - Cineworld, UK 61.8m

-----------------------------------------------------

Basically, from all recent press releases from Shangri-La, Lopez Group and Federal Land the fight kinda looks more like a battle for the Tallest Mixed Use Building tag. With Century's Gramercy, it seems like it is going for the Tallest Residential Building title.

^^^Scanned the article with rendering from the Phil Star.

http://i136.photobucket.com/albums/q179/asph80/tallest.jpg
Nice glassy podium

very nice , thanks

PBCom is 259 meters :bash:

what i'm happy about is that they are indeed aware of what height to beat. so this will definitely be taller than PBCOM but not necessarily a Supertall. :banana:

Thats a nice rendering. The base kinda looks like Hong Kong's ICC. I also like the complex as a whole: residential towers, commercial space in the podium and mix-use hotel/office tower.

^^ di ba HOK din nag design ng ICC? HOK din architect nito. talk about recycling hehe.

^ I forgot about that. Yes, you are right...so thats why.

The top looks like it's pointed and not flat, or am I just hallucinating? :D

This will surely be a standout in BGC, considering that it's located at northwestern edge of the rising CBD.

i wonder whats the final height of this building.. perhaps 290m? :dunno: :D

i just wish the top is more interesting though. like the IFCs. though the base is very plain, the top makes them look iconic.

The top looks like it's pointed and not flat, or am I just hallucinating? :D


It does look triangular. Kinda like Citigroup Centre:
http://upload.wikimedia.org/wikipedia/commons/1/12/Citigroup_center.jpg

http://i132.photobucket.com/albums/q6/cionicboom/Image713Small.jpg
Try lang:)

Here is a previously posted render in b&w. Top doesn't seem to be pointy at all. Oh well, hope we'll find a clearer colored rendering soon!

This is how the site currently looks like...

12.12.07

http://i20.photobucket.com/albums/b210/ofngol/2008/Photo_121207_012x.jpg

http://i20.photobucket.com/albums/b210/ofngol/2008/Photo_121207_0091x.jpg

http://i20.photobucket.com/albums/b210/ofngol/2008/Photo_121207_015x.jpg

http://i20.photobucket.com/albums/b210/ofngol/2008/Photo_121207_013x.jpg

Scanned the article with rendering from the Phil Star.

http://i136.photobucket.com/albums/q179/asph80/tallest.jpg
Nice glassy podium

^^ The top looks like it's pointed and not flat, or am I just hallucinating? :D

This will surely be a standout in BGC, considering that it's located at northwestern edge of the rising CBD.


^^ OO nga ano. I see it too! There seems to be a haze or cloud formation that kinda like it's covering the top portion of the building which also seems to have been cut-off due to a lack of newspaper space. It looks like there is a faint image behind the haze / cloud formation which gives an impression / indication of more building actually. The shape seems like its tapering off into an angle.

Wow, mukhang meron ngang triangular top ito kasi may iba na ring nakita nung pangitain ng sloping roof! :D

If that's the case, then I'm predicting the probable presence of a spire on the opposite ends of the pointed triangular top, an assurance that it can still be elevated to the "tallest" status just in case the plans for it being the tallest gets challenged by another development.

the bottom part looks like the one their building in hong kong along victoria harbor.. cant remember the name though..

^^ ;)
Thats a nice rendering. The base kinda looks like Hong Kong's ICC. I also like the complex as a whole: residential towers, commercial space in the podium and mix-use hotel/office tower.

^^ di ba HOK din nag design ng ICC? HOK din architect nito. talk about recycling hehe.

how do you paste pictures here? i was about to post the base of icc

the link

My assumption is that the pointed crown is really an extended glass curtain, a little bit like St. Francis...

^^ Actually, it looks like the floors continue.

What's the name of the project?

^^ Unnamed Federal Land Project

What's the name of the project?

^^ Unnamed Federal Land Project

:lol:

:lol: Ilabas na kasi ang official name. Hehe...

Mukha nga me tapering top. Pero kung yun ay extension ng facade like GT Tower, that is yet to be known. After all, this is a cousin of GT Tower, so me mga similarities talaga sila. If the tapering part won't house any liveable floors, then there'd be no need to add up spire to ensure a higher finish than a usual 66 storey tower.

wow sana at least 300m sya

^^ OO nga ano. I see it too! There seems to be a haze or cloud formation that kinda like it's covering the top portion of the building which also seems to have been cut-off due to a lack of newspaper space. It looks like there is a faint image behind the haze / cloud formation which gives an impression / indication of more building actually. The shape seems like its tapering off into an angle.

mukhang ang laki ng bldg parang sa new york

y 66 floor...y not 100 floor

:lol: Ilabas na kasi ang official name. Hehe...



My industry colleagues told me that the project name is ___________ 66.:)

^^ Six 66? :lol:

---

sana mid year, sisimulan na nila mag fence around the area at mag excavate.

My industry colleagues told me that the project name is ___________ 66.:)

Baka Global City 66. Parang Taipei 101?

Metro 66 ?
Federal 66 ?

^^ six 66... haha... :lol:
i bet its federal 66 too, if that's the case..

Probably they want to sound something like Plaza 66 in Shanghai. It's a very high end complex.

balita ko formoso daw local architect nito.. tama ba?

balita ko formoso daw local architect nito.. tama ba?

ay recio+casas pala, sorry

Where did you hear this?

sabi ng friend ko :) i forgot un foreign

^^ HOK yung foreign ;)

BTW, can someone picture the site where the building is gonna be built? Are they already doing the groundwork?

^^ No fence yet. the lot is huge. Thomasian(Aaron) posted some pics a few pages back ;)

We now have a name for the Federal Land tower ---> Iconic Tower. :)

http://www.businessmirror.com.ph/03172008/headlines01.html
Shimao offer on Fort Boni nixed
By Max V. de Leon
BusinessMirror
March 17, 2008

...

Zosa said major developments will be undertaken this year on the adjacent lots of the North Bonifacio property, including the Metrobank at the Iconic Tower that will also house the Grand Hyatt Hotel, major avenues and utility networks, to enhance the area including the North Bonifacio Lots.

...

wow, that's really...iconic :lol:

so Grand Hyatt pala ang hotel nila! great competition for Shangri-la!

i think that name will haunt that building later on in life.....what a name to live up to.....so much pressure already and it's not even off the ground

he he he he....

baka nickname lang iyan, kinda strange to name a building iconic tower!

Hahaha...what a straightforward name. I don't care that much about the name at this point, let's see the render already! :D

Edit: An official, final rendering that is! I know we've seen one in the newspaper, but it's a little vague about it. :D

________________ is the name of this tower, according to colleagues working on this one. :)

What is the point of doing that? Other than to say you know people working on this project and that you know the knew name, you're not really telling us something new. Just say it already. :tongue2:

^^sorry, just can't help it. There's too much speculation going on in here. As much as I would love to end your miseries on not knowing the name of this project, there's such thing as corporate liability. Signing to work on similar (high-profile) projects such as this one involves a confidentiality and non-disclosure agreement (CNDA) between the client and the project team involved, thus you just don't divulge informations especially at this early stage of the project.

We know that, I was just teasing you for basically just bragging that you know the name of the project and/or that you know someone in the know. :tongue2:

Oh well maybe should not have even brought it up in the first place if you can not divulge it naman pala kasi nabitin lang lalo kami eh! Hehehe... :lol: :lol: :lol:

We know that, I was just teasing you for basically just bragging that you know the name of the project and/or that you know someone in the know. :tongue2:

:lol::lol::lol:

^^sorry, just can't help it. There's too much speculation going on in here. As much as I would love to end your miseries on not knowing the name of this project, there's such thing as corporate liability. Signing to work on similar (high-profile) projects such as this one involves a confidentiality and non-disclosure agreement (CNDA) between the client and the project team involved, thus you just don't divulge informations especially at this early stage of the project.

:ohno:Oh well, you were the one who brought this up! If you don't know it, have the courage to say so. Simply put and no offense, you're a legend in your own mind! Just post when it's legally appropriate, please. Thanks and regards!:)

http://www.philstar.com/index.php?Modern%20Living&p=49&type=2&sec=46&aid=2008040436

Rising to the top

By Abby Rebong
Saturday, April 5, 2008

As one of the Philippines’ most successful real estate developers, Federal Land continues to come up with creative and innovative ways to set itself apart from other industry players. With more than 10 projects waiting to be launched this year alone, the company continues to prove its mettle in the real estate industry. We talked to Federal Land executive vice president and general manager Louie Icasiano on all the exciting developments that Federal Land – Metrobank Group’s real estate arm – has in store this 2008 as well as for the next three years.

“The company started in July 1972 when it aimed to meet the residential needs of the Filipino-Chinese community in Binondo. Back then the company was known as Federal Homes and its first slew of projects included Soler Tower and Tytana Plaza, Manila’s tallest and biggest residential building at that time,” says Icasiano when asked about the promising start of Federal Land in the real estate industry. He adds that after three decades of success in developing land, the company started building self-sustained communities – now outside the Binondo area, from Roxas Boulevard to Makati, even in Marikina. “The company has experienced steady growth in its 35 years in the industry. In fact, it also currently has one of the largest landholdings, particularly in Metro Manila.

