Alphaland Tower [34F|180m|com]

[ruralvillage]

Alphaland allots P1.4B for redevelopment of Southgate tower
By Zinnia B. Dela Peña Philstar.com
December 29, 2008 12:00 AM

Alphaland Corp., chaired by former trade and industry czar Roberto V. Ongpin, is allotting P1.2 billion to P1.4 billion for the redevelopment of the 25-year Southgate tower into a retail and business process outsourcing complex.

Petron president and former finance undersecretary Eric Recto said Southgate tower, which Alphaland acquired from the Puyat family for P1.2 billion earlier this year, will offer 40,000 square meters of office space and 20,000 square meters of retail space.

Recto said the shopping mall is expected to be completed in April 2009.

The structure is located beside Dasmarinas Village on the corner of Epifanio de los Santos Avenue and Chino Roces Ave.

Alphaland is also set to launch next year Alphaland Bay City which will comprise of a marina and a hotel. The project will be situated on a 32-hectare property along Manila Bay on Roxas Boulevard.

The company recently acquired two parcels of land covering 1,200 square meters each along Ayala Avenue from Sta. Lucia Land Inc. for P820 million which the group intends to build the Ashmore Ayala Tower. The lots, beside Prudential Bank Building, were the former site of the unfinished Associated Bank building.

Aside from this, Alphaland will develop a mixed-use complex also on Ayala Avenue in pursuant to an agreement it signed with the Boy Scouts of the Philippines.

Alphaland, which is controlled by British fund manager Ashmore Group, recently raised its authorized capital stock to P1 billion from a meager P10,000 to fund its real estate development projects.

Ashmore has been a long-time investor in the Philippines with holdings in telecommunications (ISM Communications), oil exploration (Philex Petroleum Corp.), and water (Maynilad)

Ashmore was started in 1992 as part of the Australia and New Zealand Banking Group. In 1999, Ashmore became independent. As of September 2008, Ashmore had $32 billion in pooled funds, segregated accounts and structured products.

[venntro]

Originally Posted by ruralvillage

Alphaland allots P1.4B for redevelopment of Southgate tower
By Zinnia B. Dela Peña Philstar.com
December 29, 2008 12:00 AM


The company recently acquired two parcels of land covering 1,200 square meters each along Ayala Avenue from Sta. Lucia Land Inc. for P820 million which the group intends to build the Ashmore Ayala Tower. The lots, beside Prudential Bank Building, were the former site of the unfinished Associated Bank building.

Aside from this, Alphaland will develop a mixed-use complex also on Ayala Avenue in pursuant to an agreement it signed with the Boy Scouts of the Philippines.

So it seems Alphaland/Ashmore will be having 2 developments along Ayala Avenue.

[-TC-]

Originally Posted by venntro

So it seems Alphaland/Ashmore will be having 2 developments along Ayala Avenue.

The Boy Scout lot mentioned in the article is the former Sime Darby property (to the left of the crosshair). See map here:



And hey with the Ayalas developing the adjacent Zuellig property (in the crosshair), that area will really be teeming with life soon. Great news indeed!

[ruralvillage]

Ashmore readies BPO center
Manila Standard

Alphaland Corp., an affiliate of the Ashmore Group, is spending up to P1.4 billion for the redevelopment of the 25-year-old building Southgate tower into a business process outsourcing structure with retail component.

Alphaland vice chairman Eric Recto told reporters that the BPO building, which the company acquired from the Puyat family in 2007 for P1.2 billion, would offer 40,000 square meters of office and 20,000 sq. m. of retail space.

Recto said the redevelopment of the building would be completed by January this year while the retail component of the project would start April.

The BPO building is located at the corner of Edsa and Chino Roces Ave.

The company is in talks with potential BPO companies that will lease the building.

Recto said Alphaland would also develop another property in the central business district, which it acquired from Sta. Lucia Land Inc. for P820 million.

Recto said the company would construct an office building within the 1,200-sq. m. property located along Ayala Avenue. He declined to give details on the project.

The 1,200-sq. m. property, which lies beside Prudential Bank Building, was the former site of the unfinished Associated Bank building.

Alphaland recently increased its authorized capital stock to P1 billion from P10,000 to fund real estate projects.

