MANILA -- Property developer Primex Corporation said Wednesday it will spend PHP3.6 billion for the construction of its 50-storey office tower located at the Greenhills commercial district in San Juan City over the next four to five years.
In a disclosure, Primex said it has kicked-off the construction as it broke ground for the Primex Tower.
“With the project, the company is looking to take advantage of increasing demand in the office and hotel sectors,” said Primex Chairman and President Ernesto Ang. “The growth in the sector will be quietly led by knowledge process outsourcers.”
To be developed by its subsidiary Primex Realty Corporation, the Primex Tower will rise on a 1,944-square-meter corner lot bounded by EDSA, Connecticut Street and Florida Street.
Projected to be the highest building in the city, the tower will have 37 floors of office space and 12 floors of above-ground and basement parking
It will have about 41,000 sqm of total leasable office space, ranging from 200 square meters to 300 sqm. in size.
Meanwhile, Primex executive vice president Karlvin Ang shared that they continue to draw attention from other leading local and foreign developers to jointly develop the rest of their extensive land bank.
“These locations – in Malabon, Mandaluyong, Quezon City, and San Juan in Metro Manila, and surrounding areas like Tagaytay – are showing equally exciting growth potential,” he said. (PNA)