The GT Tower International, Oriental Garden Makati, Metropolitan Park, (that houses Le Pavillon and Bay Garden), Bayview International Tower, Valencia Hills, Skyland Plaza, and Ocean Tower – to name a few – all stand as testimonies to Federal Land’s unrelenting commitment to building structures and communities that contribute to the overall progress of society.”

Continuously Evolving

Setting its sights on bringing more quality projects to its customers, Federal Land has been consistent in coming up with products that prove to be tailor-fitted to its customers’ needs and demands. Take, for example, Federal Land’s venture into retail with the introduction of the popular Blue Wave commercial complex in Metropolitan Park – located in the Bay Area. This popular hangout in Manila actually has a Marikina spin-off thanks to Federal Land’s incredible foresight that Marikina will prove to be a great market for the company’s products. Another example would be the Marquinton Residences – the first-ever condominium project in Marikina City. “When Marquinton started by focusing on the middle market, though it took a while for us to convince the local residents about the new concept, the Marquinton units are now selling fast. Marikina locals were used to buying the usual house-and-lot products but now, thanks to this pioneering effort of Federal Land, they’re now keen on living in condominiums,” says Icasiano. He adds that aside from Marquinton being the first-ever condominium in Marikina, Federal Land is also proud of this project because it has garnered the company the prestigious Developer of the Year award from the Chamber of Real Estate Builders Association (CREBA).

Another Federal Land first

Considering that things are certainly looking up for the company, Icasiano shares one of the most exciting Federal Land projects to date, a hotel mixed with grade-A offices, retail, and high-end residential spaces that will be put up in the northern part of Fort Bonifacio in the City of Taguig. The project will be started within the first half of this year and is scheduled to be completed in five years.

“For the hotel and office tower, the hotel will sit on top of the office space with separate lobbies for the entrances. It will be the first of its kind here, a 66-story tower with a world-class hotel at the top. Meanwhile, the residential tower will be above the high-end retail complex at the podium level,” shares Icasiano. He foresees that this project will definitely add prestige to the City of Taguig as the latest premier business destination in the country.

Reaching out to more customers

Of course, with its continuous expansion in the real estate business, Federal Land has started to tap more possible buyers for its products. The company has put up an office in the U.S. – California, as well as two offices in Italy – Rome and Milan, to be able to tap one of the local real estate industry’s biggest market, the moneyed Filipinos abroad. “Our goal here is to reach the overseas Filipino market – we’re targeting people who want to retire in the Philippines, which most of them would love to do. Most of them have bought from our Makati, Quezon City and Marikina projects,” shares Icasiano. Of course, not to be missed is the high potential of the “foreign market” – not just made up of Japanese, British, and American nationals anymore, Federal Land has also started selling to the local Korean market as well as the Singaporean market. The company has even recently partnered with Orix Corporation – a top real estate company in Japan – for the Grand Midori Makati on Legaspi Street. He says that while Federal Land can definitely hold its own when it comes to delivery and expertise in producing innovative, quality products, this recent joint venture has generated synergy for both companies. Icasiano adds, “It’s really all about what the Japanese can contribute in terms of technology and I admire the fact that they’re also very meticulous in terms of quality. I think that’s what Federal Land has gained from this venture.” The Grand Midori Makati was launched last December and the 35-story twin towers have generated the market’s keen interest.

Bigger and better for 2008

Icasiano is proud to share that 2007 has been a record-breaking year for Federal Land with the highest monthly sales, highest quarterly sales, and of course, the highest annual sales volume.

However, with such robust growth in the past year, surpassing it will be quite a challenge for the company this 2008. He elaborates, “For 2008, we’ll be launching more than 10 projects, we’ve already launched four so far. The challenge here is to launch our projects on schedule and double our performance for 2008.” When asked if the recent recession in the U.S. has had any effect on the company’s overseas selling operations, Icasiano is proud to say that Federal Land had the foresight to really look into the high value and quality of its accounts, resulting in Federal Land not being affected by it at all.

Not just a home, but also an investment

But what exactly sets Federal Land projects apart from the other real estate industry players? Icasiano says that aside from always delivering on time and even ahead of schedule, each and every Federal Land project is ensured to be of topnotch quality, making it a sound investment.

“When you buy a property from us, we make sure that we continue to add value to it, and when I say that we add value, the property is continuously managed and maintained even after it’s completed, delivered, and occupied. Aside from buying a home, you also get a good investment,” explains Icasiano.

It’s also a big help that Federal Land is able to come up with payment schemes that are easy on the pocket, so that more people will be able to afford their own piece of quality Federal Land communities.

As for the secret behind Federal Land’s success, Icasiano laughs and says that there really is no big secret, “We only make sure that the products are delivered as promised while maintaining high standards of quality.” However, what he’s really most proud about Federal Land is its people, he shares, “You can see people who have spent 10, 15 or 25 years in this company, their competence and attitude are really great, and the owners are not just very supportive of each project that we venture into but they are willing to go into details whenever necessary. This kind of management style, I believe, has rubbed off on all the employees.” This clearly makes everyone in Federal Land very much committed to upholding the company’s vision of becoming the leading developer of communities that provides an improved lifestyle for Filipinos today and tomorrow.

^^sorry, just can't help it. There's too much speculation going on in here. As much as I would love to end your miseries on not knowing the name of this project, there's such thing as corporate liability. Signing to work on similar (high-profile) projects such as this one involves a confidentiality and non-disclosure agreement (CNDA) between the client and the project team involved, thus you just don't divulge informations especially at this early stage of the project.

hahaha, nayari ka ng mga threaders no? spill it out dude, let's see how tough you are.

As for the height, try asking ATO for the height clearance for the taguig area. Usually in reference with the sea level yun, kaya let's say 259m yung PBCom tower, clarify lang kung sa sea level naka-refer. The level of the ground (makati or taguig) from the sea level needs to be subtracted.

http://i136.photobucket.com/albums/q179/asph80/tallest.jpg
Nice glassy podium

http://i16.photobucket.com/albums/b8/ishtefh/3157_1439_hr.jpg
^^ It would be great if the Iconic Tower will look similar to this! Is there no updated render available yet?

...

I almost got a heart attack thinking that was the render. But I recognized it looked almost exactly like the ICC, then I read your message.

Exciting nga because there is a lot of movement in North Boni. Matbe they will build the tower na. May divisions na on the lot unlike before na puro grass lang.

Exciting talaga.

Puro hotels and offices na yung developments sa BGC.

^^ Very exciting times indeed for BGC which continues to boom with construction. I agree it's good to see the balance/ratio is now getting better with more and more office buildings and hotels in the pipeline to complement the residential structures in the area. Should be another BGC milestone come 2010. :)

well I hope metrobank does not chicken out as i've heard, their bankers and thus conservative by nature

hahaha, nayari ka ng mga threaders no? spill it out dude, let's see how tough you are.

As for the height, try asking ATO for the height clearance for the taguig area. Usually in reference with the sea level yun, kaya let's say 259m yung PBCom tower, clarify lang kung sa sea level naka-refer. The level of the ground (makati or taguig) from the sea level needs to be subtracted.

brodiemeister, do you have any colleagues still working on this?:)

federal land is just another developer who wants to cash in as fast as possible. without its funding affiliate, metrobank, it will not venture out on its own into this dream project of superlative magnanimity. it aimed to be in #2 position in 2002 and imho an ayala land wanna-be. :ohno:

its internal organization lacks the talent and aesthetic sense to do projects on a world-class standard. gt tower is just a prismatic building form not exceptional imo, and full of structural defects inside which took more than one year to rectify. in fact its curatin walls are anchored on non-plumbed end slabs. this proves to show the ineptitude of federal land's internal technical complement. :bash:

hehe me mas malupit pa na critics dito , di pa natayo dami nang reklamo

mr. pinoy arki, why would you consider those design problems reflective of federal, did they do the design? I would have thought they had all the A&E jobbed out.

hehe me mas malupit pa na critics dito , di pa natayo dami nang reklamo

mr. pinoy arki, why would you consider those design problems reflective of federal, did they do the design? I would have thought they had all the A&E jobbed out.

they are used to their old binondo style condos when it comes to design particularly planning of the typical condo bldg envelopes. they just adopt the "plan" and compress/strecth it to suit the lot available. they have their own in-house design group then farmed out to consultants at fees way below standards..of course you know why. all a&e designers and project management consultants/ works engineers are paid that way so the technical resultant complements are fresh grads, lacking in experience or under-skilled low-paid staff.:ohno:

yikes. this is true to all FEDRALAND projects?

^ BGC I think only allows aesthetically pleasing structures to rise in their city.

^ BGC I think only allows aesthetically pleasing structures to rise in their city.

But 'aesthetically pleasing structures' does not always translate to a technically superior structure.

I'm actually not sure if the metrobank portion and bcda lots are covered by the FBDC covenants. BGC doesn't really count them as part of bgc.