Alphaland Holdings (Singapore) Pte. Ltd. and Filipino companies Masrickstar Corp., Boerstar Corp. and Asurestar Corp. subscribed to 249.99 million shares and paid P249.99 million.

Masrickstar will own 48 percent of the property company while Alphaland Holdings will control 40 percent.

Boerstar, Azurestar, Recto, former trade minister Roberto Ongpin, Mario Oreta and other small shareholders own a combined 12 percent stake in Alphaland.

Ashmore has investments in oil refiner Petron Corp. (90.57 percent), Philex Petroleum Corp. (49 percent) and telecommunications firm ISM Corp. (31.2 percent).

Food and beverage giant San Miguel Corp. said last week it was close to acquiring up to 50.1 percent of Petron.

The Ashmore group on Dec. 23 completed the purchase of an additional 40 percent stake in Petron from state-owned Philippine National Oil Co. in a special block sale worth P26 billion at the Philippine Stock Exchange. The acquisition increased Ashmore’s stake in Petron to 90.57 percent.

This followed a special block sale on Dec. 22 worth P6.49 billion of Petron shares, representing 10 percent of the oil company. San Miguel confirmed it was the buyer of the shares. Jenniffer B. Austria

[bustero]

I think the lot is bigger than 1200...

[-TC-]

Originally Posted by bustero

I think the lot is bigger than 1200...

Yup you are correct. Per a much earlier article quoted below, the property consists of 2 parcels of land at 1,200 sqm each for a total of 2,400 sqm.

Originally Posted by -TC-

The former site of Associated Bank Bldg. beside the old Prudential Bank Bldg. (now merged with BPI) along Ayala Ave. was sold by Sta. Lucia to Alphaland for Php820M (Php342k per sqm for the 2,400 sqm lot).

http://www.bworld.com.ph/BW040408/content.php?id=044

Vacant Ayala Avenue lot sold to Alphaland for P820M

Ruby Anne M. Rubio
BusinessWorld
April 4, 2008

LISTED Sta. Lucia Land, Inc. has agreed to sell a total of 2,400 square meters of land beside the Prudential Bank Building along Ayala Avenue to Alphaland Corp. for P820 million.

A contract to sell and buy was entered into last April 1, Sta. Lucia Land corporate secretary Patricia O. Bunye said in a regulatory filing.

Alphaland remitted a P100 million downpayment with the execution of the contract.

The balance of P720 million will be paid on May 31, Sta. Lucia Land said.

"The corporation intends to use the funds generated from the sale of its Ayala properties primarily to finance the corporation’s real estate projects in Quezon City, Cavite and Iloilo among others," Ms. Bunye said.

The consideration for the sale, she said, was based on the current fair market value of the Ayala Avenue properties as negotiated between Sta. Lucia Land and Alphaland.

Yesterday, Sta. Lucia Land shares closed unchanged at P1.16.

The company formerly known as Zipporah Realty Holdings, Inc. held two parcels of land at 1,200 square meters each. Under the deal, it agreed to sell and transfer all of its rights, title and interest in the properties.

The property is the former site of the unfinished Associated Bank building, which is now a vacant lot at the northeast side of Ayala Avenue between Herrera Street and Paseo de Roxas.

Last year, the Securities and Exchange Commission approved the amended articles of incorporation and bylaws of Zipporah Realty.

As Sta. Lucia Land, it will engage in real estate development, with projects such as subdivisions, industrial parks, recreational farm lots, golf courses, and memorial parks.

It will also engage in vertical developments such as residential villas, townhouses, residential, office or mixed-use condominiums, commercial or office buildings, specialty or build-to-suit buildings, hotels, and shopping malls.

The company will have an authorized capital stock of P2 billion with a par value of P1. It will then increase its authorized capital stock to P16 billion divided into 16 billion shares to pay off debts by its parent company.

"With the extensive corporate reorganization of Sta. Lucia Land, Inc., the company aims to become one of the country’s leading developers of real estate projects. The company has outlined strategies to reinvent and reinvigorate the company’s operation to be an active player in the real property sector," the company said earlier.

BusinessWorld earlier reported that Alphaland had obtained approval to increase its authorized capital to P1 billion from P10,000 to increase funds for projects.

Alphaland Holdings (Singapore) Pte. Ltd. and Filipino companies Masrickstar Corp., Boerstar Corp. and Asurestar Corp. subscribed to 249.99 million shares and paid P249.99 million.

