Property firm sets P6-B capex for 2017 | Inquirer Business

Property firm sets P6-B capex for 2017

/ 01:04 AM June 21, 2017

Developer Shang Properties Inc. has set aside P6 billion for capital expenditure for 2017, mainly to fund ongoing residential and commercial property projects.

Part of the P6-billion budget will be used for the construction of the company’s new residential project, The Rise in Makati, company vice president and financial controller Kin Sun Ng said in an interview after the firm’s stockholders’ meeting.

ADVERTISEMENT

Part of the budget will be for the expansion of the Enterprise Center, its Grade A office along Ayala Avenue in Makati, and the renovation of its facilities.

In 2016, Shang Properties’ capital spending was at about P7 billion, company marketing director Milen Treichler said.

FEATURED STORIES

Shang Properties residential property projects cater to middle-income and high-end markets. These projects are Horizon Homes, One Shangri-la Place, Shang Salcedo Place and the upcoming, The Rise Makati. It also offers office leasing in The Enterprise Center and is also into the mall and retail business through Shangri-la Mall Plaza.

Meanwhile, the company’s business outlook for this year remains positive. —ODELINNE JAN LINA

Read Next
Don't miss out on the latest news and information.

Subscribe to INQUIRER PLUS to get access to The Philippine Daily Inquirer & other 70+ titles, share up to 5 gadgets, listen to the news, download as early as 4am & share articles on social media. Call 896 6000.

TAGS: Business, Developer Shang Properties Inc., property firm
For feedback, complaints, or inquiries, contact us.


© Copyright 1997-2022 INQUIRER.net | All Rights Reserved

We use cookies to ensure you get the best experience on our website. By continuing, you are agreeing to our use of cookies. To find out more, please click this link.