I'm actually not sure if the metrobank portion and bcda lots are covered by the FBDC covenants. BGC doesn't really count them as part of bgc.

^^metrobank consolidated its dispersed acquired assets through negotiations with fbdc to come up with a contiguous land mass. even offered to re-align some roads at no cost to fbdc.^^

The people involved are keeping a tight lid on this project. Im wondering whats the status currently of the supposedly one of the tallest building in our country. :)

The people involved are keeping a tight lid on this project. Im wondering whats the status currently of the supposedly one of the tallest building in our country. :)

^^they are still waiting for the final height announcements of the other building height challengers as gramercy tower, one lopez tower, etc. although some share the local structural designers, there is now an nda (non-disclosure agreement) between owners and designers. remember the metrobank group is loaded and they can afford a supertall skyscraper even exceeding 350 meters in height.

Why not just go for 350m+ then? It's odd that they're playing the waiting game when they can gun for the tallest title by going for 350m or more. I doubt Gramercy Residences will reach that height, nor the Lopez Tower now that they're cutting 10 floors from the original plan of 65 floors.

^^they are still waiting for the final height announcements of the other building height challengers as gramercy tower, one lopez tower, etc. although some share the local structural designers, there is now an nda (non-disclosure agreement) between owners and designers. remember the metrobank group is loaded and they can afford a supertall skyscraper even exceeding 350 meters in height.

spill the beans @pinoy_arkitek. :) :banana: height records are made to be broken anyways. I believe whoever builds the tallest will have bragging rights for a decade at the most or even less if our economy continue to improve. :)

Honestly I'd prefer to see a real cutting edge iconic looking building more so than a tall but ordinary looking one. Even better of course if this Iconic Tower project succeeds in doing both! Hopefully the increasing cost of materials and shaky economy will not make Metrobank downspec and value engineer this supposed iconic project.

I think I have mentioned this before, that there is height restriction for structures to be built in Metro Manila. The restriction is based on ATO (Air Transportation Office) requirements for air traffic. Thus no buildings within the vicinity of MIA and NAIA air traffic ways are allowed to exceed this limit which is roughly around 300m only. The 350m barrier could have been easily surpassed sometime ago if not for this ATO requirement. Unless you move the airports....

I think I have mentioned this before, that there is height restriction for structures to be built in Metro Manila. The restriction is based on ATO (Air Transportation Office) requirements for air traffic. Thus no buildings within the vicinity of MIA and NAIA air traffic ways are allowed to exceed this limit which is roughly around 300m only. The 350m barrier could have been easily surpassed sometime ago if not for this ATO requirement. Unless you move the airports....


^^....or bribe your way around the tenets set by government which are always meant to be flexible to variances.:lol:

Mmm... Why is it that the BCDA has always maintained that Bonifacio Global City is not in the flight path/route of any airlines? It is not even in the airplane noise range daw. It's actually McKinley Hill that is but BGC no. Is there a wider flight buffer zone/variance which actually includes the BGC area per ATO air traffic rules/requirements or is the BCDA not telling the truth then? Just wondering...

^^....or bribe your way around the tenets set by government which are always meant to be flexible to variances.:lol:

Actually, this ATO height requirement for specific areas within Metro Manila (as also with all sites with nearby airports) is inflexible ( international aviation practice)and no way to get around with it as long as there's NAIA and MIA on it's current location.

I have seen several high-rise projects in Metro Manila in their early design stage got their several floors removed just to satisfy the air traffic requirements ( I was even involved in one of them in their early stage ).:)

^^....or bribe your way around the tenets set by government which are always meant to be flexible to variances.:lol:

Bribe talaga, e. Hehe.

I think FederaLand only only wants to be really known in the real-estate realm the fast way. Well, their technicalities will, perhaps, improve as projects go by. You know, they're learning... Alas, we cannot compare them to the veteran Ayala Lands.

Actually, this ATO height requirement for specific areas within Metro Manila (as also with all sites with nearby airports) is inflexible ( international aviation practice)and no way to get around with it as long as there's NAIA and MIA on it's current location.

I have seen several high-rise projects in Metro Manila in their early design stage got their several floors removed just to satisfy the air traffic requirements ( I was even involved in one of them in their early stage ).:)

ATO is very serious in implementing this restriction. Sugarland Hotel in BCD removed its uppermost floor to comply. My hometown's local government up north did not comply with the MOA signed with ATO to remove/demolish high structures near the runway. PAL pulled out its operation when I was still in HS. Hanggang ngayon di pa binabalik because of these stubborn businessmen who can think of nothing but their personal gains. :ohno:

this project is now officially called LANDMARK 66 PROJECT. reliable source from prime design consultant. the old buddy aromin is the structural engineer not ASAI (aromin + sy associates, inc.). seems the ol' george sk ty is more comfortable with his contemporary designer.:)

this project is now officially called LANDMARK 66 PROJECT.


does this mean it will have 66 floors? :banana:

does this mean it will have 66 floors? :banana:

Perhaps 66 floors excluding podium, commercial spaces, and parking. So hopefully taller. Hehe! :banana:

ATO, tabi ka muna please. :lol:

The mods here should change the thread title then :)

^^ They'll probably wait for the news first :D

Landmark 66! Ok lang para hindi confused with Icon Projects of Xcell. Mods?

may rendering na ba ng landmark66?

"Iconic Tower / Landmark 66" na lang muna para sigurado. :D O diba, Iconic na, Landmark pa! San ka pa! :lol:

^^ It would be great if the Iconic Tower will look similar to this! Is there no updated render available yet?

san etong tower na eto at lugar Huge ahh

i think they are patterning the naming of this project to an existing mixed used devt in shanghai which is plaza 66 in nanjing xi lu

may rendering na ba ng landmark66?

^^ Here is an early render of the Iconic/Landmark66 Tower.


http://i136.photobucket.com/albums/q179/asph80/tallest.jpg
Nice glassy podium


And here's a little bit more info on the project.

http://www.philstar.com/index.php?Modern%20Living&p=49&type=2&sec=46&aid=2008040436


Another Federal Land first

Considering that things are certainly looking up for the company, Icasiano shares one of the most exciting Federal Land projects to date, a hotel mixed with grade-A offices, retail, and high-end residential spaces that will be put up in the northern part of Fort Bonifacio in the City of Taguig. The project will be started within the first half of this year and is scheduled to be completed in five years.

“For the hotel and office tower, the hotel will sit on top of the office space with separate lobbies for the entrances. It will be the first of its kind here, a 66-story tower with a world-class hotel at the top. Meanwhile, the residential tower will be above the high-end retail complex at the podium level,” shares Icasiano. He foresees that this project will definitely add prestige to the City of Taguig as the latest premier business destination in the country.

this project is now officially called LANDMARK 66 PROJECT. reliable source from prime design consultant. the old buddy aromin is the structural engineer not ASAI (aromin + sy associates, inc.). seems the ol' george sk ty is more comfortable with his contemporary designer.:)

I think you should check with your sources again, I guess he isn't reliable at all, buddy aromin is not designing the taller tower. I can assure you of that. peace!

I think you should check with your sources again, I guess he isn't reliable at all, buddy aromin is not designing the taller tower. I can assure you of that. peace!

^^he he he...

I thought Buddy Aromin already retired?:ohno:

brodiemeister, how's this project going? :) how's HK? :)

landmark 66 is a bad-ass name.. it exudes a stronger image than iconic tower, which is overtly corny.. landmark 66 - i like it.

^^ Agreed. I hope it will have an observation deck and a restaurant at the top. It would be a very nice place for a romantic dinner and date. :D

landmark 66 is a bad-ass name.. it exudes a stronger image than iconic tower, which is overtly corny.. landmark 66 - i like it.

add 3 more into it and it won't be corny, it'll be horny :lol:

by the way PBCom is 259 meters tall. The spire is still part of the structure....

ATTN: IT IS NOT "LANDMARK 66".

It's Project 66.

'Kahilo naman ito, yung tatlong pangalan na lang ang ilagagay ko. :D

And correct me if I'm wrong, I changed the location from plain BGC, to "North Bonifacio, Fort Bonifacio, Taguig". Because I believe that the name BGC-Bonifacio Global City is only for the Ayala+Campos and FBDC controlled area, so it would be wrong to place it under BGC because this area is a JV between Federal Land and FBDC.

^^ Tatlo tatlo ang pangalan. Seems to be a very Iconic Landmark Project.

Actually, I heard it's going to be called Six 66. Confirmed by my trusty sources.

(JK! :D)

I think the name is not settled yet, final design has not been frozen.

From what i understand this is an hok/arup project DAW!

Many many projects at this stage are in a flux because of prices, no one whether local or around the world can guarantee prices specially of the key commodities e.g. steel. Many contracts now have crazy clauses ++ on material prices which makes owners nervous. In a project this big , this will surely take several years to finish and it's possible that material prices (primarily steel) can actually go up 100% (no one seems to know where it will stop, iron ore prices are still rising) that's why these guys are treading very carefully.