The company’s new authorized capital stock will consist of one billion shares with a par value of P1 each. Masrickstar will own 48% of the property company while Singaporean firm Alphaland Holdings will control 40%.

Boerstar, Azurestar, former Finance Undersecretary Eric O. Recto, former trade minister Roberto V. Ongpin, Mario A. Oreta, Rodolfo Ma. A. Ponferrada, Josephine A. Manalo and Ms. Torres own 12% of Alphaland.

In 2007, Alphaland bought the unfinished 20-storey building beside Dasmarinas Village on the corner of Epifanio de los Santos Avenue and Chino Roces Avenue for P1.2 billion

[[dx]]

Hi guys,

Found this in alphaland's website. Is it the same project?

The alphaland Tower

Rising at the heart of the Makati Central Business District, The Alphaland Tower will be a new landmark building to service the growing demand for high end corporate offices in the Philippines. The Alphaland Tower will be the most modern of only five premium-grade office buildings in the district.

The 34-storey tower of more than 48,000 square meters of floor space sheathed in glass will house the corporate headquarters of Alphaland Corporation. The structure is designed by world renowned Wong and Ouyang of Hong Kong.

Location:



Construction begins end-2010
Completion by 1st quarter of 2013

No renderings yet

Source

[diz]

Wow. Alphaland has got to be my favorite developer of all time.

[in_a_rush]

Originally Posted by diz

Wow. Alphaland has got to be my favorite developer of all time.

me too. i think i am starting to love them since i saw their website. and with the quality of their first project (Southgate tower) i am confident with their upcoming projects! exciting!

[queetz@home]

Well, at 34 floors its actually a downgrade to the original 38 storey Westmont Bank Tower that was suppose to rise on that site but was cancelled since the bank itself went under during the Erap crisis.



But I guess we can't complain. Anything is better than that gap between Madrigal and the old PS Bank that's been there for over a decade. And 34 floors ain't that bad. I just hope they really build it.

[Ph Man]

Yes, better than nothing. And this page shows part of the rendering:
http://alphaland.com.ph/tower/index.html

Afterall, it might be as tall as the original plan.

[zandro888]

Originally Posted by -TC-

The Boy Scout lot mentioned in the article is the former Sime Darby property (to the left of the crosshair). See map here:



And hey with the Ayalas developing the adjacent Zuellig property (in the crosshair), that area will really be teeming with life soon. Great news indeed!

that right, this location would surely welcome new developments. Makati is getting really busy and congested, thats why they are expanding to nearby areas

[IslandSon.PH]

Rendering







Location: Makati City
Developer: Alphaland Corporation
Completion date: 2010
Consulting Architect: Wong & Ouyang, Hongkong
Consultants:
Structural Aromin & Sy + Associates, Inc. (ASAI)
Electrical RA. Mojica & Partners (RAMP)
Mechanical LR Punzalan & Associates
Plumbing / Fire Protection NBF Consulting Engineers
Construction Manager RM Cabanela Construction & Management Corp.

The Alphaland Makati Tower is the first Grade A office tower to rise along Ayala Avenue, Makati's Wall Street, since the last wave of major construction in the 90’s. The tower evokes a strong sense of height with its white vertical mullions, and its undulating façade, both in front and at the rear. The Ayala entrance is acknowledged with a cantilevered canopy that flows into a 10m high lobby. Security will be state of the art, provided at all access points of the building.

[tyronne]

Wow! Very nice!

[Edmundtanso]

Very Nice!!!

[Mojo Jojo]

Alphaland just turned into my newest favorite developer in the country! thank you for setting the bar high. woohoo!

[darknyt1]

Nice glassy and tall. It could be better if at least 40 storeys high. It has similarities in frontal view with GT with its angled point. Let's start building them up!

[darknyt1]

The angled point was on sides. Correct me for that. That would be interesting. At 34 storeys plus the angled sides, it would make it much taller. I thought it would be along Ayala avenue near PBCom tower from the previous Westmont tower site, they change it?

[queetz@home]

Interesting design and definitely much better than the original Westmont Bank Tower....but completion date 2010?

I realize the basement is already done but unless they start construction right and set a speed record for the fastest 34 storey skyscraper ever erected and finished up, I dunno if that building will be appearing in the skyline anytime soon...

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