MANDALUYONG | St. Francis Shangri-La Place

[planet urrranus]

MANILA, PHILIPPINES | Monday, January 24, 2005

RP's tallest building to cost P5B


Edsa Properties Holdings, Inc. (EPHI) is planning to build the country's tallest residential building at a cost of P3 billion to P5 billion.

The St. Francis, a residential condominium with two towers of 60 storeys each, will be built in Mandaluyong City, at the fringes of the Ortigas Center.

Vicente P. Formoso, EPHI vice-president and treasurer, also told reporters, "We will use internal funds from existing properties to develop The St. Francis. Our projects, which have been doing well, will generate the cash."

Given its proposed location, The St. Francis will be accessible to business and retail establishments, schools, hospitals, and the EDSA MRT. It will be linked to the EDSA Shangri-la Hotel, Shangri-La Plaza Mall, Shang Cineplex, and the MRT Shaw Station.

EPHI owns most of the properties near the corner of Shaw Boulevard and EDSA.

Mr. Formoso said his company was also keen on expanding to other areas.

"We intend to have a series of projects such as malls and entertainment centers, but we want to concentrate in Metro Manila," he said.

He also said parking lot on one of the lots owned by EPHI in Mandaluyong City could become a "big development" in the future.

"A parking lot may be a future development. The St. Francis used to be a parking lot as well, but is now being developed to a structure with two towers of 60 storeys each," he added.

EPHI is into property development and real estate management, and is also a holding company formerly known as MUI Resources Phils., Inc.

It was formed in 1987 and now owns 78.72% of Shangri-La Plaza Corp. It also has interests in EDSA Shangri-La Hotel & Resort, Inc. and Shangri-La International Hotel Management Ltd. Its assets include leasable land in Mandaluyong City, the Shangri-La shopping mall, and the adjoining carpark.

In 2000, the company acquired 23.52% of KSA Realty Corp., the owner and operator of Enterprise Center in Makati City, a modern and luxurious office building.

[renell]

yay more news thanks for this one.

"country's tallest residential building" well that's at least 203m because currently the tallest is 1322 Roxas at that height.

[pau_p1]

wow... this is nice... at least now.. another tower might catch more of the Ortigas skyline on that side... BSA is the most commonly noticed tower there.. IMO...

and they are tall.. nice!... good development... anyways.. would this rise along Shaw? between Shangri-La and Citiland?.. or that land beside Citiland across St. Francis Church...

[renell]

It says its a former parking lot.. perhaps that would give you an idea if you go a lot there paul?

[Francis20]

that seems to be the lot between Cityland and Shangri La Mall. That's the only huge lot there, i guess. what do you think Paul? Let's hope this will be RP's tallest not only of residentials, but the tallest skyscraper!

[renell]

Well let's see how the design will be. 60 floors tell us a lot but not that lot Cousins of The St. Francis, Enterprise and Shang Grand, both have at least some inspiration from more classical buildings. So my guesses are it will be the inspired by classical designs too.

[thomasian]

Originally Posted by pau_p1

wow... this is nice... at least now.. another tower might catch more of the Ortigas skyline on that side... BSA is the most commonly noticed tower there.. IMO...

and they are tall.. nice!... good development... anyways.. would this rise along Shaw? between Shangri-La and Citiland?.. or that land beside Citiland across St. Francis Church...

I think it's not along Shaw in the lot between Shangri-la Plaza and Citiland.

I remember an article about this saying that it's located in the parking lot on the corner of St. Francis and Shang's Internal Ave, hence the name "The St. Francis". So the location would be beside Citiland along St. Francis Ave. across St. Francis Church.

[renell]

Any renderings, photos of this St. Francis out in the papers there? I can tell you hard research reveals nothing for me

[Francis20]

so did i Renell. probably, we could ask shang agents for the rendering. or there must be a scale model now at Shangri la Hotel and Mall.
i was thinking of that lot behind Cityland. Tho if you are coming from Megamall, you would think that both Shang and Citiland are fronting to you. But technically speaking, it's behind Citiland. Hopefully it would be as nice as Shang and Enterprise.

[rmb]

I've searched st. francis @ emporis, but there's no sign of it.
However the U/C in the Pasig section shows "Shang Grand Tower" @ 60 floors - proposed. Is this the one?

[ryanr]

Great news!! So this is the building that will be developed by kuok right?

emporis is not up to date because queetz hasnt been able to get the latest data on Philippine skyscrapers. And he doesnt have a lot of time.

[Francis20]

i think that's the one @ rmb.

[renell]

Yeah that could be it. but then again s.com (emporis) has always been late in reporting news. Francis20 and thomasian are like 20 times faster

[tyronne]

yeheyyy!

[Edmundtanso]

cool! great news....i hope to see renderings of this twin tower.

any updates in bsa twin towers? will this ever get finished? sayang naman...

[renell]

I thought all they needed for BSA Twins was the interior then to occupy it? It's been there for 5 years now... very sayang Hopefully this one won't be a BSA Twin Tower

[bustero]

by the way , passed by there this am on the way to work and they're actually digging the foundation already, as in there's a backhoe digging, looks like it's really on it's way!

[renell]

That was fast. Usually projects wait until there's a certain percentage of buyers.

[thomasian]

Wow, I hope it will be built with the same pace as that of Shang Grand, as in really fast.

[Francis20]

yeah fast! usually, the developers wait for 30% (e.g. SoMA) sell out to start off the construction of a project. some others wait for 80% (Penhurst).
with the pace of Shang's construction, most likely investors will be more confident on placing their money in this project. I can't wait to see the rendering. I want the forum to be one of the very first ones to see it.