^^ Didn't HOK do the North Bonifacio masterplan as well? It would make sense if Landmark 66 was one of their projects.

I think the name is not settled yet, final design has not been frozen.

From what i understand this is an hok/arup project DAW!

Many many projects at this stage are in a flux because of prices, no one whether local or around the world can guarantee prices specially of the key commodities e.g. steel. Many contracts now have crazy clauses ++ on material prices which makes owners nervous. In a project this big , this will surely take several years to finish and it's possible that material prices (primarily steel) can actually go up 100% (no one seems to know where it will stop, iron ore prices are still rising) that's why these guys are treading very carefully.

^^ I just hope that it lives up to its proposed name of being Iconic.

Err a little contribution lang but steel prices has already risen past 100% in the last 8mons. For ex a box of nails used to cost 750pesos but now cost 1480 per box. And sadder news is supply is limited. Its a world wide phenomenon. There is raw material crisis in almost everything from steel, to plastic and a lot of things in between. And then there is the food crisis and in a way financial crisis and dont forget fuel crisis.

RP’s tallest building to rise in Taguig City's Fort Bonifacio
Jun 20, 2008
http://www.taguig.gov.ph/news.php?ID=83


The Philippines’ tallest building will rise in Taguig, says Mayor Freddie Tiñga.

Federal Land Inc. will construct the mixed-use edifice which will also house a fully furnished five-star hotel, on a 27-hectare lot in the North Bonifacio district later this year.

The building will feature 500 rooms with high-luxury hotel facilities, as well as residential and commercial units.

“Taguig is fast becoming an ideal tourism destination in Metro Manila,” enthuses Tiñga.

Federal Land Inc., the property unit of George SK Ty’s Metrobank group of companies, is to spend at least P20 billion for the complex.

Metrobank owns the 10.6 hectares where 66-story building will be located.

The remaining 16 hectares belong to the state-owned Bases Conversion and Development Authority (BCDA).

The top 25 floors will be occupied by the Grand Hyatt Hotel with 500 to 600 rooms.

“Choosing Taguig was an easy decision to make, especially with its rapidly growing developments as a result of forward-looking urban planning schemes,” company President Alfed V. Ty said in a statement.

“The completion of the country’s tallest building at the Fort will complement our efforts in promoting Taguig as a ‘total package’ city and will certainly put us in the tourism map of the Philippines,” says Tiñga.

“The Federal Land tower will open up more doors for Taguig, which has now become a key investment city in Metro Manila.

But more than the opportunities that it offers our city, we believe this will eventually benefit our country’s econom,” Tiñga says.

The Philippine Stock Exchange plans to transfer a unified bourse to a modern headquarters office on a 5,000-square-meter lot also in Fort Bonifacio.

Singapore, Korea and the United Kingdom will open embassies at Fort Bonifacio.

“This is exactly what we have envisioned for Taguig, particularly here in Fort Bonifacio – a place where people can live, work and enjoy in one community.


http://i136.photobucket.com/albums/q179/asph80/tallest.jpg

Woo! Can't wait for this landmark tower. I'm glad they're still keen on building this later this year. I was getting worried this would be cancelled or delayed. Along with the PSE Office Tower and the Shang Hotel/Residences, Taguig/BGC is truly becoming the next major CBD. Having the title of "Philippine's Tallest Building" will surely attract more investors to the CBD. It will mark Taguig on the map.

nakita ko sa magazine kahapon rendering nila! gorgeous!!! sana may mag scan ng BizNewsAsia yata yun hehehe yung about Taguig ang cover.

coke scan mo na! slant ba talaga yung top like NY's Citicorp?

Yes, please. Someone scan it ASAP.:)

nakita ko sa magazine kahapon rendering nila! gorgeous!!! sana may mag scan ng BizNewsAsia yata yun hehehe yung about Taguig ang cover.

saw this one too thru private reading at nbs.. :colgate:
the rendering is same as this one as found on http://www.taguig.gov.ph/news.php?ID=83, but the magazine has a bigger pic.

http://www.taguig.gov.ph/archive/images/ft15.jpg

mea culpa wrong thread

anyway hopefully they release the render soon

Taguig: The Best City for Business
Jun 20, 2008
http://www.taguig.gov.ph/news.php?ID=82

Founded on April 25, 1587, Taguig is one of the country's oldest enclaves. For 400 years, it was a struggling poor man's pueblo. For 100 years. it was nothing more than a proud but indifferent military fortification, first as Fort McKinley and later as Fort Bonifacio since the Great Plebeian's father, Santiago, was born in the town. In the last ten years, the city has undergone a massive transformation.

Today, the village founded originally by some 800 rice threshers in the 16th Century is on the verge of becoming the Philippines' most modern city during the 21st century.

The catalyst for that change came in 1996 with the sale of 150 hectares of prime Fort Bonifacio army reservation.

Proceeds, totaling a whopping P30.4 billion, were realized when chunks of the property were sold at an unheard of P333,283.88 per square meter. It became the Deal of the Century. But the winning bidder, First Pacific, went into rough financial waters, lost 0 million in development cost and was forced to give up Fort Bonifacio.

The giant Ayala Corp., runner-up in the 1996 bidding, bought 54 hectares of fully developed business land for a paltry million. Ayala went on to re-master plan Fort Bonifacio in joint venture with the state Bases Conversion Development Authority.

The result so far has been a sterling development with few of the mistakes made by the Ayala family in developing the 1,000 hectares of Makati into a bustling residential and commercial district. For one thing, there are infinitely more open spaces, through the number of trees (very few), the adequacy of road signs (on a clear day, you will get lost), and the width of the roads (traffic easily builds up) still leave much to be desired.

Still, the World Bank has decreed Taguig the Philippines' most competitive city for doing business, besting 20 other local cities and some of the 178 countries covered in the study. The study was in cooperation with the AIM Management Policy Center and the IFC.

In the WB study, Taguig emerged No. 1 in ease of starting a business. A businessman needs to take only 15 steps, spend 27 days, and 6.9% of his minimum paid-up capital to be open for business. In Davao, you must undergo 23 procedures in 42 days. In Valenzuela, west of Manila, you take 22 steps and 37days. In Manila, it is 15 steps and 52 days.

For construction, it is also easiest in Taguig - 23 steps and 121 days (four months). Compare that with Pasig's 33 procedures and 173 days (almost six months). One major cause of delay is getting an electricity connection - three months in Metro Manila and only five days in Tanauan. Talk about Meralco red tape.

Credit for the revolution in Taguig goes clearly to its mayor. Sigfrido Rodriguez Tiñga, 43. Elected in 2001 by defeating the opponent who had defeated his father Dante Tiñga (now a justice of the Supreme Court) in 1998, Freddie brought to city hall rich expertise and experience in business.

He has a business economic degree from UP (1986) and an MBA from the Univeristy of Oregon (1991). He had worked with SGV (1986-1988) and Citibank (1991-1992) and the First Pacific Fort Bonifacio Development Corp. (1995-1999), rising to the rank of vice president. Then he co-founded and became group managing director of K-2 Interactive, a regional consulting and business solutions and digital design provider. He sold 10% of this company for million.

The first thing Mayor Tiñga did, he relates "is change the mindset of the people." The local government had this "tomorrow habit".

"We were not consumer service-oriented", he recalls. "So I had to tell the people. This is a very competitive world. If we don't improve, we become irrelevant, we will be left behind. We have to do what it takes."

That meant bringing down the cost of doing business in Taguig. "We lowered taxes," Tiñga says. For banks and financial institutions, since two years ago, the tax became just 8% of 1% of top line revenue, less than a third of Makati's 30% of 1%. For manufacturers, the tax is 39% of 1% of sales below P20 million and 25% of 1% of sales above P20 million.

In dealing with city hall, the mayor minimized if not eliminated human interaction. Taxpayers can inquire online. Businessmen can get business and building permit forms online. Tiñga also set up satellite offices so people need not to go to the Taguig City Hall, which is quite a distance and the road is narrow (two lanes) and there is very little parking space. The satellite offices are the Food Terminal, Inc. and at Market! Market! A new city hall will be erected at Fort Bonifacio, 5 kms from the present one.

"As we go online by 2009, we minimize opportunities for graft," points out Tiñga. By end of the year, "we should have wireless broadband for the entire city," he vows. "We will be the first city in the Philippines to go wifi, free at the 56k band."

That won't be a small feat. Taguig is a city of 4,560 hectares, bounded on the west by the cities of Makati and Parañaque, on the east by 7 kms of shoreline of Laguna de Bay, north by Pasig City and Pateros, and south by Muntinlupa City.

Tiñga has adopted three development themes for Taguig - 1. Improve delivery of basic services, 2. More economic opportunities, and 3. People participation.

Basic services is the main business of government. They include education, health, peace and order and public housing.

Theme No. 2 simply means any development must redound to economic benefit of the people. "Any program or project we undertake must benefit the people," explains Tiñga. "If we build a road and it goes nowhere and nobody gets a job, it's a pointless project." "We have to test whether the project or the program actually delivers this benefit."

