Federal Land plans second tower in Bonifacio

By Zinnia B. Dela Peña, The Philippine Star

Posted at Feb 13 2012 08:08 AM | Updated as of Feb 13 2012 04:08 PM

MANILA, Philippines - Following the success of its New York inspired luxury residence Parkwest Tower, Federal Land Inc. is planning to build a second tower within the 10-hectare integrated community in the northern portion of Bonifacio Global City.

The new tower to be called One Bloomberg Place is part of a series of planned cluster condominiums designed for the middle to upper-mid market. This will be followed by the third tower to be called One Liberty Place.

Both towers, each 50-stories high, will make available 896 residential units each.

Parkwest Tower is a 41-story tower that had its pre-selling launch in mid-2011.

Slated for completion by 2015, the project is one of two current developments in Bonifacio North CBD. The other is the $300-million Metrobank/Grand Hyatt project, a mixed-use development comprising premium office floors, a luxury Grand Hyatt Hotel featuring 441 rooms, and first-class branded residential apartments sharing a common podium that will be occupied by high-end retail establishments.

The Metrobank/Grand Hyatt project will have two towers, the first of which will be a 66-story structure envisioned to be the country’s tallest skyscraper. The   buildings lower half will be dedicated to office floors for sale or long-term lease while the upper half will be occupied by the Grand Hyatt Hotel.

The second tower consists of a 45-storey first class residential building that will house 248 apartment units with a total saleable area of 39,271 square meters. 

The integrated community is a joint venture between Federal Land and Orix Risingsun II, a company controlled by Japan’s Orix Corp.

Federal Land is currently implementing a comprehensive growth plan to fully capitalize on its landbank, expertise, and market recognition. It intends to increase its coverage of the growing middle market while retaining its strong position in the high-end market.

While it continues to strengthen its leadership in these markets, Federal Land plans to expand sales to the broader middle market.