Jun 29, 2012 (The Manila Times – McClatchy-Tribune Information Services via COMTEX) — Philippine real-estate giant Ayala Land Inc. (ALI) launched its P30-billion investment in Bonifacio High Street in Global City, which includes the new Shangri-La Hotel, new Philippine Stock Exchange (PSE) building and a high-rise residential development called "The Suites."
The P30-billion worth
Bonifacio High Street, a joint project of Ayala Land, Evergreen Holdings, and Fort Bonifacio Development Corp. The Suites has a development cost of P9.9 billion and the new PSE building will cost P3 billion to P4 billion.
ALI President Antonino Aquino said that the Philippine economy has never been progressive and this is a good sign to start large projects.
"Ayala Land’s aggressiveness
Philippines’ good economy, which outshined the crisis all over the world," he said
ALI’s discussion with PSE has also progressed well, Aquino added. The real estate company believes that the PSE’s decision to move to Global City, which is located in Taguig City, was probably driven by the good trend of the economy during the past few weeks.
ALI estimates the PSE building will be finished in late 2016, or early 2017.
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