ARTICLE SERVICES            Reprint this article     Print this article       Send as an e-mail     Send Feedback       Post a comment       RELATED STORIES   Atlas ships copper concentrate to China MPIC selling 51% stake in Landco San Miguel takes option on Petron Atlas ships first copper to China Meralco wants to resume trading 28-M Xbox 360s sold by end-2008 Financial woes humble New York Times San Miguel inks deal to buy Petron stake Yahoo! bringing Internet to Samsung TVs China wants new global monetary system Solons caution gov’t on privatization More Stories » Business Aim to retire with no debts PLDT taps Meralco for new venture Corporate war comes to Philex RCBC bent on expansion EDC to raise P18B more April exports fall 35.2% on year Wall Street crook to earn pennies Piltel transforms into holding firm Plan your fun-spending this summer Money lessons you won't learn in class Business New mobile network offers lowest call rate GMA 7 expanding overseas Thrift bank up for sale BSP wants cover for forex losses S&P affirms RP ratings, stable outlook Focus backs out of Tindalo venture MetroPac heats up race for SCTEx Hope for the farmers in 2010 Mobile money exchange scheme launched ADB sees poverty on the rise in Asia QC judge told issue arrest order vs PBA cager 5 projects get BOI perks   Business Most Read RSS Diamond Hotel Philippines Look for: Lourdes Vera Cruz Tel. No.: 528.3000 loc. 8414 Mobile: 0915.434.3010 (Lourdes) Fotoloco Rent Fotoloco for your parties! Call 453.3417 / (0917) 851.0228

DMCI Holdings Inc. said its DM Consunji Inc. construction subsidiary had signed a P4.9-billion contract to build a condominium building and a luxury hotel in the Makati business district.

The contract is with KHI-ALI, a joint venture of Philippine property giant Ayala Land Inc. (ALI) and Dubai-based hotel and resort developer Kingdom Hotel Investments (KHI), DMCI said in a disclosure to the stock exchange, for construction of a 300-room Fairmont Hotel and Raffles Suites and Residences — a 30-suite Raffles Hotel and 189 Raffles-branded private residences.

KHI is a hotel and resort acquisition and development company focused on high-growth emerging markets such as the Middle East, Asia, and Africa. It has interests in 29 property projects in 20 countries: 22 hotels and resorts, and seven hotels and resorts either under construction or in the initial stages of development.

ALI announced last year the plan to develop a luxury hotel complex in Makati in partnership with KHI. Elizabeth S. Lacson; edited by INQUIRER.net

• Atlas ships copper concentrate to China
• MPIC selling 51% stake in Landco
• San Miguel takes option on Petron
• Atlas ships first copper to China
• Meralco wants to resume trading
• 28-M Xbox 360s sold by end-2008
• Financial woes humble New York Times
• San Miguel inks deal to buy Petron stake
• Yahoo! bringing Internet to Samsung TVs

• China wants new global monetary system
• Solons caution gov’t on privatization