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Singapore-listed Keppel Land announced Monday (13 October) that it will be expanding its commercial portfolio in the Philippines with the S$336 million expansion of its existing mixed use development in Manila.
The expansion works will include the development of a 42-storey office building and an extension of The Podium, an existing five-storey retail component in the Ortigas central business district.
The new office tower, which will be sited above the retail mall, will offer a net lettable area (NLA) of over 958,000 sq ft of premium grade office space, and is scheduled for completion in 2019. Meanwhile, the expansion of the retail mall will add over 366,000 sq ft of retail space, bringing the total retail NLA to over 538,000 sq ft when completed in 2016.
The project is jointly developed by Keppel Land, through Keppel Philippine Properties, and the Philippine’s SM Group, through its banking arm Banco de Oro (BDO). Keppel Philippines holds a 40 percent stake in the project.
Nikki De Guzman, Editor at CommercialGuru, wrote this story. To contact her about this and other stories, email nikki@propertyguru.com.sg
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