"For example, you cannot drive away vendors from the sidewalks without providing alternative economic opportunity," notes the mayor. "So we build kiosks for them at places where the vendors should be. That way, you instill discipline."

On the other hand, "if people don't participate in the program, no matter how good it is, it won't succeed."

An example of how business can cooperate with the city government is Tiñga's city card program. The holder of a CityCard is entitled to benefits dispensed by the city government such as health insurance, free access to annual physical checkup at the Taguig-Pateros District Hospital, free funeral service, and discounts for transport fares, medicine purchases, and groceries.

Most important, the CityCard is an employment card. Business firms are encouraged to hire Taguig workers. If they employ outsiders, they must pay P700 per worker per year for the CityCard, which is renewed annually. It is like a foreign worker levy as they do in Singapore,” explains Tiñga. The message to companies is “hire residents of Taguig. And we are doing this because we don’t want to raise taxes.”

This is the application of Theme 3 – participation. The mayor has discarded the previous 70-30 ratio – 70% local and 30% non-Taguig for employment. The CityCard scheme is also a way of controlling in migration. “If you hire 1,000 construction workers who are not from Taguig, tomorrow they are squatters,” explains the mayor.

Indeed, the city already has 30,000 squatter families, 50% more than the number when Tiñga came into office in 2001.

Taguig is probably the Philippines’ fastest-growing city in terms of population gain. In 2000, the population was around 467,000. Today it’s more than 613,000. That’s a 4.46% annual growth – a rate twice the national average.

Mayor Tiñga seems to be populist at heart. He wants to deliver womb-to-tomb services, including a new state-of-the-art 110-bed four-story district hospital, courtesy of St. Luke’s, a new city university, a Taguig Science High School, and mass housing for the poor. Students are provided free notebooks and bags. A-5 ha. city cemetery will be built next to the upscale Heritage Park. Aside from mass housing for the poor, the city’s teachers, firemen, policemen and other professionals will have their housing too.

Government service has been professionalized, income-generating offices have been computerized, and the city hall has been renovated to ensure effective delivery of services.

With efficient tax collection and despite lowered business tax rates, the city government last year surpassed the historic P2-billion revenue mark.

Perhaps, the most notable development is the emergence of Fort Bonifacio as the country’s next business district. Who would have thought that this once idle military camp is now the seat of progress in Taguig?

In the past six years, business has boomed in Fort Bonifacio as various institutions and commercial establishments started moving in to the district such as the Fort Strip, Market! Market!, Serendra, and the Bonifacio High Street.

Fort Bonifacio has also hosted memorable international events such as the concert tours of singing sensations Mariah Carey, Christina Aguilera, and Beyonce Knowles, and Manny Pacquiao’s boxing fight demolition of Thai boxer Fahsan.

As investments pour in, commercial and residential buildings continue to rise in Fort Bonifacio. In fact, the skyline in the district dramatically changes every year, indicating rapid growth and development.

Tiñga is looking forward to making Taguig the country’s first Wifi-enabled city through the Wi-max technology. This project, targeted to be operational by next year, seeks to provide Taguig residents with affordable and efficient voice and data communications via wireless connectivity. Wireless networks will be installed in key areas that will be connected to each home in the city for easy communication access.

In addition to the wireless networks, close circuit televisions (CCTVs) will also be installed on major intersections of Taguig to enable 24-hour monitoring of these areas.

Taguig is likewise working to make city government services available online through the Integrated System Information Software (ISIS). This system will link business establishments directly to the city government, putting together and making available online all government-related transactions.

Meanwhile, in Fort Bonifacio, three foreign embassies – Singapore, British, and Korean – have already scheduled their transfer to the new business district, while the Philippine Stock Exchange will move its unified operations by 2010.

Taguig is also poised to become a top tourism destination with the construction of five luxury hotels with combined 3,000 rooms in Fort Bonifacio. In the next three years, expect Grand Hyatt, soon to be the tallest building in the country, to rise at the center of the district with its 66-story structure that will feature five-star hotel facilities and residential and commercial units.

Other hotel facilities that are confirmed to rise in Fort Bonifacio are Sofitel Pullman, Discovery Suites, Ascott Hotel, and Shangri-La, which will be 63 stories high. A Korean group and even the city government have plans for four-star hotels.

A Civic Center will also be built patterned after development centers in Hong Kong, Singapore and the United States. This mixed-use complex, targeted to be fully operational in the next years, will house hotel facilities, convention centers, and even retail establishments.

Perhaps, the most ambitious Tiñga vision is an international airport in Taguig’s 7-km lakeshore. “It is very near Makati,” he says, “and it can accommodate two runways, not like the present NAIA.

Tiñga has boosted revenue collection. In 2006, the city hit more than P1-billion revenue mark, up from P500 million in the years before 2001.

The higher tax take is the result of an improved and professionalized quality of government service, an intensified campaign, and the opening of four satellites to decentralize delivery of basic services.

Tiñga has successfully placed over 31,093 jobseekers for employment in both local and overseas companies.

More than 740 infrastructure projects have been completed, from upgrading of and building of road networks and bridges for accessibility and mobility; pathways, school buildings, day care centers, basketball courts and multi-purpose halls, playgrounds, drainage systems, rip-rapping of creeks and installation of water supplies.

Mayor Tiñga issued 13,000 health insurance cards for indigent families. Sentro Kalinga is a Mother and Child Care Center, to intensify the campaign to reduce malnutrition and propagate health programs.

Meanwhile, mobile and foot patrol law enforcers are deployed with a 24-hour anti-crime hotline.

Mayor Tiñga has instilled civic duty among Taguig’s and fostered eamwork and foster unity and pride in Taguig. He has also worked out a modus Vivendi with the Cayetano clan led by Senators Pia and Alan Peter Cayetano.

“Forward Taguig” and “Lahat panalo kapag sama-sama tayo” are but two of the slogans that have fired up Tiñga and the rest of the people of his city.

For the long pull, Tiñga hopes to make Taguig truly a global city. “We are going there,” he says confidently.

reminds me of L-tower

slant talaga at pag titigan mo ng mabuti, parang GT Tower lang yung crown. it's just an architectural feature.

I hope it's not just an extended facade like in GT Tower. I hope the top floors of that building taper off to an observation deck or restaurant

with the upper floors occupied by hyatt, it is a possibility. and i hope it breaks the 300m barrier or at least reach it.

I hope it's not just an extended facade like in GT Tower. I hope the top floors of that building taper off to an observation deck or restaurant

based the rendering na nakita ko sa magazine, looks like extension lang ng facade.

that's most likely though i hope it's not. the top floor, if flat can still accomodate roofdeck amenities, plus a helipad.

ei po.. request oh.. kindly scan those pics from the newspaper so that we can stop imagining how it looked heheheh.. sorry demanding.. :D can't find an article in the web kasi...

^^ hahaha, napadaan lang ako sa nat'l bookstore nun :D

ok, let me 'try' to find copy of that. if someone else can do it asap, then we'd appreciate the efforts. :)

Hyatt expands Philippines portfolio

Ollie Quiniquini, Manila (2008-06-16)

HYATT Hotels and Resorts is vying for the management contract of a hotel being built by Federal Land, Metrobank Group's property arm, at the Bonifacio Global City (The Fort) in Metro Manila.

If signed, the 15-billion-peso (US$340 million) hotel, opening in 2011, will be branded a Grand Hyatt.

Part of a mixed-use 25-hectare development, the 350-room hotel will occupy the top 20 floors of a 66-storey hotel and office building. The development will also have a residential component.

According to Hyatt Hotel and Casino Manila general manager, Mr Gottfried Bogensperger, Hyatt also intends to introduce the Hyatt Regency brand in Boracay through an all-villa property to be completed by 2011. Details of the project are not available at press time.

Mr Bogensperger said it was highly unlikely that the Park Hyatt brand would be introduced in the Philippines, as the market was not yet ready for such a brand that commands rates of US$300 to US$400.

@islandSon.ph, please add a link naman next time. thank you! :D

HYATT Hotels and Resorts is vying for the management contract of a hotel being built by Federal Land, Metrobank Group's property arm, at the Bonifacio Global City (The Fort) in Metro Manila.

If signed, the 15-billion-peso (US$340 million) hotel, opening in 2011, will be branded a Grand Hyatt.

Am I reading it correctly - being built?? Now, is it really? :D

sana nga simulan na to! if directly proportional height nito to Lopez Centre's, this could stand at 325 meters! :banana:

I remember this costing P20 billion before? Now it seems the budget is getting cut back by 25%

Maybe it was quoted 20 billion psesos when the exchange rate was $1-Php56.

Nope it was only earlier this year or late last year when the Peso was at P40:$1

^^ correct. The project cost is USD340M x P45 = P15.3 B. They projected it at USD340M x P56 = P19B+.

