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Taguig For projects in Bonifacio Global City, McKinley Hill and other parts of the city



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Old March 7th, 2013, 03:12 AM   #1
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BGC | Project Cube 5th Avenue[3T|mix]

Philrealty, Greenhills Properties in deal to build Global City tower complex
By Doris C. Dumlao | Philippine Daily Inquirer | Wednesday | March 6th, 2013 | 2:35 pm

MANILA, Philippines—Philippine Realty and Holdings Corp. inked on Wednesday a deal with principal shareholder Greenhills Properties Inc. (GPI) on a P5-billion three-tower mixed-use development in Bonifacio Global City.

Under a memorandum of agreement, Philrealty will develop the masterplan of GPI’s prime 6,400-square-meter property located near the future site of the Philippine Stock Exchange in BGC. The new project will include a retail, residential, office, serviced apartments and a hotel.

As Philrealty was one of the original members of the consortium that took over the privatized Fort Bonifacio, the company seeks to raise its stake in BGC, Philrealty president Amador Bacani said during the signing ceremony.

“This project will really show Philrealty’s renewed capability as a property developer known for building landmarks. The location is strategic and the timing is perfect for Philrealty to put its mark on BGC,” Bacani said.

“We look forward to this value-enhancing project and share in Philrealty’s vision of building a new landmark in BGC,” GPI chair Gerardo Lanuza Jr. said.

The project will rise on an entire block connecting 5th and 6th Avenues as well as 25th and 24th Streets. The P5-billion estimated project cost for this mixed-use includes the cost of land, Bacani said.

In an interview, Gerardo Domenico Antonio Lanuza III, Philrealty director and vice president for special projects, explained that the project would comprise three towers connected by a podium structure which would house the retail shops. He said the shops would cater to the community in the mixed-use development.

The retail development will be followed by either an office or residential tower, Lanuza said. He added that the upscale residential tower was envisioned to be a very exclusive, low-density development similar to the high-end La Isla project in Ortigas.

“There will only be a maximum of four units per floor,” Lanuza III said, estimating a cut of at least 250 square meters per unit.

La Isla, likewise a collaboration between Philrealty and GPI, was built at around the same time that the property developer put up the Alexandra residential clusters and the PSE Tektite Center in the area.

Lanuza estimated that this project would be developed in the next five to six years.

The group will appoint a master planner in the next three to six months, after a definitive joint venture shall have been signed, Bacani said.

As to the funding of this project, Bacani said Philrealty would see free cash from the sale of residential units in the 31-storey Skybreeze. At the same time, he said the group had provincial properties which it hoped to liquefy soon.

Philrealty expects sales of nearly P3 billion from the Skybreeze tower which will offer 280 units. This is the second of the five planned towers in the Andrea North condominium complex in New Manila, Quezon City.

Source: http://business.inquirer.net/110933/...-tower-complex
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Old March 7th, 2013, 03:47 AM   #2
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Philrealty, Greenhills in P5-B project
by MADELAINE B. MIRAFLOR | Manila Times | Wednesday | Published on 06 March 2013


Philippine Realty and Holdings Corp. (Philrealty) and Greenhills Properties Inc. (GPI) will be partnering for a P5-billion mixed-use development in Taguig City, company officials said.

During a press briefing on Wednesday, the two firms signed a memorandum of agreement that secures their partnership in developing a 6,400-square meter property in Bonifacio Global City (BGC) in Taguig.

Under the agreement, Philrealty will develop the master plan of the property, which is envisioned by the two firms to be a prime mixed-use development that will feature retail, residential, office, serviced apartments and a hotel. Philrealty President Amador Bacani told reporters that construction for the project will commence as early as next year.

“We are already going to appoint a master-planning and this takes about three to six months. The construction will start maybe early or middle of next year and just going by the number, my estimates is P5 billion project cost, excluding the land,” he said.

Bacani also said that Philrealty intends to fund the project through the sales of another project.

“Part of the funding will come from the Skybreeze project. As soon as we begin pre-selling this project, this will also contribute to the revenue stream,” he said, adding that they are expecting sales of nearly P3 billion from the 31-storey condominium development.

He even mentioned that the company is open to partnering with other big real estate developers for the residential component of the development. Gerardo Lanuza Jr., chairman of Greenhills Properties, on the other hand, said that they look forward to the project and share Philrealty’s vision of building a new landmark in BGC.

Philrealty is a publicly-listed property developer and holding company known for major projects such as the Philippine Stock Exchange Center in Ortigas, while Greenhills Properties is a privately held investment company also focused on real estate, among others.

Source: http://www.manilatimes.net/index.php...n-p5-b-project
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Old March 7th, 2013, 03:50 AM   #3
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Philrealty, Partner Bare P5-B Condo Dev’t Project In BGC
By: James A. Loyola | Manila Bulletin | Thursday | Published: March 7, 2013


Philippine Realty and Holdings Corp. (Philrealty) and Greenhills Properties Inc. (GPI), two firms controlled by the Lanuza family, are teaming up for the P5 billion development of a prime property in Bonifacio Global City.

In a press briefing, the firms announced that they have signed a memorandum of agreement under which Philrealty will develop the masterplan of GPI’s 6,400-square meter property located near the future site of the Philippine Stock Exchange (PSE) at the center of BGC.

The property consists of four 1,600-square meter lots comprising an entire block that connects the 5th, 6th, 25th and 24th Streets in the BGC South district.

Philrealty and GPI envision this project to become a prime mixed-use development that will feature retail, residential, office, serviced apartments, and a hotel.

“This project will show Philrealty’s renewed capability as a property developer known for building landmarks. The location is strategic and the timing is perfect for Philrealty to put its mark on BGC,” said Philrealty president Amador Bacani.

GPI chairman Gerardo Lanuza, Jr. added that “we look forward to this value-enhancing project and share in Philrealty’s vision of building a new landmark in BGC.”

Bacani said the masterplan may call for two to three office and residential towers with some of the residential units to be allotted for a planned high-end condotel. He said they will be looking to tap an international hotel operator for the condotel.

For the retail component, Bacani said they may allot the first two floors for the mall which will have a size of 1.5 times the property area or roughly 10,000 square meters of leasable space.

The BGC project will be added to the growing number of projects of Philrealty. The company will be launching a second tower called Skybreeze at its Andrea North condominium development in New Manila, Quezon City.

The company expects sales of nearly P3.0 billion from the 31-storey Skybreeze Tower, which will offer 280 units with cuts that are larger than those offered within the vicinity.

The Skybreeze condominium will offer 1BR units at a minimum of 50 square meters each up to 3BR units at 180 square meters each. This will be the second of five planned towers in the Andrea North condominium complex. Bacani said revenues from Skybreeze will be used to party fund the BGC project.

Source: http://www.mb.com.ph/article.php?aid...sid=2&subid=84
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Old March 7th, 2013, 03:54 AM   #4
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Philrealty allots P5B for mixed-use project
By Neil Jerome C. Morales | The Philippine Star | Updated March 7, 2013 - 12:00am


MANILA, Philippines - Listed property firm Philippine Realty & Holdings Corp. (Philrealty) will spend P5 billion for a mixed-used project in the sprawling Fort Bonifacio business district.

The masterplanned development forms part of Philrealty’s plans to be active anew in the real estate sector as it exits corporate rehabilitation.

Philrealty and Greenhills Properties Inc. signed yesterday a joint venture deal to develop a 6,400-square-meter (sqm) prime property in Bonifacio Global City (BGC) in Taguig.

Philrealty president Amador Bacani said the development of the four 1,600-sqm lots near the future headquarters of the Philippine Stock Exchange (PSE) will require P5 billion in investments.

“This project will show Philrealty’s renewed capability as a property developer known for building landmarks,” Bacani said.

Gerardo Lanuza, vice-president for special projects of Philrealty, said the area will feature three towers: one office, one hotel or serviced apartment and one residential.

“In the Fort, everybody is excited. Takeup is still large,” Lanuza said.

Bacani said proceeds from the sale of units in the newly-launched Skybreeze Tower will fund the five-year construction of the property in BGC.

Skybreeze Tower is a 31-story residential building in Cubao, Quezon City that will generate P3 billion in sales. The second of five towers in the Andrea North condominium development will house a total of 280 units ranging from 50-180 sqm.

Bacani said the BGC project is the second partnership of Philrealty with Greenhills Properties. The two firms completed the 20-story La Isla residential condominium project in Ortigas Center.

Once a high-profile real estate company, Philrealty developed upscale projects in Ortigas Center, foremost of which is Tektite Towers – the former headquarters of the PSE – and the Alexandra, a luxury mid-rise residential condominium in Ortigas Center.

The company filed for rehabilitation with the courts after it was saddled with around P3 billion in losses following a slump in the real estate industry in 1997.

“We are on the road to normalcy,” Bacani said, adding that its debts were already cut to around P150 million.

Source: http://www.philstar.com/business/201...ed-use-project
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Old March 7th, 2013, 04:29 AM   #5
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Philrealty on big ticket project
by ALBERT CASTRO | Malaya | Thursday | 07 March 2013 00:00


Philippine Realty and Holdings Corp., is working to have its first big ticket project in Bonifacio Global City (BGC), 11 years after undergoing rehabilitation and bounce back 16 years after succumbing to the Asian financial crisis of 1997.

Partnering with mother company Greenhills Properties Inc., (GPI), Philrealty yesterday formally sealed the deal for the development of a 6,400-square meter property of the latter near the future site of the Philippine Stock Exchange at the center of the BGC.

The property is a cluster of lots comprising the entire block from the 5th, 6th, 25th and 24th streets in BGC’s south district.

In an earlier interview, Philrealty president Amador Bacani earlier said the development is estimated to cost a little over P3 billion.

The company is working on the master plan of the property for mixed-use development featuring retail, residential, office, serviced apartments and a hotel.

“This project will show Philrealty’s renewed capability as a property developer know for building landmarks,” Bacani said.

“The location is strategic and the timing is perfect for Philrealty to put its mark on BGC,” he added.

Bacani said the Bonifacio project may generate an estimated P7 billion to P8 billion in sales when fully completed, while propping up the image of the revitalized Philrealty.

“We look forward to this value-enhancing project and share in Philrealty’s vision of building a new landmark in BGC,” said Gerard Lanuza, Jr., GPI chairman, and Philrealty’s vice president for special projects.

The BGC project is an addition to the company’s growing number of projects after completing the Andrea Skyline segment of the Andrea North condominium project in Quezon City.

Andrea North was one of Philrealty’s mothballed projects after it became saddled with debt.

The completion of Andrea Sklyine is one of the conditions to exit from a court-approved rehabilitation process.

In the five-tower Andea North, Philrealty will launch the 31-storey Skybreeze residential project where it expects to generate sales of nearly P3 billion. Skybreeze offers 280 units with cuts larger than those offered within the vicinity. The one-bedroom unit will have a minimum size of 50 sq.m. and the three-bedroom unit at 180 sq.m.

Bacani said Philrealty has pared down its debt to P200 million from P3 billion which it intends to pay with receivables from the company’s other current projects.

Source: http://www.malaya.com.ph/index.php/b...ticket-project
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Old March 8th, 2013, 12:51 AM   #6
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Originally Posted by skyscraper2012 View Post
Philrealty, Greenhills Properties in deal to build Global City tower complex
http://business.inquirer.net/110933/...-tower-complex

Philippine Realty and Holdings Corp. inked on Wednesday a deal with principal shareholder Greenhills Properties Inc. (GPI) on a P5-billion three-tower mixed-use development in Bonifacio Global City.

Under a memorandum of agreement, Philrealty will develop the masterplan of GPI’s prime 6,400-square-meter property located near the future site of the Philippine Stock Exchange in BGC. The new project will include a retail, residential, office, serviced apartments and a hotel.

As Philrealty was one of the original members of the consortium that took over the privatized Fort Bonifacio, the company seeks to raise its stake in BGC, Philrealty president Amador Bacani said during the signing ceremony.

“This project will really show Philrealty’s renewed capability as a property developer known for building landmarks. The location is strategic and the timing is perfect for Philrealty to put its mark on BGC,” Bacani said.

“We look forward to this value-enhancing project and share in Philrealty’s vision of building a new landmark in BGC,” GPI chair Gerardo Lanuza Jr. said.

The project will rise on an entire block connecting 5th and 6th Avenues as well as 25th and 24th Streets. The P5-billion estimated project cost for this mixed-use includes the cost of land, Bacani said.

In an interview, Gerardo Domenico Antonio Lanuza III, Philrealty director and vice president for special projects, explained that the project would comprise three towers connected by a podium structure which would house the retail shops. He said the shops would cater to the community in the mixed-use development.
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Originally Posted by crossboneka View Post
location

Another big development at 5th Avenue in the pipeline and it's that whole block where that Icon Plaza showroom is currently located! Wonder how soon the Icon Plaza showroom will be demolished (sold out na ba ang Icon Plaza project)? Anyway looking forward to the project render. Hopefully the project will be a nice good looking development that will fit and compliment the area especially considering it will be rising along the high profile 5th Avenue corridor of BGC which is starting to look like the Fort's version of Makati's Ayala Avenue especially with all these on going high profile projects lined up there currently in construction like the Net Metropolis and The West Block that includes the unified Philippine Stock Exchange, Shang Hotel/Mall, just to name a few.
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Old March 8th, 2013, 12:56 AM   #7
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Here's another pic of the area/vicinity where this development will be in BGC... it's that big lot being used as a parking lot and showroom.

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Originally Posted by Worthington View Post
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Old March 8th, 2013, 01:46 PM   #8
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Philrealty, GPI to develop Global City property into P5B mixed-use towers
By Leslie D. Venzon | Positive News Media | Thursday | on Mar 7, 2013


MANILA, March 7 (PNA) — Philippine Realty and Holdings Corp. (Philrealty) has partnered with its mother company Greenhills Properties Inc. (GPI) to develop a 6,400-square-meter prime property in Bonifacio Global City into a mixed-use project at a cost of P5 billion.

The two property companies on Wednesday signed a memorandum of agreement (MOA) that sealed their partnership in developing the property.

“The project can be two towers – one residential and one office and hotel or serviced apartment, or it can be three (towers). These will be decided by the master-planner,” Philrealty President Amador Bacani told reporters.

Bacani said they are targeting to start the construction of the project by next year. Its master-planning will still take three to six months.

He said Philrealty is hoping to book P7 billion to P8 billion in sales from the Fort Bonifacio project.

Bacani bared that the project will be constructed using proceeds from the first and second towers in its Andrea North condominium development project in New Manila, Quezon City.

The company will be launching a second tower called Skybreeze, the second of five planned towers in the Andrea North complex. It targets to generate revenues of P3 billion from the 31-storey tower which will offer 280 units.

“We have also provincial properties which we hope to liquify soon starting with our San Fernando, La Union townhouse subdivision,” Bacani said.

He said the 200-unit La Union townhouse project can bring in P700 million for the company.

Bacani said these three projects will be added to the growing number of projects of Philrealty. The company has also properties in San Juan, La Union and Tagaytay, among others.

Source: http://positivenewsmedia.com/blog/20...ed-use-towers/
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Old March 8th, 2013, 03:04 PM   #9
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250 sqm + cuts and only 4 units per floor will make this the most high end residential in BGC since Essensa and Pacific Plaza.
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Old March 8th, 2013, 03:22 PM   #10
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Originally Posted by absolutblue View Post
250 sqm + cuts and only 4 units per floor will make this the most high end residential in BGC since Essensa and Pacific Plaza.
I don't think so. Looking at their budget of 5 Billion that's good for 3 towers already.

IMHO Its hard to think that this will end up more exclusive than The Suites and Hyatt Residences with that budget.
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Old March 8th, 2013, 05:22 PM   #11
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Love this!
Helps out my Seibu investment
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Old March 8th, 2013, 06:50 PM   #12
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yeah. land value boost indeed in this area.
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Old March 10th, 2013, 10:59 AM   #13
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Quote:
Originally Posted by dunamis View Post
I don't think so. Looking at their budget of 5 Billion that's good for 3 towers already.

IMHO Its hard to think that this will end up more exclusive than The Suites and Hyatt Residences with that budget.
Yeah I admit I didn't look at the budget and how it compares to those other projects, I was just looking at the large unit cuts and low number of units per floor.

What I meant was it is the first project in BGC since Pacific Plaza and Essensa to have only 4 units per floor and all units with huge cuts.
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Old April 1st, 2014, 01:28 AM   #14
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Hi Mod, please rename this as PROJECT CUBE 5th Avenue. Thanks!
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Old April 1st, 2014, 03:14 AM   #15
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At least there are still forumers here good at playing connect-the-dots, much like the older SSC forumers that I grew up with including those that came from the previous WSF (World Skyscraper Forums) where SSC came from.

Anyway, here's the post from the other thread which could either be merged or simply deleted.

Thanks.

Philrealty exits rehab, sets strong comeback
By Zinnia B. Dela Peña (The Philippine Star) | Updated April 1, 2014 - 12:00am

Philrealty is working with long-term partners from Greenhills Properties Inc. to develop Project Cube 5th Avenue, a mixed-use vertical development that will feature retail, office, residential, serviced apartments and a hotel facility in Bonifacio Global City...

read more:http://www.philstar.com/business/201...trong-comeback

---

http://www.rappler.com/business/indu...ehab-expansion

http://www.gmanetwork.com/news/story...y-developments

http://www.interaksyon.com/business/...e-metro-manila

http://businessmirror.com.ph/index.p...illion-project

http://www.manilatimes.net/philrealt...rojects/86698/

http://www.malaya.com.ph/business-ne...rehabilitation

http://www.tribune.net.ph/business/b...llion-projects
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Old April 1st, 2014, 06:54 AM   #16
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So this is the lot bounded by 5th and 6th Aves. and 24th and 25th Sts. near Rizal Drive? This is currently being leased by an office building as parking lot for its tenants.
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