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RP’s tallest building to rise in Taguig City's Fort Bonifacio
Jun 20, 2008
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.