@islandSon.ph, please add a link naman next time. thank you! :D



Am I reading it correctly - being built?? Now, is it really? :D

sana nga simulan na to! if directly proportional height nito to Lopez Centre's, this could stand at 325 meters! :banana:

here's the link:cheers: http://www.ttgtravelhub.net/index.php?option=content&task=view&id=10963&Itemid=

Federal Land to kickstart Fort Bonifacio project in Q4


By Elizabeth Sanchez-Lacson
Philippine Daily Inquirer
First Posted 23:29:00 07/27/2008

Close this MANILA, Philippines--Federal Land Inc., the property arm of tycoon George Ty, is embarking on a massive mixed-use development on its property in Fort Bonifacio in Taguig City as it makes a bold investment ahead of an expected correction in the real estate sector.

Federal Land president Alfred Ty said they were looking at launching the initial phase covering 1.5 hectares of a 27-hectare mixed-use development in Fort Bonifacio in the fourth quarter.

The initial phase will include a more than 60-story, five-star hotel with 400 rooms that is touted to be the tallest in the country. The hotel building with office spaces will rise on the 27-hectare complex owned jointly by Metropolitan Bank and Trust Co. (10.4 hectares) and the state-owned Bases Conversion and Development Authority (16 hectares).

"There will be a correction [in the property segment] coming from the crisis period in 1997 we've seen how it is. The market is always there. It's just a matter of coming up with the right product," Ty said.

The rest of the 27 hectares will feature a retail strip similar to Singapore's Orchard Road, and more office and residential developments.

A showroom for luxury car Lexus will also rise within the complex by the first quarter of 2009, touted as the first in the country that will showcase the full line-up of the luxury automobile maker.

Separately, Federal Land has also teamed up with Japan-based multinational firm Orix Corp. for The Grand Midori Makati, a P4-billion, high-end 2-tower condominium project along Legazpi St.

The Grand Midori will feature 622 units upon completion, with each tower standing 38 storiess tall. The first tower will start construction next year and may likely by completed by 2012.

Units cost between P3.4 million and P16 million and range between 39 and 130 square meters.

Yes! New updates are always good. Glad to hear more news about this. I hope they stick to the plan of 66 floors and the name of Landmark 66.

There's a similarity between Grand Hyatt and Shangrila at the Fort.

1. Both will be bounded by a retail strip.
2. Both have hotel and residential components.
3. Both have 60+floors.
4. Both utilizes 1.5 hectares of land.

Really exciting news for BGC and the tourism industry.

There's a similarity between Grand Hyatt and Shangrila at the Fort.

1. Both will be bounded by a retail strip.
2. Both have hotel and residential components.
3. Both have 60+floors.
4. Both utilizes 1.5 hectares of land.

Really exciting news for BGC and the tourism industry.

^ But only Grand Hyatt will have offices.

:cheers: Can't wait for this...exciting news indeed.

and the residential components are separate buildings based on the renderings.

And when the renderings don't look good people be bitc#%g... :lol:

Thanks for the posting this Kratos! Can somebody clarify if this means/translates that there is no actual height restriction in BGC / North Bonifacio area of Fort Bonifacio due to flight path?

BGC does not directly lie under the airplane flight path and is not subject to heavy noise exposure.

http://farm4.static.flickr.com/3250/2756640629_3f7545dbe0_o.jpg

from Bonifacio Global City website (http://www.fbdcorp.com/)

minimum height above ground level - 500ft AGL

minimum height above ground level - 500ft AGL
^^ Thanks for the info You-wish! That's good to know.

So theoretically a supertall (or atleast a very tall building) can be built in BGC / North Bonifacio area provided of course a developer can purchase a big enough land area to build on. That's good news indeed! :okay: :okay:

well the whole BGC area has FAR restrictions... so to build a supertall, the developer should need to purchase enough land space to build it... or work around with its dimensions to fit the height being aspired..

I don't know if this has been mentioned here before but the design of this tower is strikingly similar to Hongkong's 118-storey International Commerce Center (ICC) in West Kowloon:

Here is the ICC rendering:
http://upload.wikimedia.org/wikipedia/en/5/53/ICC_CG.jpg

Here is a construction update pic of ICC dated May 2008:
http://upload.wikimedia.org/wikipedia/commons/thumb/6/6b/ICC_May.JPG/337px-ICC_May.JPG

Source: Wikipedia (http://en.wikipedia.org/wiki/International_Commerce_Centre)

saw this one too thru private reading at nbs.. :colgate:
the rendering is same as this one as found on http://www.taguig.gov.ph/news.php?ID=83, but the magazine has a bigger pic.

http://www.taguig.gov.ph/archive/images/ft15.jpg

^^ IMO only the "dragontail" resembled it to ICC.

RP's tallest building soon to rise in Taguig
09/08/2008 | 10:23 PM
GMA NEW TV.


MANILA, Philippines - Taguig City will soon become the site of the country’s tallest building, Mayor Freddie Tinga disclosed Monday.

Tinga said Federal Land Tower, a real estate property developer, will construct a 66-storey building that will house a five-star hotel, as well as residential and commercial units.

The mayor claimed the building will outclass the 55-storey Philippine Bank Communication (PBCom) Tower in Makati City, so far the highest edifice in the country with its 241-meter height, comprising 55 floors.

“The completion of the country’s tallest building at The Fort will complement our efforts in promoting Taguig as a ‘total package’ city and will certainly put us in the tourism map of the Philippines,” Tinga said.

The P20-billion building will be constructed on a 27-hectare lot in the North Bonifacio district , which is jointly owned by the Metrobank Group of Companies and the state-owned Bases Conversion Development Authority (BCDA).

Tinga said the construction of the building will begin later this year.Federal Land, Inc., member of the business tycoon George TK Sy's Metrobank Group, will undertake the project.
Tinga said the first 25 floors of the skyscraper will be occupied by the Grand Hyatt Hotel, which will have 500 to 600 rooms and high-luxury hotel facilities.

“Taguig is fast becoming an ideal tourism destination in Metro Manila,” said Tinga said, adding that it would be the most ambitious project in the history of tall buildings in the country.

Tinga said the Federal Land Tower will open more opportunities for the Taguig residents as it will generate more jobs.

Meanwhile, Federal Land, Inc. president Alfred Ty said choosing Taguig City for the project was an "easy decision," citing the rapidly growing developments as a result of forward-looking urban planning schemes. - GMANews.TV

^^ cool...construction will start this year!

http://images.art.com/images/-/The-Simpsons---Mr-Burns-Excellent--C11749617.jpeg

so it seems the new name of this tower is Federal Land Tower now... so I've updated the name of the thread..:D

well I hope they'd release for info, render, and actual location soon..

^^ That might not be the case.

Tinga said Federal Land Tower, a real estate property developer, will construct a 66-storey building that will house a five-star hotel, as well as residential and commercial units.

It sounds like it was just a typo. They put "Federal Land Tower" instead of "Federal Land, Inc." There's still hope for Landmark 66. :D

[SIZE="5"]
Tinga said the [B]Federal Land Tower will open more opportunities for the Taguig residents as it will generate more jobs.


but this has specifically named the building... hmmm... but we'll see when this becomes confirmed..

RP’s tallest building will soon go up at The Fort (http://www.manilastandardtoday.com/?page=news4_sept9_2008)
By Ferdinand Fabella

THE tallest building in the Philippines will soon rise at The Fort in Taguig City.

The Federal Land Tower—all of 66 floors and 250 meters high—will house a five-star hotel and residential and commercial units, and will supplant the 55-story PBCom Tower in Makati City as the country’s tallest building, Taguig Mayor Freddie Tinga said.

“The completion of the country’s tallest building at The Fort will complement our efforts in promoting Taguig as a ‘total package’ city and will certainly put us in the tourism map of the Philippines,” Tinga said.

He said the P20-billion building will be constructed on a 27-hectare lot in the North Bonifacio district, which is jointly owned by the Metrobank Group of Companies and the state-owned Bases Conversion Development Authority. Construction begins later this year.

Federal Land Inc., a property developer and a member of business tycoon George SK Ty’s Metrobank Group, will undertake the project.

Tinga said the first 25 floors of the skyscraper will be occupied by the Grand Hyatt Hotel, which will have 500 to 600 rooms and luxury hotel facilities.

“Taguig is fast becoming an ideal tourism destination in Metro Manila,” Tinga said.

In a statement, Federal Land Inc. president Alfred Ty said choosing Taguig for the project was an “easy decision.”

“Choosing Taguig was an easy decision to make, especially with its rapidly growing developments as a result of forward-looking urban planning schemes,” Ty said.

Tinga added that the Federal Land Tower would open more job opportunities for Taguig residents.

He announced that the Philippine Stock Exchange was planning to transfer a unified bourse to a modern office on a 5,000-square-meter lot also in Fort Bonifacio.

“This is exactly what we have envisioned for Taguig, particularly here in Fort Bonifacio—a place where people can live, work and enjoy in one community,” he said.

PBCom Tower, located along Ayala Avenue and Herrera Street in Makati, is now the tallest building at 241 meters high and with 55 floors. i

The building, developed by Filinvest, was completed in 2000 and surpassed the 45-story Petron Megaplaza on Gil Puyat Avenue, also in Makati.

