SkyscraperCity banner

1 - 20 of 61 Posts

·
Banned
Joined
·
28,661 Posts
Discussion Starter #1 (Edited)
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.

--- SNIPPED ---

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
 
  • Like
Reactions: butter

·
Registered
Joined
·
344 Posts
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.
 

·
Registered
Joined
·
1,043 Posts
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.
 

·
#TeamFairview
Joined
·
3,369 Posts
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:
 

·
Moderator
Joined
·
8,556 Posts
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

 

·
Registered
Joined
·
20 Posts
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?
 

·
Registered
Socially functional INTP
Joined
·
1,882 Posts
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.
 

·
Registered
Joined
·
40 Posts
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.
 
1 - 20 of 61 Posts
Top