![]() ![]() ![]() ![]() This project will be CPG’s first venture in the office and hotel property segments in Fort Bonifacio, a former military camp. The increase in BGC land values outpaced the uptick in Makati (+5 percent) and Ortigas (+4 percent) in 2012. This move seeks to open up a recurring revenue stream for CPG while taking advantage of the buoyant property market in BGC, where land values have risen at a much faster rate than in the Makati and Ortigas central business districts.īased on a research by property consultants Colliers International Philippines, land values in BGC rose by a hefty 28.1 percent last year to an all-time high P237,000 per square meter and are seen to increase to P250,000/sqm by the fourth quarter of 2013. “This project is part of CPG’s medium-term plan to expand its portfolio to include commercial and tourism developments,” the younger Antonio said. Antonio said in a press statement.ĬPG chief finance officer Jose Carlo Antonio added that the office and hotel project in BGC would cost at least P1 billion initially. “ACC shall form a new corporation with CPGI to construct two towers, one for commercial offices and the other for a hotel, with an expected gross floor area of 30,000-sqm,” CPG Executive Chairman of the Board Jose E.B. The 3,286-square-meter-lot is owned by the Armed Forces of the Philippines-Mutual Benefit Association Inc. is breaking into Bonifacio Global City’s burgeoning office and hotel property markets in partnership with the Alvarez group’s Asian Carmakers Corp (ACC).ĬPG, led by the Antonio family, expects to invest an initial P1 billion in a two-tower development on a property bounded by the 3rd and 4th Avenues and 27th streets in BGC. MANILA, Philippines - Property developer Century Properties Group Inc. ![]()
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