Century, Japan partner start P4.5-B project

Property developer Century Properties Group (CPG) and Japanese conglomerate Mitsubishi Corp. broke ground for the P4.5-billion office property Forbes Media Tower, the eighth skyscraper to rise in Century City Makati.

“The Forbes Media Tower aims to become an address of choice for both multinational as well as leading BPO (business process outsourcing) corporations looking to participate in the booming BPO sector, which generated $21 billion and now employs 1.3 million people, serving as a key growth catalyst,” CPG chief operating officer Marco Antonio said in a statement.

“The demand for business space in Makati will always be present and it is an important challenge to create a new town concept in order to accommodate a very crowded old area. Tokyo is continually facing such a challenge and Makati now started this stage with limited land available for development. It is our honor to join this development with Century Properties Group,” said Yoshio Amano, general manager for Mitsubishi Manila.

The 35-storey Forbes Media Tower will have a total gross floor area of around 95,000 square meters. The development is expected to be completed by 2019.

“I’m particularly proud and honored with our partnership with Mitsubishi. We have very good chemistry. We have a shared vision for the Forbes project, and we value their contributions to this development with their decades of experience in doing projects in the Philippines,” CPG chair Jose Antonio said.

“This is a historic and groundbreaking moment for Forbes as we extend our brand into the global real estate development market. Doris Dumlao-Abadilla