Federal Land set to start P20-B Ft Boni complex
Federal Land Inc., the property arm of the Metrobank Group, will start construction of its planned P20 billion mixed-use complex in
Ty said the whole project, which will include the development of residential, office, and retail components, will take 10 to 15 years to complete.
The 66-story building, touted to be the country’s tallest will house a five star-hotel which will make available 350 to 400 rooms. It is slated for completion in 2012.
The group is now in talks with several foreign hotel operators including the Hyatt Group which operates several chains of hotels under the Hyatt Regency, Grand Hyatt and Park Hyatt brands, and expects to close a deal in the next few months.
As for the retail component of the project, Ty said
Unfazed by the global credit crunch,
“I think there will still be demand. Consumers’ appetite may have simmered a little but its just a matter of coming up with the right product. And our strategy is to ensure high quality for our projects,” Ty said.
Aside from this, Fedland is developing a P4-billion three tower complex within the 40-hectare Bay Garden community in
The project will be funded using internally-generated cash from pre-selling and borrowings from banks.
Aside from this,
Estimated to cost P4 billion, the Grand Midori will offer about 622 residential units priced at between P3.4 million and P16 million, targeting the middle-to-high end market.
The first of the two 38-storey twin towers is expected to be completed in 2012. Construction will begin early next year.
To market its projects abroad,
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