Thursday, May 28, 2015

PSE to sell Makati and Ortigas offices


Set to move to a unified headquarters in Bonifacio Global City in 2016, the Philippine Stock Exchange (PSE) has issued plans to sell their offices in Makati and Ortigas.

PSE currently operates two trading floors – one at the Philippine Stock Exchange Center, formerly known as Tektite Towers, in the Ortigas business district; the second at the PSE Plaza Ayala Triangle, in Makati's central business district.

PSE President Hans Sicat issued that PSE means to sell the offices, but that they may also opt to rent them out instead.

Meanwhile, PSE is eyeing the big move to take place late 2016. Up to four floors (out of 27 overall) of the new headquarters has been built, according to Roel Refran, PSE chief operating officer. 

Earlier this year, PSE bought units in the building from Fort Bonifacio Development Corp. (FBDC) costing more than P805.3 million. The building itself costs P3.5 billion, with 29,000 square meters of leasable space, 19,900 of which will be relegated to the headquarters.

"We are pleased with the developments in this transaction with FBDC. The transfer to Fort Bonifacio will afford PSE operational efficiencies and support the growth of the company in the coming years. We look forward to calling the fast-growing BGC our home soon,” Sicat added.

The integrated headquarters is located on a 3-hectare mixed use block known as One Bonifacio High Street, a joint venture between Ayala Land Inc., Greenfield Development, and FBDC. Presently under development, the block will also house a luxury residential tower as well as upmarket establishments for dining, retail, entertainment, and leisure, among them a 5-star Shangri-La Hotel and a shopping mall.


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