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Gokongwei, Ty team up for Pioneer condo project

MANILA, Philippines—Taipans John Gokongwei and George Ty have teamed up in a real estate business for the first time as their respective property arms will soon launch a two-tower residential condominium joint venture in Pioneer Street, Mandaluyong City.

The new project, called Axis Residences, will be developed and marketed by Gokongwei-led Robinsons Land Corp. on a 21,000-square meter lot owned by the Tys’ privately held Federal Land, RLC announced on Tuesday.

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The first tower will be an all-deluxe-unit development — with an option to combine units — consisting of 42 floors, which will include three podium levels for parking. Deluxe units have areas ranging from 23 to 27 square meters and will be sold at an average price of P1.9 million to P2.2 million per unit—translating to more or less selling price of P85,000 per square meter.

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TAGS: Business, Housing & Urban Planning, Real Estate
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