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| The Dragon King |
by Margaret Jao-Grey
BusinessMirror | July 30, 2010 |
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Excerpt from BusinessMirror
Although Lucio Tan has a large land bank in Makati, thanks to Philippine Airlines and Philippine National Bank, it seems its property group Eton will be focusing a lot of time this year on the Centrist property or the old government printing office in Quezon City. The main reason is that in terms of cost, it’s the company’s biggest land asset at P4 billion.
The 12-hectare property will be developed like Ayala Land’s Glorietta 20 years ago. Of the 12 hectares, 4-5 hectares will be allocated for retail. About 1,000 square meters will be an events place called Elements. Eton’s contract with SM Hypermart ends in 15 years.
Interestingly, The master plan—which calls for seven BPO buildings, eight to 12 residential condominiums and one business hotel—will be open to a design competition.
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