Sunday 22 July
Powered by Ajaxy
Jul 11, 2018 @ 10:50

Primex builds P3.6B office tower in San Juan

 

Listed property developer Primex Corp. is spending P3.6 billion for the construction of a 50-storey office tower at the booming Greenhills commercial district.

Envisioned to be the tallest building in San Juan, Primex Tower will bring to the market 41,000 square meters of total leasable office space, ranging from 200- 300 sqm in size. It is located on a 1,944 square meter corner lot bounded by Edsa, Connecticut st. and Florida st.

Construction of the project is expected to take four to five years.

Prime chairman and president Ernesto O. Ang said the company was “looking to take advantage of increasing demand in the office and hotel sectors”, citing a recent study by Colliers International Philippines that estimated an average increase of 10 percent per annum in rents across submarkets despite an increasing vacancy.

“The growth in the sector will be quietly led by knowledge process outsourcers (KPO),” he added.

He said despite the increase in supply, Primex Tower and other similar projects would be attractive as demand shifts from the old structures to the new higher quality buildings.

Tags: , , , ,

Related Stories
Suntrust Properties Inc., a wholly-owned subsidiary of Megaworld Corp. has acquired 42-year old property firm
Ride-hailing firm Grab Philippines just launched its dedicated food delivery service in its bid to
The infrastructure arm of conglomerate San Miguel Corp. has submitted an unsolicited proposal to the
MRail Inc., a unit of the Pangilinan-led Metro Pacific Investments Corp., and Multi-Scan Corp. bagged


 

Trending News

Recommended on sister sites

Copyright © 2018 Bilyonaryo - Latest news on the richest Filipinos and Family Business.