[InfinitiFX45]

SM buys airport casino lot
Group also acquiring 10-hectare Manila Bay property of Ashmore
By Doris Dumlao-Abadilla | Philippine Daily Inquirer | Thursday | April 26, 2018 | 05:22 AM

Property giant SM Prime Holdings has acquired the 11-hectare property where the old Casino Filipino complex once stood near the Ninoy Aquino International Airport in Parañaque for around P6 billion, planning to transform the site into a new residential hub given the strong demand for urban residential space.

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Bulk of the residential inventory to be launched this year will come from the Parañaque project. The 11-hectare property—formerly leased to the state-owned Philippine Amusement and Gaming Corp. (PAGCOR) until the airport casino was shut down due to snowballing losses in 2014—was acquired by SM Prime last year from the Mercado group, SM Prime president Jeffrey Lim said in an interview at the sidelines of the company’s stockholders’ meeting on Tuesday.

The former casino property in Parañaque had been bought for roughly P50,000 per square meter or roughly P6 billion, SM Investments chair Henry Sy Jr. estimated.

Read More: Source

 

[rogerph2015]

For your information: This was once the original site of Duty Free Philippines long before the Philippine Amusement and Gaming Corporation or PAGCOR took over and converted it into a casino. With it closed 4 years ago, the SMDC had acquired it's lot. So, what will they build there? A huge mall that rivaled Duty Free Philippines or residences site? We'll find out soon enough.

 

[QuinnCH]

Sana gumawa ng duty free version ang SM sa area.

 

[ArchitectValencia]

For your information: This was once the original site of Duty Free Philippines long before the Philippine Amusement and Gaming Corporation or PAGCOR took over and converted it into a casino. With it closed 4 years ago, the SMDC had acquired it's lot. So, what will they build there? A huge mall that rivaled Duty Free Philippines or residences site? We'll find out soon enough.

It's really uncomftable to live there though.

 

[pinoyako2010]

Sana lang hindi SM Mall ang itayo dito, there's already two SMs along the same highway where this property is, SM City Sucat and SM BF Parañaque. Overkill na ang tatlo :lol:

 

[thethirtysixth]

Marcos Highway is shaking. Henlo Marikina, Masinag and Antipolo haha

 

[jcdak]

It's really uncomftable to live there though.

It will be affordable housing. According to the article, SM plans to build 15,000 units at an average of P3 million each. It will likely be at P100,000 per sqm, according to the article.

 

[pinoyako2010]

Marcos Highway is shaking. Henlo Marikina, Masinag and Antipolo haha

Isama na natin si Quirino Highway, with SM Fairview, SM Novaliches, and SM San Jose Del Monte (though kilometro naman ang layo nila sa isa't isa :lol

 

[walrus357]

sa anong Hiway 'to? SM North, Megamall, SM Makati and MOA..:lol:

 

[Norbskie]

sa anong Hiway 'to? SM North, Megamall, SM Makati and MOA..:lol:

Highway 54 sir.

 

[ajosh821]

PARAÑAQUE | Gold Residences + Office (POGO Land) [mix]

Per recent posts on Facebook, this project dubbed as POGO Land due to proximity in the airport and a legacy to the former Casino Filipino as the former occupant.

All photos by SM Shell Residences.

Gold Offices

Gold Residences, Offices, Showroom

Masterplan

Project Site

 

[ajosh821]

^^

 

[pinguuu]

Was looking for a thread to be made since kanina as one of my friends relayed the message to me.

Mga master, at an initial price of 6.1-8M for 1BR, is this a good buy for investment?

 

[LhexiMont]

So this is the huge fenced lot of SMDC near Pascor Drive.

 

[tambay328]

Looks too boxy tho.

 

[azumiii]

Was looking for a thread to be made since kanina as one of my friends relayed the message to me.

Mga master, at an initial price of 6.1-8M for 1BR, is this a good buy for investment?

Is the 1BR same with Pasay projects at 27 sqm? If yes, it is 226K per sqm.

You can find assume balance units in MOA area for 180K per sqm. Turnover next year.

 

[maczilla]

Is this the old Duty Free Philippines of yore?

 

[matrix_dot_ca]

who wants to hear plane noise every few minutes? Traffic noise on the ground is more than enough.

 

[d3ncio]

Is the 1BR same with Pasay projects at 27 sqm? If yes, it is 226K per sqm.

You can find assume balance units in MOA area for 180K per sqm. Turnover next year.

normally san pwede maghanap ng mga assume balance units in MOA area?

 

[Deco79]

This is the former Casino Filipino lot.

I'm lucky that I have invested a condo along Sucat road 10 years ago. Market value has now risen 4x.