RP’s tallest building will soon go up at The Fort (http://www.manilastandardtoday.com/?page=news4_sept9_2008)
By Ferdinand Fabella

THE tallest building in the Philippines will soon rise at The Fort in Taguig City.

The Federal Land Tower—all of 66 floors and 250 meters high—

250 meters only???? PBCom Tower (according the IA Campbell and Associates, project manager of the building...I know so since I was the one that put the info in Emporis with them as the source) is actually 259 meters (tip of the communication structure which is part of the building's structure) and the 241 meter figure is up to the roof/helipad. So it seems that PBCom will still technically be taller than Federal Land Tower. Oh well...

so it's not a supertall. :(

WTF! Lol PBCom is 259m. Retard claims. :lol:
That better be a typo! It might be 350m. :lol:

Well, the writer could be wrong. The local media tends to make a lot of mistakes.

And check out this entry in Wikipedia:

--------------------------------

http://en.wikipedia.org/wiki/Federal_Land_Tower

The Federal Land Tower is a 66-storey (250 meters high) skyscraper that will surpass the PBCom Tower, Makati City (259 m (850 ft, 52 stories high plus an 8-level radio tower), when completed.The P20-billion tower will be constructed late 2008, by Federal Land, Inc. (led by president Alfred Ty), on a 27-hectare North Bonifacio district lot (jointly owned by the Metrobank Group of Companies and the Bases Conversion Development Authority, BCDA).[1]

On September 9, 2008, Taguig City Mayor Sigfrido Tiñga officially announced and claimed that Fort Bonifacio and the City will be the site of the Philippiness tallest building (in the List of tallest buildings and structures in the world by country). The first 25 floors of the skyscraper will be occupied by the Grand Hyatt Hotel (500 to 600 rooms), while the rest, by residential and commercial units.[2]

---------------------------------

250m is greater than 259m daw. Good math. :lol:

^^ then it must be 350m. :)

Well, the writer could be wrong. The local media tends to make a lot of mistakes.


'responsible' journalism daw 'yun :lol:

LOL. malamang mas mataas federal land tower, mali lang yang news and wikipedia. hehe

55 floors lang yung PBCOM, 66 yung FLT. baka nga mas mataas talaga FLT.

well... buildings differ from their floor to ceiling heights so the number of floors necessarily makes one taller than the other... one example is the Shangri-la at the Fort which is also 66 stories high but it is not going to be taller than PBCom

it sounds so wrong :lol:

well, the fact na philippine media is almost always wrong, this report is most likely not reliable :D

There is no way Federal Land is 350 meters, That would mean its taller than the 100 storey John Hancock Center in Chicago. The ceiling heights of the offices and hotel can't be that tall, unless they want to add more floors or a very tall spire to reach the 350 meter height. It does make sense that Federal Land Tower is 250 meters so I don't think its a typo. The hotel rooms will definitely have a lower ceiling height. Given that it does have an office component, it will be taller than the Shangrila for sure.

The biggest mistake amongst the journalist, developer and Taguig mayor is the claim that it would be taller than PBCom. While it could be from ground to roof, it won't be from ground to the "overall structure". So in a sense, what we will have here is no different that the rivalry between the Sears Tower and Petronas Towers back in the late 90s, roof vs spire kinda thing. It seems that the reporters only disclosed the PBCom's height based on roof, not the "spire", to imply Federal Land Tower is taller.

So it appears, Federal Land Tower is NOT a supertall nor will it become the tallest building in the country based on the published info provided. I wonder if George Ty is reading this thread and would like to add 10 meters of structural stuff to his building just to have the bragging rights though... ;)

it's okay even if it's only 250M tall as long as it gets builts the soonest and won't be pushed back just like what happend with the PSE building.

Ty quit the supertall race :(

it sounds so wrong :lol:

well, the fact na philippine media is almost always wrong, this report is most likely not reliable :D

Oo nga, especially when it comes to real estate related articles. They just don't know their stuff.

We're better off relying with the SSC tsismoso guys for info on this development. :D

I thought Gramercy residences was going to be the tallest building?

thought so too.

Oo nga, especially when it comes to real estate related articles. They just don't know their stuff.

We're better off relying with the SSC tsismoso guys for info on this development. :D

if the report is indeed true, the height must only be up to the roof only as well.

naku nakakahilo namn pero i think malitalga ung news reporter....kailangan na nga nila mag cape and pendesal para maintindihan nila kung ano ba ang kinakain ang kung ano ang iniinum...hehehe

if the report is indeed true, the height must only be up to the roof only as well.

^^
Yes, according to Skyscraper.com, the PBCom Tower is 241m high at the roof (259m w/ antenna). So if the Federal Land/Grand Hyatt is 250m at the roof, then it would be taller. :okay:

Someone tell George Ty so he can add a 100 meter Antena Spire ala burj Dubai, voila 350m supertall hehe

I tried mapping out the boundaries of North Bonifacio. At a 25-hectare lot area measurement, I think it's close enough. ;) Hopefully! :D

http://i20.photobucket.com/albums/b210/ofngol/2008/northboni.jpg

here's the link to the points I created in wikimapia with the corresponding lot-area measurements:

http://wikimapia.org/#lat=14.5581017&lon=121.0519874&z=17&l=0&m=s&v=1&gz=1;1210493052;145540102;5364;26792;2468;19419;0;19211;429;18485;57399;0;58794;7165;57936;11008;55683;13708;45276;22223;40126;22638;40126;33646;40609;42265;41252;48184;56756;46730;60189;57426;51820;60230;54610;67603;62764;64799;64695;69887;51337;77935;46241;80375;45490;73418;41521;74768;37283;75495;32669;75443;33098;68433;44310;67551;44203;64591;40984;64383;27037;58984;22477;60437;21672;59036;15450;41330;10407;42732;9871;41849;14913;40396;13518;35619;23496;33438;23603;27519;16630;28557;17166;23469

Now the problem is, we still don't know where Fedland's share is. Anyone here who has an idea? My idea is that theirs is part of the area to the left of Bonifacio Boulevard if you try drawing the planned road.

The Fort: A frenetic pace of development
By Tina Arceo-Dumlao
Philippine Daily Inquirer
09/21/2008
http://business.inquirer.net/money/features/view/20080921-162051/The-Fort-A-frenetic-pace-of-development

THE former military base in Fort Bonifacio, Taguig City, is a picture of frenetic construction activity.

Huge cranes operate day and night to pour concrete into new office buildings, residential condominiums, schools and hospitals that will change yet again the skyline of this new central business district.

Orchestrating the development is the Bases Conversion and Development Authority, a government corporation formed in 1992 to convert the former US military bases and Metro Manila military camps into centers of economic growth.

BCDA, under chair Aloysius R. Santos, is on its way to fulfilling its mission, not just in the former Fort Bonifacio, but in its other areas of responsibility, including the Clark and Subic military reservations and Camp John Hay in Baguio City.

Santos recently sat with the Inquirer and discussed how far Fort Bonifacio has come in terms of development and where he wants to see it go under his watch.

Q: What was the state of development of Fort Bonifacio when you came in?

A: When I assumed the chairmanship of the BCDA in November 2006, the development of the Bonifacio Global City was already being undertaken both by Fort Bonifacio Development Corp., which is controlled and managed by the Ayala-Campos Group for a 150-hectare-area joint venture with BCDA, and by BCDA itself for the other BGC areas.

From the prolonged real estate crisis that started in 1997, it was only in 2007 when land values and rental values in Bonifacio Global City recovered and returned to the pre-1997 levels. It was only in 2007 where land prices have again reached more than P135,000/sq.m., together with office rental values at P700-1,000/sq.m. and rental rates for high-end condominium units like Pacific Plaza Towers at more than P200,000 per month. Also in 2007, Pacific Plaza units have sold at the P28- to P32-million level, which were the prices at its onset.

There were relatively few completed and startup projects in Bonifacio Global City when I first came on board. In 2003, there were only seven projects completed, bringing the total accumulated projects from the very beginning to only 28, with a developed gross floor area (GFA) of 718,000 sq.m. By 2006, there were nine projects completed for the year, bringing the total to 51 projects completed, covering 798,000 sq.m. of GFA.

In 2007, there were 17 projects completed, the highest for one year in the history of Bonifacio Global City, bringing the accumulated total to 68 projects, covering 1,051,000 sq.m. GFA.

This trend is clearly being sustained because there will be 14 projects completed by 2008, accumulating to 82 total projects of 1,359,000 sq.m. Not only were there more projects completed but the projects covered more gross floor area and would double the gross floor area in a span of only two years.

Based on building applications so far received, and including the Expanded Big Delta lots, which were recently sold to the Net Group headed by Charlie Rufino and Jacques Dupasquier, there will be 128 total projects completed in 2012, covering 2.6 million sq.m. of GFA.

In real terms in 2006, we only had the schools, very few office buildings like Net One and Net Square, and several residential condominiums like Pacific Plaza and Essensa. Market! Market! opened only in 2004. Bonifacio High Street and the Serendra retail strip only became fully operational in 2007.

