Property developer Century Properties Group Inc. plans to build the world’s first Forbes-branded commercial office building in its Century City hub in Makati City.
CPG announced Wednesday its team-up with Forbes Media LLC to build Forbes Media Tower, which is expected to be part of a network of office property buildings around the world designed to “serve the world’s business leaders by providing an environment to conduct business with premium amenities.”
The plan is for Forbes Media Tower in Makati to offer about 60,000 square meters of premium office space, which will be offered for sale or for rent starting in the first quarter of 2013 to business owners, entrepreneurs and companies. In addition to office space, the building will provide meeting and event space with plans for a fine dining restaurant, fitness center and exhibition facilities. Target project completion is between 2017 and 2018.
“Century Properties is honored to be working with Forbes Media for this project. Forbes is synonymous with success and business, and this partnership fits perfectly with our distinguished portfolio of local and internationally renowned brand partners,” CPG president Jose E. B. Antonio said in a statement. “It is also an honor for us that Forbes has recognized the Philippines as one of Asia’s bright spots and showed its confidence by choosing Makati, Metro Manila, as the first site of its landmark business tower.”
“We’re very pleased to be collaborating with Century Properties for the first Forbes Media Tower as we extend our brand into the global real estate development market. Forbes has always been an authoritative resource for the world’s business leaders, and this tower further reinforces our long-standing mission,” said Mike Perlis, president of Forbes Media. “The Philippines, with its rapidly growing market and strong relations with the US, is the perfect location to launch this effort.”
Century City, where the tower will rise, is a mixed-use development comprised of premium residences, office buildings and the Century City Mall. It is located within an IT (information technology) zone, which will allow accredited locators to benefit from incentives from the Philippine Economic Zone Authority.
“This is a historic and groundbreaking moment for us. It is just the start of our plan for an expansion into Forbes real estate development projects around the world,” said Miguel Forbes, president of Worldwide Development of Forbes Media, who is spearheading this initiative. Doris C. Dumlao