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CCDCII – Forbes Media Tower – Metro Manila - Project Profile

CCDCII – Forbes Media Tower – Metro Manila - Project Profile

  • July 2017
  • 6 pages
  • ID: 3517983

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Synopsis
"CCDCII – Forbes Media Tower – Metro Manila - Project Profile" contains information on the scope of the project including project overview and location. The profile also details project ownership and funding, gives a full project description, as well as information on contracts, tendering and key project contacts.

The "CCDCII – Forbes Media Tower – Metro Manila - Project Profile" is part of Timetric’s database of 82,000+ construction projects. Our database includes a 10+ year archive of completed projects, full coverage of all global projects with a value greater than $25 million and key contact details for project managers, owners, consultants, contractors and bidders.

Summary
Century City Development II Corporation (CCDCII), a joint venture between Mitsubishi Corporation and Century Properties Group Inc. is undertaking the construction of an office tower in Makati, Metro Manila, the Philippines.

The project involves the construction of a 60,769m2, 35-story office tower on 0.36 of land. It includes the construction of conference rooms, meeting rooms, a cafeteria, parking and related facilities, and the installation of elevators, safety and security systems.

On September 8, 2015, Mitsubishi Corporation (Mitsubishi) and Century City Development Corporation (CCDC), a subsidiary of Century Properties Group, Inc signed a joint venture agreement for the project.

Under the agreement, both will develop, lease out and maintain Forbes Media Tower through CCDCII, of which CCDC and Mitsubishi have 60% and 40% ownership, respectively.

CCDCII will finance the project through US$51 million of equity from CCDC and Mitsubishi, and a 10 year, US$49 million senior loan granted by the Bank of Philippine Islands.

On November 12, 2015, CCDCII and Mitsubishi has signed a US$47 million loan facility with Bank of the Philippine Islands (BPI) as the lender.

On February 4, 2016, groundbreaking ceremony held.

Construction work is underway and scheduled to be completed by 2019.

Scope
The Forbes Media Tower project involves the construction of a 60,769m2, 35-story office tower on 0.36 of land in Makati, Metro Manila, the Philippines.

The US$100 million project includes the following:

1. Construction of conference rooms
2. Construction of meeting rooms
3. Construction of a cafeteria
4. Construction of parking facilities
5. Construction of related facilities
6. Installation of elevators
7. Installation of safety and security systems

Reasons To Buy
• Gain insight into the project.
• Monitor the latest project developments.
• Identify key project contacts.

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