This year, the 66-story Shangri-La Hotel commenced construction and, by the end of 2008, we shall break ground both for the 50-plus-story Philippine Stock Exchange Buildingand the Science Museum.

The development of the North Bonifacio (North Boni) area, bounded by Kalayaan Avenue and which comprises about 25.8 hectares, started in the first quarter of this year. The North Boni area includes the Metrobank/Federal Land [property] with 10.5 has., within which will rise a 66-story tower to house an international five-star hotel.

Q: What do you think are the factors behind the frenetic pace of development today?

A: Starting 2007, there were many factors which contributed to this fast-paced development of Bonifacio.

We start with the takeover of Ayala Land Inc. and the Campos Group in FBDC, which brought a fresh wave of confidence and optimism in the development of Bonifacio Global City, coupled with the infusion of new capital and substantial resources.

Secondly, the admirable growth of the Philippine economy brought new investments to Bonifacio.

Thirdly, the remittances of the overseas Filipinos (workers, balikbayans and professionals) fueled the residential market.

Fourthly, the growth of the call centers and BPOs spurred the office sector as well as the residential and retail/entertainment sectors.

Fifth, the government and BCDA embarked on an honest-to-goodness privatization program which encouraged and set the environment for more investments and public-private sector partnership.

As importantly, a major factor is the BCDA organization itself, which drives BCDA’s contribution to this frenetic pace of development not just in Bonifacio but also in other former military bases as well.

Under its charter, BCDA’s main strategy for conversion, development and disposition is privatization. BCDA -- from its board, to its management, and down to its staff members -- believes and advocates close partnership with the private sector. The pivotal and crucial role of the private sector is recognized and highly regarded. The BCDA Board is a multidisciplinary and collegial decision-making body composed of representatives from the private sector, the labor sector, experts from the academe, practitioners in finance and business and socio-civic organizations.

Q: What was the major turning point?

A: The main turning point is the turnaround of the real estate sector in the latter part of 2006, hand-in-hand with the robust economic growth of the Philippines in 2007.

Q: Do you see growth continuing? Why or why not?

A: Growth will continue. Overseas Filipinos will continue to invest and the BPOs will continue to grow. In fact, the near-recession situation in the United States is spurring major US companies to outsource business processes because of lower costs.

Many international investment funds and foreign investors, especially China, continue to be very bullish on Philippine real estate.

With sustained growth of the Philippine economy, there still remain major opportunities, especially with the support of President Macapagal-Arroyo’s administration and her policy to attract and encourage foreign investment in this area of land development.

Admittedly, there are present vulnerabilities that are apparent, like price increases in construction materials, rising world oil prices, weakening of the US economy and those of other western economies, the subprime crisis in the US, and the decline of several stock markets abroad, including that of the Philippines. Today, we have double-digit inflation, which is evident in increasing food prices and even a slight uptick in interest rates despite the liquidity of the banking system.

For Fort Bonifacio, however, I can still see growth even in the face of these threats because, overall, the Philippine real estate industry has a life of its own, and the development here at the Fort has gained momentum due to its model-city quality-of-life development.

Q:. What is driving the growth of the real estate industry in general?

A: First, continuing growth of Philippine economy. Second, growing overseas Filipino workers remittances, projected to be at $16 billion (as per data from the Bangko Sentral ng Pilipinas) this year. Third, continuous growth of the BPO sector. As per Megaworld, which is developing four major BPO hubs, two of which are in Global City, BPO demand here in RP will not only increase but will be accelerated.

Q:. What do you think makes Fort Bonifacio unique and in a position to attract a lot of investments?

A: Fort Bonifacio is unique because :

• Its location, being next-door to the Makati Central Business District and near access to the Naia Airport (Naia Terminal 3 is on BCDA property);

• It is world-class (underground utilities, infrastructure, design standards, anchor locators, etc.);

• Presence of a major state-of-the-art hospital—St. Luke’s —which will be the model for hospital tourism in Southeast Asia;

• It has ample open spaces, amenities, and institutional areas (largely for education) to serve its locators;

• It is not congested like Makati, and will not be congested because of the strict adherence to the floor-area-ratio (FAR) where, as they say, buildings are allowed to breathe, and having in place a master plan of high international standards;

• It builds on the name of Ayala, Megaworld and other well-known and credible developers;

• It offers a quality of life than most developments; and,

• The support provided by the city government of Taguig.

Q: Does BCDA just accept any investment or does it screen buyers? If you do weigh investments, what do you look at when evaluating project proposals?

A: In Fort Bonifacio, as well as for the other former military camps in Metro Manila, BCDA always uses a competitive selection process, e.g., bidding, for the developers/buyers/joint venture partners.

Moreover, it is not just the price that is a consideration in the privatization and dispositions of real estate assets of
BCDA, but more importantly, the reputation of the JV partner or of the property buyer.

Thus, BCDA seriously considers the financial and technical capability, commitment, credibility and track record/reputation of its developers. A developer should be able to bring great value to the development. As a result, BCDA selects only the best developers as partners or as property buyers.

Q:. How do you see Fort Bonifacio five years from now? What is your vision for the Fort?

A: In five years, Fort Bonifacio will continue to be a rapidly developing global city, involving major foreign investor/developers. As mentioned earlier, the development has already shifted from the Expanded Big Delta Lots, which is in its eastern portion, adjacent to Manila Golf, to the North Bonifacio area.

Presently, BCDA is jointly developing roads and utilities in North Bonifacio with Metrobank/Federal Land as well as with FBDC.

So, from the residential-dominated development at the onset, development will be more oriented to that of offices, commercial, entertainment and even institutional. Bonifacio shall be a primary business district with a strong mix-use component.

BCDA intends to push the frontiers of Bonifacio towards the south to link with the Villamor and Nichols Base areas. Already, BCDA is preparing the development and disposition plans for its remaining properties, south of Bonifacio Global City, to be called Bonifacio South, covering 93 hectares. This will be another major-scale development which should attract more investors, both foreign and local.

Aside from being the home of passionate minds, Bonifacio Global City will be a city with a vibrant soul. The amenities that are sometimes forgotten in the single-minded pursuit of real estate profits shall be established. Examples are cultural centers, convention centers, concert halls, art centers, sports stadium, science museum, parks and plazas, and even a civic center.

Bonifacio will be the showcase of successful public-private sector partnership.

Bonifacio shall be a City for the Mind, the Body, and the Soul, and as its motto states—“The Way Life Should Be.”

Federalland told me some interesting things about this project:
Starts next year and will take 4 years to complete.
They ARE NOT necessarily going for Philippines tallest building, in fact they never said they would go for it, it's just speculation by the media. What they surely want to do is get the maximize FAR at the current ATO height limit (aparently there is one for the area). They think that Shang and them are probably the same height because of the said height restriction.
The picture posted here is definitely not the way the building looks. Design is stillnot frozen though they have a good idea of what it will look like and it's not HOK which will design it but a HK firm.
Anyway looking forward to a final design so we can see it.

^^ Would you be able to confirm if this is close enough to the actual lot boundaries? Fedland's and BCDA's.

I tried mapping out the boundaries of North Bonifacio. At a 25-hectare lot area measurement, I think it's close enough. ;) Hopefully! :D

http://i20.photobucket.com/albums/b210/ofngol/2008/northboni.jpg

here's the link to the points I created in wikimapia with the corresponding lot-area measurements:

http://wikimapia.org/#lat=14.5581017&lon=121.0519874&z=17&l=0&m=s&v=1&gz=1;1210493052;145540102;5364;26792;2468;19419;0;19211;429;18485;57399;0;58794;7165;57936;11008;55683;13708;45276;22223;40126;22638;40126;33646;40609;42265;41252;48184;56756;46730;60189;57426;51820;60230;54610;67603;62764;64799;64695;69887;51337;77935;46241;80375;45490;73418;41521;74768;37283;75495;32669;75443;33098;68433;44310;67551;44203;64591;40984;64383;27037;58984;22477;60437;21672;59036;15450;41330;10407;42732;9871;41849;14913;40396;13518;35619;23496;33438;23603;27519;16630;28557;17166;23469

Now the problem is, we still don't know where Fedland's share is. Anyone here who has an idea? My idea is that theirs is part of the area to the left of Bonifacio Boulevard if you try drawing the planned road.

anyone who has a copy of the BCIAsia publication architecture 09?
i saw this project featured and yes it doesnt look like any of the previously posted renderings
architect is wong and ouyang i think of HK
i think BCI Asia said the publication will be out 1st wk of october, so if anyone got it can pls post?

^^ so they've changed the design of the tower? so, what do you think of the new design? is it better or worse?

Disappointing that this probably won't be a supertall. At this point that 655m Pagcor Tower is probably a pipe dream also. Where will the Philippine's first supertall be? Clark/Subic? Cebu/Iloilo/Mindanao?

I just hope that the design is still nice!

Aside from coming out with the final design of its project, can Federal Land already give us its correct name so that we can already fix the thread title above?

^^ :lol: