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Chinatown/Binondo & PNR-Tutuban... POPI, ALI, MEG etc

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PNR (Philippines Nat'l RR), ALI, POPI and Tutuban/ Chinatown




Is something Big coming to the Tutuban area?

Might this benefit Chinatown, which is just South of the station


Ayala bought control of POPI (Aug. 2015) - Why?

The answer may lie in the big rail project, and the development opportunities it will create






$2 Billion Elevated RR coming
Japan has promises a USD-2 billion on package for development & construction of the Philippines biggest ever rail project
+ Construction of first phase of the North-South Commuter Rail (NSCR) Project, a 36.7 km narrow-gauge elevated railway from Malolos, Bulacan to Tutuban, Manila
+ Construction is planned to start in Q1-2017, and end in 2020, and become operational in that year
+ The train system is expected to transport 340,000 travelers every day (!)
> http://www.manilalivewire.com/2015/08/japan-granted-2billion-loan-for-tutuban-malolos-railway-train-project/



DEVELOPERS with a Chinatown connection:


POPI / Prime Orion Phil. Inc ... All : 5-yr: 2-yr: 12-mo: 10-d : 3/24/16: P1.98 / 12/4/17: P2.05 + 3.53%



ALI / Ayalaland ... All : 5-yr: 2-yr: 12-mo: 10-d : 3/24/16: P35.85 : 12/4/17: P41.75 +16.5% / ALIvsPOPI : All : >'07



MEG / Megaworld ... All : 5-yr: 2-yr : 12-mo : 10-d : 3/29/16: P4.15 / 12/4/17: P5.15 +24.1% / AGI : All



FLI / Filinvest Land ... All : 5-yr: 2-yr: 12-mo: 10-d : 3/29/16: P1.78 : 12/4/17: P1.80 +1.12% / FDC : All



ALHI / Anchor Land ... All-Data : 5-yr: 2-yr: 12-mo: 10-d : 3/29/16: P7.77 : 12/4/17: P10.98 + 41.3%



Qtr /Year : -LAND : CapVal : CV/ali : -ALI- : -POPI- : Ali/P : -MEG- : -FLI-- :
4Q /2011 : 000.0k : 100.0k : r6.60 : 15.16 : P0.44 : r34.5 : P1.70 : P0.99 :
1Q /2012 : 284.1k : 114.1k : r5.50 : 20.75 : P0.51 : r40.7 : P1.96 : P1.29 :
2Q /2012 : 284.6k : 115.4k : r5.34 : 21.60 : P0.46 : r47.0 : P2.19 : P1.28 :
3Q /2012 : 289.1k : 116.0k : r4.86 : 23.85 : P0.49 : r48.7 : P2.23 : P1.36 :
4Q /2012 : 291.8k : 118.0k : r4.46 : 26.45 : P0.55 : r48.1 : P2.77 : P1.49 :
1Q /2013 : 298.1k : 123.8k : r3.79 : 32.70 : P0.70 : r46.7 : P3.89 : P1.98 :
2Q /2013 : 304.2k : 128.7k : r4.23 : 30.40 : P0.55 : r55.3 : P3.30 : P1.70 :
3Q /2013 : 322.4k : 132.0k : r4.84 : 27.25 : P0.54 : r50.5 : P3.26 : P1.60 :
4Q /2013 : 341.5k : 134.9k : r5.45 : 24.75 : P0.41 : r60.4 : P3.24 : P1.41 :
1Q /2014 : 353.8k : 136.5k : r4.57 : 29.90 : P0.52 : r57.5 : P4.13 : P1.44 :
2Q /2014 : 366.4k : 138.1k : r4.53 : 30.50 : P0.57 : r53.5 : P4.50 : P1.63 :
3Q /2014 : 435.0k : 142.8k : r4.09 : 34.95 : P0.71 : r49.2 : P5.03 : P1.58 :
4Q /2014 : 440.0k : 144.5k : r3.83 : 33.70 : P0.69 : r51.8 : P4.68 : P1.53 :
1Q /2015 : 443.8k : 147.4k : r3.83 : 38.50 : P0.68 : r56.6 : P5.43 : P1.80 :
2Q /2015 : 452.5k : 149.0k : r3.99 : 37.30 : P2.04 : r18.3 : P4.77 : P1.86 :
3Q /2015 : 460.0k : 151.0k : r4.44 : 34.00 : P1.72 : r19.8 : P4.37 : P1.68 :
4Q /2015 : 500.0k : 151.0k : r4.38 : 34.45 : P1.83 : r18.8 : P4.25 : P1.81 :
1Q /2016 : 500? k : 152.0k : r4.31 : 35.25 : P1.97 : r17.9 : P4.15 : P1.77 :
2Q /2016 : 500? k : 147.6k : r3.80 : 38.80 : P1.81 : r21.4 : P4.65 : P1.99 :
3Q /2016 : 500? k : 146.5k : r3.73 : 39.25 : P1.98 : r19.8 : P4.72 : P1.83 :
4Q /2016 : 500? k : 150.6k : r4.71 : 32.00 : P1.90 : r16.8 : P3.57 : P1.53 :
1Q /2017 : 500? k : 154.6k : r4.57 : 33.80 : P1.97 : r17.2 : P3.51 : P1.67 :
2Q /2017 : 500? k : 161.5k : r4.06 : 39.75 : P2.20 : r18.1 : P4.30 : P1.67 :
3Q /2017 : 500? k : 167.0k : r3.84 : 43.50 : P2.15 : r20.2 : P5.23 : P2.03 : ALHI :
12/ 04/17 : ================ >> 41.75 : P2.05 : r20.4 : P5.15 : P1.80 : 10.98
4Q /2017 :
Colliers-- : 500.0k psm : At Q4-2015, Philippines Report
OPDI makati land: 500k x 639 sqm = P 320mn (6.7%) of POPI MktCap (P4.72bn = P2.00 x 2.37bn shs)


I find the stability of the Land-to-ALI ratio (from 20xx to 20xx) to be remarkable !


> SSC-tutuban: http://www.skyscrapercity.com/showthread.php?t=1413210

Chinatown / Divisoria is a part this thread too:


That is Noble Place in the background, a building by Megaworld which completes in March 2017,




Megaworld also built the nearby Lucky China Mall



LINK to here :: http://tinyurl.com/gei-Ctown

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ALI must have big plans for the Tutuban area, three Articles (taken together) suggest


Watch for a 12-fold increase in people coming to the Tutuban area

DEALSTREETASIA - ‎21 hours ago‎
In three separate business developments in the Philippines, Ayala Land Inc has sold bonds worth $172.4 million, while Roxas Holdings Inc seeks to raise over $26 million via stock rights offer, and Vista Land & Lifescapes Inc has forayed into the hotel ...
. . .
As part of Ayala Land’s P50-billion debt securities program, proceeds from the offering will primarily be used to finance the company’s corporate requirements and capital expenditures, including the redevelopment of the site of Intercontinental Hotel in Makati City into a transport hub with retail and office components and other similar projects, The Standard added.
August 14, 2015:

Ayala Land Inc (ALI) plans to secure a controlling stake in diversified conglomerate Prime Orion Philippines Inc (POPI) for $121 million (P5.6 billion).

ALI earlier informed the stock exchange that it has entered into an agreement with POPI, to subscribe to 2.5 billion common shares of stock in POPI, which translates in to 51.36 per cent stake, for a total consideration of P5.6 billion, subject to certain terms and conditions.

POPI has diversified interests in industries such as non-life insurance, real estate and property management, manufacturing, distribution, land title services, including information technology consulting services.


: 300px-Tutubanmall.jpg


POPI owns the retail complex Tutuban Center in Manila through its wholly owned subsidiary Tutuban Properties Inc.

It has a gross leasable area of about 60,000 square meters.




It also currently holds interests in other local companies such as Lepanto Ceramics Inc, FLT Prime Insurance Corporation, OMI Land Title Services, Orion Property Development Inc (OPDI), IT company Orion Solutions Inc, and Orion Maxis Inc (which serves as sales and marketing affiliate for the distribution of Lepanto Tiles by Lepanto Ceramics).

“This acquisition is aligned with ALI’s thrust of expanding its leasing business,” said ALI senior vice president chief finance officer and compliance officer Jaime Ysmael.



Tutuban Center may become Manila's busiest transfer station

Mar 20, 2015 - MANILA – Prime Orion is pursuing plans to expand leasable space in Tutuban Center as competition gets tighter in Manila's famous shopping ...


Yuen Po Seng, president and chief executive of Prime Orion, said around 40,000 square meters (sqm) of leasable space will be added to the complex in the next two to three years.

“With new development coming in, we will probably be having another 40,000 sqm leasable area in the next two to three years. This short term vision would maybe even double revenues we have in Tutuban itself...Right now, we have about 60,000 sqm leasable space,” Seng told ANC on Friday.


Seng said the expansion will allow the company to take advantage of the growing population in the area, which is the site for the proposed common station of the North-South commuter rail (NSCR) and the Light Rail Transit-Line 2 (LRT-2).


Tutuban gets about 1 million visitors every month, but the new railway line is expected to bring an additional 400,000 people per day. (!!)


"The DOTC has made some recent announcements that it is establishing the North-South commuter rail. What's exciting is that it will intersect with LRT-2 on Recto. And they are intersecting right where Tutuban is, so right where we are is going to be a major transfer station, the likes of Hong Kong and Japan where you have massive people criss-crossing. The consultants were saying that there could be as much as 400,000 people on a daily basis," Seng said.


1 million a month...

400,000 x 30days = 12 million - a 12-fold increase !

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North-South Railway Project


Phase 1 : to the North (and is elevated) - can cut travel time from Tutuban to Malolos to about 35 minutes (from hours)

Phase 2 : to the South, and enhances the existing rail line


The North-South Railway Project (NSRP) is a proposed railway line between Metro Manila, the National Capital Region (NCR) of the Philippines and Legaspi City, the capital of Albay province, in the Philippines.

The project is a part of the Government of Philippines' (GOP) objective to catalyse economic and urban growth in the most populous regions of the Islands by providing critical connectivity through a world-class passenger rail service.

The NSRP revitalises the oldest rail system in the entirety of southeast Asia, by delivering a 56km-long commuter rail and a 653km long-haul passenger rail services between Metro Manila and the under-served regions in South Luzon.

The project is being jointly implemented by the Philippines' Department of Transportation and Communications (DOTC) and Philippines National Railways (PNR). It was approved by the National Economic and Development Agency (NEDA) Board, in February 2015.

. . .

Once the proposed line becomes operational in 2020, it will handle ten daily trips, with seven train sets, passing through 66 stations. It is expected to carry 316,000 passengers a day in the initial year of operation. Approximately 44,000 public and private vehicle users are anticipated to shift to the new railway service.




PH, Japan sign $1.99B loan for North-South commuter railway

Nov 28, 2015 - FIRST SLICE. The North-South Railway (Malolos-Tutuban) deal is recognized as one of the priorities in the 2011-2016 Philippine Development ...

. . .

It seeks to provide an environmentally sustainable mode of transport through the construction of a 37-kilometer new elevated commuter railway from Malolos, Bulacan, to Tutuban, Manila; procurement of rolling stock; and the installation of electro-mechanical systems.

. . .

The Phase 2 of NSRP, meanwhile, involves the construction and rehabilitation of approximately 653-kilometer commuter railway operations from Tutuban to Calamba.

It also covers long-haul rail operations on the branch line from Calamba and Batangas, and extension from Legaspi, Albay, to Matnog, Sorsogon.

The Phase 2 of NSRP is being implemented as public-private partnership (PPP) deal.

JICA’s Niwa said in his remarks, "Traffic congestion is a clear and immediate challenge that can affect a country’s economic competitiveness."

"The Philippines’ transit lines extend to about 50 kilometers versus cities like Tokyo which has 300 kilometers subway network. By helping develop Metro Manila’s mass transit system, we can expand growth and develop surrounding cities," Niwa said.

As of July this year, JICA’s assistance covers 18 ongoing and 2 new project loans totaling about $2.8 billion. It also involves 8 ongoing grant aid projects, with total amount of about $116 million.



The NSCR project also features a 58-km line from Calamba, Laguna, to Batangas City, Batangas, and a 117-km line from Legazpi City to Matnog, Sorsogon.

Given the massive size of the south line will be funded via a public private-partnership scheme, the project is unlikely to be auctioned off within President Aquino’s term that ends on June 30.

Meanwhile, the Manila-Bulacan northern line, which was closed in 1984, is being funded by a Japanese overseas development assistance loan. With the funding already in place, the project can now proceed.

Based on JICA’s disclosure, the loan carries an annual interest rate of 0.1 percent and 0.01 percent for consulting services over a period of 40 years with a 10-year grace period.

As stated by Transportation Secretary Joseph Abaya, the construction of the Manila-Bulacan line will kick-off by early 2017 and the project would be finished in the latter part of 2020.

Abaya said the line is expected to have a total of 15 stations. Demand, however, is projected at about 340,000 passengers per day once it opens.

The transportation secretary likewise said the Manila-Bulacan line would cut the usual multi-hour trip to about 35 minutes.


> http://kickerdaily.com/ph-japan-seal-p97-b-worth-commuter-rail-project/

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Five companies, including Ayala, are bidding on the PPP for the South (phase 2):


Local and foreign groups are showing early interest in a massive railway public-private partnership (PPP) deal that would link Metro Manila and Legazpi City, Albay.

PPP center executive director Cosette Canilao said five groups have so far acquired bid documents for the P171-billion South Line of the North-South Commuter Railway (NSCR), which government planners said would be awarded under the next administration.


She said the groups were San Miguel Corp., Ayala Corp., Metro Pacific Investments Corp., India’s Infrastructure Leasing and Financial Services and US-based engineering and construction giant Fluor Corp.

Companies that acquire bid documents signal their intent to qualify for the project, which will involve a total of 653 kilometers of railway lines. It is expected to be in operation by 2020, based on the original schedule outlined by the Department of Transportation and Communications

. . .

The NSCR is in line with the revival of Luzon’s once robust railway system. At its peak in the1970s, it spanned 900 kilometers linking La Union province in the north to Legazpi City in the Bicol region in the south.

Under the PPP terms of the south line, the private sector partner is expected to design, construct, install, commission, finance, operate and maintain the existing 56-km commuter rail line from Tutuban in Manila to Calamba City, Laguna.


It is also expected to do the same for the 478-km long-haul rail operations from Tutuban to Legazpi City with the possible spur lines extension of 58 km from Calamba City to Batangas City and 117 km from Legazpi City to Matnog, Sorsogon.

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Clark Rail, extension beyond Malolos - Hong Kong's MTR was in the running (early 2015)


Major developers, including Robinsons Land Corp., Ayala Land, Inc., Megaworld Corp., Filinvest Land, Inc. and Century Properties Group, Inc. have expressed their interest in the project “and they did that in writing,” he said.

The BCDA will publish the terms of reference on Feb. 26 and the submission of bids will be in April, he said.

The proposed North-South Commuter Railway (NSCR) will run from Malolos to Calamba City, making it the prime candidate for any Clark link-up.

NSCR is the first phase of the Integrated Luzon Railway Project, which covers the abandoned Mainline North from Metro Manila to San Fernando, La Union and the suspended Mainline South from Metro Manila to Legazpi City, Albay. It also includes the abandoned spur lines to the North from San Jose, Nueva Ecija to Cagayan and from Legaspi City to Sorsogon, as well as the possible revival of the Batangas line.

Mr. Casanova said Hong Kong’s MTR system is “probably the most profitable and sustainable” railway model because of passenger volume and the presence of other sources of revenue, such as retail and commercial operations, within the vicinity of its train stations.

According to the official brief, the 9,450-hectare Clark Green City at the Clark Special Economic Zone “is envisioned to become the Philippines’ most modern and the first technologically integrated city with a mix of residential, commercial, agro-industrial, institutional and information technology developments at the same time having a green, sustainable and intelligent community for its residents, workers and business establishments”. -


> http://www.bworldonline.com/content.php?section=Economy&title=bcda-in-talks-for-clark-rail-link-with-hong-kong&8217s-mtr-corp.-japanese-firm&id=103222




Bulacan-Tarlac rail system in Clark Green City blueprint
Philippine Star-8 Mar 2016
Part of the detailed master plan is to identify the design and viability of constructing the Clark Rail Transit System which will run from Malolos, ...
. . .

Part of the detailed master plan is to identify the design and viability of constructing the Clark Rail Transit System which will run from Malolos, Bulacan to Clark Green City.

Business ( Article MRec ), pagematch: 1, sectionmatch: 1

The Clark Rail, which will cover some 85 kilometers, would link with the North-South Commuter Railway project of the Department of Transportation and Communications.

“We are now aggressively pursuing the opportunity to build the Malolos to Clark Green City connection,” said Casanova, who earlier placed investment for the railway project between $1.7 billion to $1.9 billion.

The BCDA and JOIN joint venture will be a private entity that is going to be incorporated in the Philippines.

Under the agreement, 45 percent will be owned by BCDA while 55 percent will be held by JOIN.

Casanova said the involvement of JOIN in the development of Clark Green City would lead to multiple joint venture partnerships that would serve as a vehicle for the formation of a Japanese consortium and investments in the field of power, transportation, tollways, industrial zones and economic centers

JOIN is a Japanese government corporation that aims to invest and participate in transport or urban development projects, involving Japanese companies, such as bullet trains, airports, and green cities.

“By investing in Clark Green City, JOIN will help transform it into a major economic center of the ASEAN economic bloc,” Casanova said.

The 9,450-hectare Clark Green City, which is located inside the Clark Special Economic Zone in Tarlac, is envisioned to be the country’s first smart, green and disaster-resilient metropolis.

- See more at: http://www.philstar.com/business/2016/03/09/1560863/bulacan-tarlac-rail-system-clark-green-city-blueprint#sthash.S8WQ8aV5.dpuf
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NOTES - from Ayala-Tutuban Commercial Center [mix]

Tutuban as a brand, not just a destination
By Rose De La Cruz (The Philippine Star) Updated March 21, 2011

MANILA, Philippines - A redevelopment plan for the former Tutuban Mall, which shall be called “Tutuban Commercial Center” from now on, has been unveiled to its current lessees and tenants in a grand cocktail held last March 11 at the TMX Multipurpose Hall of this popular bargain center in Manila. Once completed, Tutuban will no longer be interchanged with Divisoria but will already be a brand in itself.
The redevelopment plan is in preparation of the renewal of the 25-year lease in 2014 by the Philippine National Railways (PNR), which helped shape this new concept as PNR also plans to open this June its Bicol line and by first quarter next year, its Tarlac or La Union line.
It is also envisioned to be a strip mall just like Bonifacio High Street in the Fort Bonifacio Global City with one whole street devoted to malls. “This is something like Chinese Binondo strip since most of the vendors will be second generation and business-educated Filipino-Chinese,” he said.
The existing 8.5 hectares of Tutuban Commercial Center, which will now be known as the only upgraded bagsakan center operating 24/7, will also be renovated and a six or seven-story tower will rise in the unused portions of the property to house commercial stalls on the first two floors, a recreation and entertainment center in the third floor and the top three or four stories will be 250-room budget hotel for viajeros who will be bringing their goods to the bagsakan center.
. . .
“What is exciting is I am positioning the new Tutuban as an intermodal terminal hub. If we have an Araneta terminal in Cubao we will replicate it here because we have all the spaces for buses, vans and jeeps. What Araneta does not have that we do is the PNR train,” Hilario said.
The company will also lobby for the extension of LRT Line 2 to run from Recto to Tutuban Commercial Center on the way to Port Area coming from Pasig. “They have a plan to extend it until the pier and the first spot after Recto is our property,” Hilario added.
Tutuban Mall sets P1.5-B redevelopment
March 14, 2011
MANILA, Philippines – The Tutuban Mall, the wholesale and retail shopping hub, has announced a major facelift including the development of additional 11.5-hectare property to create a sprawling 20 hectare mix-use commercial center right at the heart of the City of Manila.
The night market in Tutuban, which used to be seasonal, is now on a 365 days a year.
The Tutuban redevelopment also envisioned the creation of an intermodal terminal hub being the home to Philippine National Railways.
Hilario said they are going to get more traffic once the PNR starts its full operation for northern and southern routes. The PNR Bicol line will start in June and the Tarlac line in the first quarter of 2012. (did not happen)


That is long, the PNR property from Recto to Tayuman is 1,200 meters long.
That is a huge area available for redevelopment, of course excluding areas that the PNR will be using.
Post# 83 : Render(s) of the Tutuban redevelopment plan (Aug.2012)
A: "I don't see any major improvements at all. Looks like it's just a re-painting works only"
B: "Interior isn't the problem with Tutuban, it's the exterior. I live walking distance from Tutuban but I rarely go there. The exterior is uninviting because there are always heaps of garbage outside, no clear sidewalk to walk through due to illegal vendors, the roads are always clogged with nonmoving jeeps, and it gets very muddy if it drizzles just a little."
C: "I strongly agree with you. the big culprit here is the chaos right before you set foot inside the mall. The area is so disgusting..trash,traffic,pollution include mo pa mga street vendors, snatchers and beggars swarming like flies. Kahit ala-Ayala style pa ang gagawin nila sa redevelopment diyan kung mga tao sa paligid ay di disiplinado, classic DIVISORIA still rules"
D: "Those steel columns have been there for ages. They're part of the original structure. Original parts include the arches, bricks, some iron works, windows and doors, etc. You could identify them if you have seen the old Tutuban Station before."
Tutuban mall in my opinion is dead. Its hey days are long over now. People now flocked towards the newer malls like 168mall and 999mall. Tutubans interior is gloomy, a little smelly too. Even the center mall has fallen to neglect. The owners doesnt seemed to have any interest in upgrading or even maintaining the mall anymore. Sayang yung binayad ng rights ng mga stall owners, some of which paid 500k when it first opened.
Someday, Tutuban may need general overhaul. Some of the priciest real estate in U.S. cities are built on top of railroad stations, i.e., Grand Central, Madison Square Garden and Chicago near Standard Oil. Maybe Manila can build an MSG type stadium cum retail center at Tutuban.
Tutuban Centre, Tondo , Manila , Philippines
Project Value Pesos 2.76 bn (US$63.86 mn ) Estimate.
15 storey shopping mall with mezzanine & total floor area of 110,423.32 sq m on site area of 9,072 sq m, to include:
• Retail spaces, Cinema, Department store, Comfort rooms, Parking area
(THEN, no news):
Tutuban Center died when 999 and 168 opened
(Not quite! Finally):
# 191 (Mar. 2015)
Prime Orion is pursuing plans to expand leasable space in Tutuban Center as competition gets tighter in Manila's famous shopping district of Divisoria.
Yuen Po Seng, president and chief executive of Prime Orion, said around 40,000 square meters (sqm) of leasable space will be added to the complex in the next two to three years.
# 196 (Apr. 2015)
MANILA, Philippines – The Department of Transportation and Communications (DOTC) has chosen Tutuban Center in affordable shopping haven Divisoria as the transfer station for passengers of the proposed P171-billion ($3.83-million) North-South rail project.
# 198
- Tutuban Center Shopping Plaza will rise in the former Cluster Building 1 site.
- Cluster Building 2 renamed as "Cluster Building".
I hope the Cluster Building gets demolished after Tutuban Center Shopping Plaza has been completed in order to blend with the new design.
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Manila's Chinatown : Another nearby revival story? (June 2013) : SSC-post#139



One Binondo (Chinatown) / source of image: http://www.basecreate.com/work/project-highlight/one-binondo



Filinvest, Ayala, SM & Megaworld to revive Chinatown?

Sources told this writer that the low-key but successful Filinvest Group of the Gotianun family is planning to develop a prime three-hectare property along Juan Luna Street and near the phenomenally successful 168 shopping mall led by former textile trader Basilio Tan. Founded by visionary self-made couple Andrew and Mercedes Gotianun, and led by their daughter Josephine Gotianun-Yap, the Filinvest Group is the developer of the booming Filinvest City in Alabang, Muntinlupa City. They also control the fast-growing East West Bank. Also near this Filinvest venture is reportedly the Ayala Group’s proposed project along downtown Manila’s Jose Abad Santos Avenue and near the 90-year-old top Chinese-language school Philippine Cultural College (formerly Philippine Cultural High School). The reported new Ayala project is estimated to be two hectares and said to be the site of a government-run public school. If this project will be developed, it will also be the Zobel Ayala clan’s comeback to their original roots in downtown Manila, since their original headquarters was in Calle Echague (now Carlos Palanca Sr. Street) of Quiapo district and their Bank of the Philippine Islands (BPI) started in Binondo, Manila.

Sources also told me that the SM Group of the Henry Sy family is reportedly interested in going back to its roots in downtown Manila and possibly redeveloping the TUTUBAN mall in nearby Divisoria, Manila.

Another group well-positioned to help in old Manila’s urban redevelopment is Megaworld of self-made billionaire Andrew Tan, with their already ongoing Lucky Chinatown Mall run by his hardworking son, first vice president and head of Megaworld Commercial Division Kevin Tan. Megaworld also has new condominium projects there in downtown Manila. By the way, congratulations on the forthcoming May 25 tieng-hun or engagement celebration of Kevin Tan and his fiancée Michelle See.


#140 - Ayala was there too, back in 2013 (Amaia is an ALI brand):

^ If all are true then it sure seems to be a cause for celebration. I saw an ALVEO Land Office near Binondo Church too so I guess at least for Ayala, the plan is chugging along. Not to mention the Amaia Skies project that has started construction this year near Doroteo Jose.


Noble Place / by Megaworld, 47fl (completion: March 2017): SSC thread


(Megaworld also built a successful mall nearby, the Lucky China Mall)


NOBLE PLACE, is a 47 storey tower located at the corner of Juan Luna and Dasmarinas Streets in Chinatown Binondo, a prime and fabulous location that is close to financial institutions, shopping malls, leisure centers, historical heritage buildings and the very best Chinese schools, among others. It offers fantastic views of Manila and Makati skyline, Manila Bay, Intramuros. It has fascinating amenities that include video intercom, lap pool overlooking the Pasig River, outdoor spa, in-pool lounges, indoor roofdeck badminton court, picnic area, daycare/tutoring room, business center, gym/sauna, gameroom, clubhouse.
Units range from a studio 38sq.m. in size up to as big as a 5bedroom unit with floor area of 195 sq.m. Price range is from about 85k/sqm. to 107k/sq.m. with various payment terms you can choose from. Expected date of turnover is March 31, 2017




The elegantly modern, jade sparkling 47-story tower, made of steel reinforced with high-grade concrete and wrap aesthetically with glass, soars above the bustling streets of Chinatown. Here, on top of the world, you can begin life anew in absolute luxurious convenience. Located in the heart of one of the country’s most historic settings, Noble Place is an address that lets you celebrate a glorious past-and look forward to a bright future.


ViewfromJonesBridgeDAY.jpg : more images-SSC

Noble Place, from opposite side of Jones Bridge



Noble Place. Rising at the corner of Juan Luna and Dasmarinas streets in Chinatown, your brand-new 47-story address lets you call the city of Manila your home.





This building is next to Noble Place. Classic design, but now looks abandoned

Manila’s Chinatown, established in 1594, is the oldest in the world, and is filled with renowned heritage buildings that have endured through the decades.

There is the Hong Kong Shanghai Bank Corporation Building at the corner of San Gabriel and Muelle dela Industria streets, inspired by Neoclassical architecture. The El Hogar Building along Juan Luna Street is built in the Beaux Arts style. The Art Noveau-themed Uy-Chaco Building rises along Cervantes Street. The Roman Santos Building across from Plaza Lacson showcases Greco-Roman inspiration. Binondo Church, founded in 1596, is designed in the Colonial and Baroque style.

Chinatown’s shopping and dining hot spots are close by, so you never have to look far for a good time. Visit authentic Chinese restaurant, herbal medicine shops and jewelry stores along Ongpin Street. Find unbeatable bargains at 999 Mall, Tutuban Mall or in the outdoor market of Divisoria. Or experience Hong-Kong style shopping at Cityplace Square or the Lucky Chinatown Mall, located in the Cityplace community at the corner of La Chambre and De La Reina streets.


> http://www.zipmatch.com/condominium/noble-place

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Tutuban's Locational advantage - at a (future) major Transport Hub - great for wholesale traders


> Pioneer of Retail and Trading / with Good access to North and South... and also to the Port


Tutuban Center confident on rebranding

by BusinessMirror - July 21, 2015
Tutuban Center formally welcomed its new tenants after a contract signing held at Orion Hotel Manila. The shopping complex is going to be home to retailers from the food and fashion industries such as Mini Stop, Giligan’s Island Bar & Restaurant, Greenwich, Sisig Hooray!, Domino’s Pizza, The Look and Manjaru Slippers.



The signing of newly acquired tenants comes fresh on the heels of the opening of TC Shopping Plaza. The plaza is Tutuban Center’s newest arm that hosts a wide variety of products—from accessories, novelty items, apparels and food stalls.

These recent developments and tenant acquisition is part of the shopping district’s aggressive redevelopment and rebranding plans. Part of Tutuban Center’s efforts this year is to expand its target market and reach out to a wide range of tenants including traders.

Sylvia Tecson, vice president for Leasing and Marketing of Tutuban Center, explained: “Wholesale is very strong here in this area. A lot of entrepreneurs from provinces like Davao and Cebu, for example, go here just to buy their merchandise. We want to acknowledge that market this time.”


Great consumer access
“One good thing about Tutuban is that it never sleeps. There is the day market, the TC Shopping Plaza, and the night market that is open 365 days a year. The place offers a lot of promise when it comes to consumer access, whether you are a convenience store open 24/7 or a family-friendly restaurant,” Tecson said.

For the rebranding, Tutuban aims to turn the shopping complex as a one-stop shop for every kind of shopper. The plan is to utilize the property’s huge area to cater to different segments of the market. The Centermall, for example, is being positioned as the lifestyle center, while soon to be developed buildings will be for the retailers and wholesalers.

The shopping complex is also known for having heavy foot traffic. The district is within convenient access to tenants and shoppers coming from Mayhaligue (Philippine National Railways riders), Recto (Metro Rail Transit and North commuters), Tondo, Tabora, and Ilaya.

Future developments
The Department of Transportation and Communications (DOTC) has also pinpointed Tutuban Center to serve as the transfer station for the planned P171-billion North-South rail project. The west extension of Light Rail Transit Line 2 (LRT 2) in Recto will also be close to the vicinity of the shopping haven.

The projects, which are set to start very soon, will extend the LRT from Recto all the way to the Port of Manila. The North-South rail project, which will have Tutuban as its central station, on the other hand, will run all the way to Bulacan and Laguna.

The development of these routes will make the area more accessible to consumers. The additional impact of these transit lines is one that tenants are definitely looking forward in the area.

“Tutuban is really the first mall in Divisoria. A lot of competition has come ever since but with new tenants coming in and the rebranding plans, we are confident that Tutuban will still be top-of-mind as the place to be in Divisoria,”Tecson said.


> #205: http://www.skyscrapercity.com/showthread.php?t=1413210&page=11



“Tutuban has always been known as the Pioneer of Retail and Trading in Manila’s Business District” Tecson notes. “We opened the TC Shopping plaza to provide a venue for “mom-and-pop” and SME-type of businesses, and in the process help improve the livelihood of residents in the area.”
Located near the Bonifacio Plaza (in front of Prime Block and Centermall), the TC Shopping Plaza provides convenient access to shoppers and tenants coming from Mayhaligue (PNR Riders), Recto (LRT and north), from Tondo, and from Ilaya and Tabora in Divisoria.

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The BIG Ayala News hit ! - Aug. 15, 2015


Ayala center has taken control of the entire Tutuban complex. Woohoooo




ALI taking over Tutuban Center
By Iris C. Gonzales (The Philippine Star) | Updated August 15, 2015 - 12:00am
MANILA, Philippines - Ayala Land Inc. is taking majority control of Tutuban Center operator Prime Orion Philippines Inc. (POPI) for P5.6 billion.
In a disclosure to the Philippine Stock Exchange, ALI said it forged an agreement to acquire 2.5 billion common shares or 51.36 percent of Prime Orion.
P 5.6 billion / 2.5 bn shares = P 2.24 per share - for 51.36% majority stake
POPI / Prime Orion Philippines Inc... 2-years : Last: P-1.98
Worst thing that could happen under ayala, tear down the whole place a build condos and high end shopping malls which clearly does not fit that place...pagandahin at ayusin pero not in a why that they'll completely change it the way most of us know tutuban shopping center..
(Note: he doesn't seem to get that this move is about transport, and maybe a new type of broader business at malls for Ayala-
That is MY guess anyway.)
looks like ayala are eyeing the railway PPPs- commuter train to bulacan. ni roll out na ba yung LRT2 west extension?
since napunta din sa kanila yung automation ng cards sa MRTs plus LRT1. since magbebenefit talaga dito ang tutuban dahil sa tapat nila to itatayo.
feeling ko prime block will also be affected in the future. parang kaunti ng tenant sa 3rd floor(2nd floor?). pangit ng disenyo.
malaki ang chance na palitan ng ayala ang masterplan. malaki naman lupa ng tutuban center. malamang mixed use eto in the future. magaganda naman ang masterplan ng ayala, i think we can consider it an upgrade. pero lets see muna ano mangyayari.
roll out of the west LRT-2 extension ba ?Since I went to them with cards of automation plus LRT1 MRTs . Since maybe benefit really here because tutuban against them to be built.feeling my prime block will also be affected in the future . like little tenant on the 3rd floor ( 2nd floor ? ) . ugly design .great chance to replace Ayala 's masterplan . also large ground tutuban center . probably mixed use here in the future . The beautiful masterplan of Ayala , I think we can consider it an upgrade . But first lets see what happens .
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Guessing Game : What are Ayala's plans ?



With ayala now in control. I see ayala building a market market type mall at tutuban plus hotels for out of town folks and maybe even bpo bldgs. Tutuban will have its own lrt2 station and will be the main station for the north south rail line. So its gonna be a very very busy place in the near future. Traders and shoppers will flock this area when development is complete.

Naisahan ang SM dito.

Filinvest who has a huge project just a few steps away from tutuban will greatly benefit from this development and hopefully this will start the redevelopment and gentrification for that part of tondo



I hope PNR can revive and modernize the train service going north, i mean up to ilocos and baguio. I remember our family used to take the aircon train from tutuban to baguio when we were young. Its really exciting to ride the train going to baguio city. I remember may nakakasabay pa kaming mga sikat na artista noon sa train.



Divisoria is ALI’s exclusive 22-hectare kingdom
by Emeterio Sd. Perez | Manila Times | Tuesday | September 29, 2015 | 9:29 pm

TUTUBAN Properties Inc. (TPI) is likely to be the latest addition to the list of subsidiaries of Ayala Land Inc. (ALI), which is a unit of Ayala Corp. (AC).
As a wholly owned unit of Prime Orion Philippines Inc. (POPI), TPI holds the “lease and development rights over a 22-hectare market district in downtown Divisoria.”

In a filing, POPI disclosed what attracted ALI to invest in POPI. In a posting on the website of the Philippine Stock Exchange, it said that “on December 22, 2009, it (TPI) renewed the contract of lease with the Philippine National Railways for another 25 years from September 2014 to 2039.



Prime Orion Philippines Inc., through subsidiary Tutuban Properties Inc., has secured 17 hectares of land from the Philippine National Railways (PNR) for the expansion and redevelopment of its iconic Tutuban Center in Divisoria.
In a disclosure to the Philippine Stock Exchange, POPI said the Philippine National Railways (PNR) has turned over to Tutuban Properties about 3 hectares of Phase II-A of the leased property along Tayuman.



First, you wrote and we quote “This coming Tuesday (Oct. 20), Ayala Land will formally take majority control of the 22-hectare Tutuban Center....”. As disclosed to the public, the Special Stockholders’ Meeting at the Makati Shangri-La on Tuesday is primarily to present to our stockholders for consideration and approval (a) the increase in Prime Orion Philippines, Inc.’s (POPI) authorized capital stock from P2.4 Billion to P7.5 Billion, and ( B) the Subscription by Ayala Land, lnc. (ALI) to 2.5 Billion POPI shares of stock (out of the said increase). We wish to make it clear that while that matter is for consideration and approval, ALI’s due diligence in relation to their entry to POPI is still ongoing and the finalization of the deal remains subject to meeting certain terms and conditions.

Secondly, you specifically mentioned POPI as a “cash-strapped developer”. Allow us to state that our company is 100 percent debt-free and, as also disclosed, our company’s liquid position (cash, cash equivalents and AFS & FVPL financial assets) stands at P1.69 billion as of June 30.

Thank you very much. / Very truly yours, / Victor V. Rafael



Looking quite good now with the (not yet completely finished) plaza in front of it:



tutuban now has a hotel. Orion Hotel. Located in upper floors of one of the commercial bldgs.

Lots of existing commercial bldg here are 20 years old and quite not much accessed for shopping. Shoppers go to newer malls nearby. Mostly used as bodega. Hopefully, ayala will tear them down and redevelop them. Space near recto are all have existing structure. Still many empty area located near pnr area.

People here mostly are lower income. Mass masa pa dito than Market Market.

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Where? What?




If the planned LRT-2 Extension to the Port Area will be realized, then surely Tutuban will be a very busy place, given that an LRT-2 station and the main PNR Station will meet at one vicinity. But if the LRT extension will be trashed, then I think if they want to extend the PNR Railway to Rizal Ave, it will be elevated. The news article said the PNR to Malolos will have some ELEVATED parts.


Future Financial CBD nearby?

LRT-2 will definitely be extended all the way to south harbor. Why? Because, Philippine Port of Authority (PPA) is on its track to turn a portion of the port area into a modern financial CBD. This is the project that was campaigned by former Mayor Lim. However, he has no authority on that project as PPA is an independent agency. He merely used the future plan of PPA into his interest. Apart from the extended LRT-2 to the Manila's future financial CBD, another transport project that will connect to it and will be implemented via PPP with either a TRAM or a BRT that will traverse the Roxas Boulevard stretch all the way to the future ITS-South West at the Entertainment City.



Haven't heard about these plans yet but a Tram would be awesome. We've got plenty of them in Berlin and most quite modern but I wouldn't mind something with a historical look that fits the feel/style of Intramuros, Rizal Park and Roxas Boulevard along the way.



Berlin's Central Rail station - some dream that it could be a model


> SSC: http://www.skyscrapercity.com/showthread.php?t=1413210&page=13

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Lucky Chinatown Mall






Lucky Chinatown Mall Megaworld Reina Regente Street Divisoria by HourPhilippines.com

Published on Aug 16, 2013
Lucky Chinatown Mall Reina Regente Street Megaworld Divisoria. A 5 hectare development by Megaworld Corporation in the heart of Chinatown. Lucky Chinatown mall is a stark contrast to the chaotic flea market and malls of Divisoria but we are glad it has been built as it also provides a level of safety and security to the area. Also some true chinatown restaurants like King Chef and Sincerity are located at Lucky Chinatown Mall. There are 5 levels of shopping and 5 levels of parking and shuttles to Resorts World Manila.
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Top 8 condo projects near Manila’s Chinatown


Properties in the heart of Manila’s Chinatown, offering residents the advantage of living near where their businesses are. The residential condos are a short walk away from major establishments in the area such as: the Metropolitan Hospital, Arranque and Bambang Markets, Divisoria, 168 Mall, Tutuban, and several churches. Prestigious schools and government offices are also easily accessible from these properties.


Projects in Chinatown :

1. Princeview Pk.suites / Anchor/ dm : Jan. 2018 : 0,116 units : 39 st
2. One Binondo -------- / Filinvest Ld : ??? 2019 : ????? units : ?? st (Mall first, in Tondo, not Binondo)
3. Noble Place ---------- / Megaword- : Q1- 2017 : ????? units : 47 st
4. iPacific Residences- / PacificLand : ??? 20?? : ????? units : 23 st.
5. Four Season Riviera / Federal Ld. : July 2016 : 0,167 units : 30 st., 4xT
6. Oxford Parksuites --- / Anchor Ld. : Jun. 2017 : 0,210 units : 39 st.
7. Amaia Skies Avenida / Ayalaland- : ??? 2017 : 1,167 units : 35 st.
8. Radiance Manila Bay / Robinsons : ??? 2018 : ????? units : 36 st., 2xT


+ Lee Tower, Binondo-- / Anchor Ld. : year 2006 : ????? units : 33 st

The company’s developments take inspiration from upscale condos in major cities around the world while incorporating age-old Feng Shui principles. Building on the successful formula of its first project, the 33-storey Lee Tower in Binondo which was sold out within 9 months and delivered ahead of schedule in 2006, ALHI has continued its dynamic and aggressive approach to take on even bigger and bolder challenges. The company has several ongoing developments, with more in the pipeline.

img_20160129084730_condos2-01292016.jpgby Jillian Cariola, MyProperty.PH

Aiming to live in Binondo? Check out these 8 condo projects near or within the world’s oldest Chinatown.

Chinese-Filipino trading history can be traced as far back as the 9th century, which explains why Chinese customs are so deeply ingrained into our own Filipino traditions. Perhaps the most evident proof of this is the existence of Binondo, which was already busy with commercial activity by Chinese immigrants even before the Spanish colonial period. Officially established by the Spanish government in 1594 as a district of Manila, it is considered to be the world’s oldest Chinatown.

Today, Binondo remains to be one of the top business centers of Manila, consistently drawing crowds during big events such as the Christmas season and Chinese New Year, which will fall on February 8 this year. If you’re in the market for a new home that will bring you close to one of the most historically significant centers of the country, consider any of these eight condos as your new home.

1. Princeview Parksuites : website : Jan. 2018

Rising 39 stories along Quintin Paredes Road, the 116-unit Princeview Parksuites is a partnership between real estate developers Anchor Land Holdings and DMCI Homes, Inc. Its location puts it only minutes from key areas such as Divisoria, Tutuban, Metropolitan Hospital, and Arranque and Bambang Markets. As a luxury condo project, Princeview Parksuites boast low-density living, and offers amenities such as a 38-meter lap pool, gym, function room, and game room. Unit prices range from Php3.8 million to Php16.2 million. Princeview is slated for completion in January 2018.


2. One Binondo : website : 2019

One Binondo by Filinvest Land, Inc. is a mixed-use community that is said to offer “opulent spaces with a distinct Chinese touch.” Aside from offering residential units, the 2.6-hectare project will have office spaces, a hotel, mall, plaza, and micro-retail stalls. The mall will be completed in 2017, and the residential portion and the rest of the project will be finished by 2019.


Noble Place under construction. Many flats should have exceptional views

3. Noble Place
: website : Q1- 2017
Noble Place by Megaworld Corporation is a modern 47-story tower that will rise at the corner of Juan Luna and Dasmariñas Streets. Truly a condo fit for residents ranging from young professionals to families, spaces range from studios to five-bedroom units. Nearby places of interest include Megaworld’s Lucky Chinatown Mall, Manila’s business areas, and several schools and universities. Completion of Noble Place is targeted at the first quarter of 2017.

4. iPacific Residences
: website :
Pacific Land and Building Corporation’s iPacific Residences is a residential project rising 23 stories at the corner of Lavezares and Ilang-Ilang, and is within easy reach of locations such as Binondo Church and 168 Mall. A pioneering modern building within the traditional community of Binondo, iPacific is the first fiber-powered building in the area, providing high-speed Internet to its residents.



5. Four Season Riviera : website : July 2016
Composed of four 30-story towers containing a total of 167 residential units, Four Season Riviera by Federal Land is bound by Muelle de la Industria, Numancia Street, and Prensa Street, providing residents with easy access to Manila’s various business areas. Amenities include swimming pools, a game room, a multi-purpose hall, and a daycare center. Federal Land is targeting July of 2016 as Four Season Riviera’s date of completion.

6. Oxford Parksuites
: website : June 2017
Situated at the corner of G. Masangkay and La Torre Streets, Anchor Land Holdings’ Oxford Parksuites is a 39-story, 210-unit project developed primarily for families with school-aged children. It is located right in the “Chinese School Belt” and offers amenities conducive for academics, such as a reading room and a tutor room. To maintain a sense of privacy, Oxford is designed to be a low-density condo, with only seven units per floor. Completion is estimated at June 2017.

7. Amaia Skies Avenida
: website : 2017
Located around 10–15 minutes from Binondo (less than 10 minutes by car with no traffic) is Amaia Skies Avenida, a 35-story development rising on a 6,772-sqm land along Doroteo Jose Street in Santa Cruz, Manila. Developed by Ayala Land subsidiary Amaia Land Corporation, the two towers of Amaia Skies Avenida comprise 1,167 units ranging in size from 18 to 32.7 sqm, which are perfect for young professionals or couples. Prices range from Php1.4 million to Php2.9 million. The turnover date for Amaia Skies Avenida is set for 2017.

8. The Radiance Manila Bay
: website : 2018
Located along Roxas Boulevard 20 minutes from Binondo (14 minutes by car without traffic) is The Radiance Manila Bay by Robinsons Residences. Composed of two residential towers each 36 stories high, The Radiance contains one-, two-, and three-bedroom units priced from Php4.7 million to Php11.4 million. Boasting a green and peaceful lifestyle, the condo is designed using green architecture to maximize the use of natural lighting and air circulation, and offers amenities like an activity lawn, a garden walk, a gazebo, and a sky lounge. The Radiance Manila Bay will be completed by 2018.


> http://www.bpihousingloans.com/pages?page=top-8-condo-projects-near-manila-s-chinatown

Comment about the area around Four Seasons & Noble Place:

#6 : The squatters colony is still about 4 blocks away. Just avoid commuting via delpan bridge. The place is generally safe if you have a car, as long as you go there via dasmarinas. Avoid delpan bridge as much as possible. It might be shorter way coming from roxas blvd but wont be a nice experience. Maybe they wont bother you but its so scary that you might run over some kids who are practically everywhere. There are a lot of trucks parked just outside its vicinity and sometimes there are makeshift tents along the walkway by the river. Walkiing is possible during daytime via dasmarinas, but dont try walking there at night. I think they should put their main entrance or at least another entrance via the metro park. Galleria de Binondo is in such a sorry state. Wala na atang maintenance dito.

> http://www.skyscrapercity.com/showthread.php?t=1323893

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One Binondo, near the Tutuban complex


2.6-hectare site will have retail, micro-retail, mall, office, residential and hotel developments




P20bn Filinvest development projects - Property24


Jun 20, 2014 - Near the Tutuban complex in Chinatown, Filinvest's one binondo will have a hotel, mall and plaza retail area, micro-retail stalls, office spaces ...



#90: "Looks like Uptown Bonifacio. Nice."
#91: "With Ayala's Tutuban Project nearby, I have high hopes in this area's redevelopment."
#92: "Revitalizing chinatown. But thats not even part of chinatown already. Thats part of tondo, moriones area. But hell, its a great project still "
#93: "im looking at this project as lucky china town 2.0. IMO this project might be heavily reliant on tutuban's revitalization (ayala and the train to bulacan) especially its hotel and office component (if theres any). i dont think a 4-5 star hotel nor an office(presuming the left building is the hotel/office building which really look high class) will thrive there."

Oh dont get me wrong, i really like this development, its just that its the wrong type of development in the wrong area. Parang too much too soon. Clearly this is an upscale type development located in a depressed community. Its like a person wearing signature clothes, carrying signature bags, wearing expensive jewelry living in the poorest neighborhood. I dunno if filinvest made the right decision here
Nope. Not too soon. I believe that area is already ripe for redevelopment. That depressed community is already depressed that it is the right time for it to be rehabilitated. If not today, then when? I believe Filinvest has made a decision out of substantial evaluation and consideration. If Ayala can be in that place, why can't they? And don't compare a development to a person. They are totally different animals.



> SSC-OneBinondo thread: http://www.skyscrapercity.com/showthread.php?t=1698749&page=5

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Amaia Skies Avenida – Affordable Condo



skies-cubao-model-1.jpg?w=150&h=84 skies-cubao-model-2.jpg?w=150&h=84 skies-cubao-model-3.jpg?w=150&h=84

Affordable Condo In Manila

Start you career right with Amaia Skies Avenida as your strategic home in the city!

Enjoy first-rate amenities and lots of convenience features at Amaia Skies Avenida. This affordable but quality high rise condo for sale is conveniently located where you can have an easy access to LRT1 and LRT2. Best for individuals living a dynamic and fast-paced lifestyle, Amaia Skies Avenida has everything within your reach.

At Amaia Skies Avenida, flexible payment terms are offered so every Filipino can finally have the chance to own their own property. With its easy payment schemes, you can now afford to live high, reach the peak of your career, and start fulfilling your dreams.


Near FEU and Other Top Universities. Amaia Skies Avenida is convenient option for students. This affordable condo by Amaia Land is nearby top universities like Far Eastern University FEU and Univesity of Santo Tomas UST. At Amaia Skies Avenida, studying is more fun and comfortable.

Near LRT1 and LRT2 Stations. Transportation options are very important if you are at a capital city like Metro Manila. Amaia Skies Avenida gives you this very important advantages. This condo project is just in walking distance from 2 of Metro Manila’s railway lines. Whether you are a student or a career person, Amaia Skies Avenida is you strategic choice! See more location features here.


> https://condoforsalemanila.wordpress.com/2013/06/28/amaia-skies-avenida-project-details/


Avida San Lazaro - website :

Location : Inside triangle: LRT-Tayuman, PNR-Blumenttrit, PNR-Laong-Laan






"The original Chinatown is only in Binondo and part of Sta. Cruz as bounded by the goodwill arches along Quintin Paredes, Ongpin, San Fernando streets. There is no real boundary for it but we typically consider Chinatown as bounded within CM Recto, Abad Santos, Bambang, Quezon Blvd, Pasig River, San Nicolas areas.

The term Greater Chinatown was only coined by the Ayala Group in trying to sell their projects in San Lazaro. Banawe is also now considered a new chinatown, with their own goodwill arches to boot."

> #38 : http://www.skyscrapercity.com/showthread.php?t=1698749&page=2

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Binondo Back Story ... with "BPO plans" for the future (from Jan. 2012)

Binondo’s heyday may have ended with the onslaught of World War II, but it’s gone down in history books as the first commerce hub in the country.

Entrance to Ongpin Street, Binondo

“Nothing can beat Binondo’s business heritage. It has pedigree,” said Ivan Man Dy, founder of Old Manila Walks, which offers historical cultural tours. “For the most part, businesses there still have a Chinese stamp on [them].”

Initially founded by Spanish Governor Luis Perez Dasmariñas for the Chinese Catholic population in 1594, the commercial district of Binondo was overseen by the ministry of Dominican friars. Lying just across the river from Intramuros, Binondo got its name from the word binundok, which means mountain.

Most Chinese settlers were from the Southern province of Fujian, while some hailed from Canton. The Philippines was a convenient destination for migrating Chinese, as Mr. Man Dy explained in an interview: “Fujian is a very outward-looking region, since it faced the South China Sea.” Today’s Chinese-Filipinos or Tsinoys are predominantly of Hokkien descent, he also said.

While it originally profited from the Manila-Acapulco Galleon Trade in the 1500s, Manila’s Chinatown became known not only for its merchants but for a diverse industrial sector that ranged from cigar production to bell making. Binondo had been a commercial district from its inception, but Mr. Man Dy noted, “The Chinese only got into business here because there weren’t other options available to them then.”

The country’s early Chinese immigrants had to contend with discrimination from the Spanish, who charged taxes double that of Filipinos. And they were encouraged to become agricultural laborers, according to Prof. Linda A. Newsonbut of King’s College London, because they were seen as better workers next to native Filipinos. Despite colonial authority’s distrust of the Chinese, the Spanish were also dependent on their goods and skilled services, especially to help Manila—then a new colony—find its footing.

As many settlers eventually intermarried with locals, the resulting generation of Chinese mestizos or mestizos de sangleyes helped shape Binondo into a bustling business community. “They had the best of both worlds,” shared Mr. Man Dy. “They became the bridge between the local social culture and the Chinese business culture, so they were the ones who profited when the market opened up.”

Using the dispensa de ley, Chinese mestizos were able to legally change their classification by transferring their families into the tax register of Malay Filipinos. As importers, retailers and wholesalers, the Chinese locals’ entrepreneurial savvy led them to become key players in the economy.

According to “Connecting & Distancing: Southeast Asia and China,” published in 2009 by the Institute of Southeast Asian Studies, small credit and retail establishments flourished under the Chinese mestizos. And for a time, Binondo was also known as the country’s financial center: Until the 1960s, it was the site of the Manila Stock Exchange.

Many of today’s local financial institutions, including China Banking Corp. (China Bank), Metropolitan Bank & Trust Co. (Metrobank), Allied Banking Corp. (Allied Bank), and Bank of the Philippine Islands (BPI) were originally based in Binondo.

. . .

Soon, Binondo will get with the times, starting with Escolta, its main thoroughfare. Last September, representatives from the City of Manila, the International Council on Monuments and Sites, and various Escolta property holders met for “BPO@Escolta: A Dialogue Among Stakeholders” in the Manila City Hall. This was part of a new movement to reinvent the street and its heritage structures into a leading business process outsourcing (BPO) hub.

“[it] aims to broker a marriage between two of the country’s strongest resources: our BPO industry, and our 20th century heritage architecture, the best examples of which are located in the Escolta neighborhood,” said Dominic Galicia of Dominic Galicia Architects. “[its] unique architectural environment, as opposed to buildings of more recent vintage, is a strong selling point.”

Escolta is close to many universities and colleges from which BPO firms can find potential staff, but it’s the buildings’ historical facade that may help set the firms apart from their competitors abroad.


> more: http://www.bworldonline.com/content.php?section=SpecialFeature&title=binondo-back-story&id=45475

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AFTER A WALKING TOUR of Tutuban / Chinatown

I went to visit Manila's Chinatown yesterday - and found a nice mall (Lucky Chinatown)
But walking around is like "swimming in mud" and I felt very tired and dirty after a bit.

The areas nearest the station (Tutuban, which will be redeveloped) have the most potential IMHO

I now see Tutuban (down to the Lucky Chinatown mall perhaps), and Chinatown/ Binonodi as two separate areas, with poor connectivity between them. The walk between them is not pleasant. It would be a real nightmare in the rain. Someplace like the planned Binondi One development (which is NOT in Binondi!) would be a much more convenient and walkable place for a regular commuter through Tutuban to live, than all the way do in the historical Chinatown area


(reaction by email):


In divisoria I am used to go to Tutuban mall and mall 168, another mall nearby. It's not very convenient to go there but it's the cheapest place I know in Metro Manila.
As Michael said the streets between the malls are dirty and unpleasant, but as long as you stay inside a mall it's okay.

Binondo is another weird area... but a great place to find specific tools, hardware, machinery etc...

- A.R.

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  • 2 weeks later...

(Lamudi has this for sale): ₱ 8,000,000 / 80 = P 100 psm, a bit cheaper than Makati


> More: http://www.lamudi.com.ph/noble-place/


4/F Lucky Chinatown Mall Building B, Reina Regente St. Binondo, Manila, Manila

Company website


Noble Place, High Zone 1, Unit G, 2 Bedroom for Sale, Binondo, Manila, Megaworld Manila


Your family can own Philippine Retirement Authority (PRA) Special Resident Retirement Visa (SRRV)-a lifetime visa, on your Noble Place Residential Condominium investment.

Noble Place is in the center of everything----colleges & universities, Chinese schools, banks & financial institutions, shopping malls, churches, restaurants, hospitals, cinema houses, parks.

Noble Place is an elegant glass tower that offers amazing view of sunset at Manila bay, Intramuros Golf Course & Makati Skyline.

Noble Place is a home for families, a wise investment for businessmen, a retirement place for retirees & an abode for students.

Enjoy high ROI on your Noble Place Residential Condominium investment.

Noble Place rising at the corner of Juan Luna and Dasmariñas streets, Binondo, Manila.


Recreational Amenities/Facilities

- Landscaped Gardens

- Sky Gardens at 16th and 26th Levels

- Infinity Pool with Paved Sunbathing Lounge, Tent Pavilion, Outdoor Spa

- Business Center, Clubhouse / Multi-purpose Area, Game Room

- Gym with Sauna and Spa, Tennis / Badminton Court

- Male and Female Changing/ Shower Room

- Children's Pool, Children's Playground, Daycare / Tutoring Room

- Reading Deck, Picnic Area and Barbecue Arbor, Tai Chi Area


> http://www.lamudi.com.ph/noble-place-high-zone-1-unit-g-2-bedroom-for-sale-binondo-manila-megaworld-manila-264584-80.html?gclid=COiShcerhMwCFZCXvQodfGMPpA

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  • 1 month later...

Tour guiding in Manila -Chinatown, Binondo



/ 2 /


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Manila-Clark Rail : Just 1-Hour?




It's a Go! For the Manila-Clark railway project - BCDA


The government is proceeding with a railway project that will aim to cut transit time between Manila and Clark Freeport Zone in Pampanga to one hour


+ The Japanese partners (of BCDA and DOTC?) have submitted a proposal to do the feasibility study for the Manolos, Bulacan to Clark segment,

initially, there was a cost estimate of P 117 billion for that section


+ The project is now being looked at to cover the entire distance from Tutaban (Binondo) to Clark


+ The Clark-Manila rail project is now intended to link to the P 288 billion North-South Commuter Rail (NSCR) project, already approved in Feb.2015


- page B4, of today's Manila Times


> see: Rail: http://www.greenenergyinvestors.com/index.php?showtopic=20586&page=2





(The Philippines) North- South Commuter Railway Project (Malolos- Tutuban)

Published on May 31, 2016

The objective of the Project is to expand the economic sphere of Metro Manila and reduce air pollution by constructing a commuter line interval, running from Malolos, the capital city of Bulacan Province at the north of Metro Manila to Tutuban in the City of Manila. Its total length is 37.9 kilometers, and there will be 10 stations throughout the section. The project is to enhance the connectivity of the transportation network and alleviating the serious traffic congestion in Metro Manila.


When finished, pedestrians will be able to WALK easily from Tutaban to LRT-2

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CHINATOWN Revitalized, special section in today's PH Inquirer



"The oldest Chinatown continues to attract businesses"

Megaworld (Andrew Tan) has been a key force in modernizing Chinatown over the last decade, and it is now restored as an important tourist attraction:

+ Tan lived in Bionondo after he emigrated from Hong Kong, and has long had a vision to transform the area
+ Lucky Chinatown is a modern, world-class mall, with attractive shops and restaurants
+ Noble Place - a highrise in a historic location, which will turnover next year
+ Cityplace Twin Tower residences - a luxury high rise, now Ready-For-Occupancy (RFO)
+ Plaza Cervantes is now being revitalised, with shops along Ongpin street, etc to be preserved - some "old guards" like Eng Bee Tin and Sincerity were specially mentioned, as were Feng Shui shops


Hong Kong is seen as a model for how Chinatown can be revitalized, and there is a strong desire to preserve cultural attractions.

The transformational job is only "half-way" finished at this stage, and there is also a desire to uplift the way of life of the people

The Rosy relationship between Duterte and China is helping to make Binondo a key area, as mainlander investors and tourists are attracted to the area. Also Chinese from Taiwan, Singapore, and Malaysia are coming to do business. And some are looking at PH's Chinatown as a second home. And some are now considering retirement in the area. Megaworld plans to continue building on the vibrancy of Chinatown.

Eight Lucky Chinatown rituals: CNY celebration
+ Prosperity tree, Lighting of incense, Astrological forecast, lucky talisman
+ Wishing Buddha/toss a coin, God of wealth, Ring Lucky gong, Lucky lantern



Noble Place, an oasis in the heart of Binondo
+ 47 storey striking glass tower with a luxurious design, and hotel-like amenities
+ Swimming pool, gym, reading deck, spa and sauna, indoor tenns court
+ Clubhouse, business center, and a tent pavilion for events
+ Shopping: Walking distance from Lucky Chinatown mall, 168 shopping center, Divorsoria
+ Megaworld is accredited by the PRA to provide Special retirement visas for foreign buyers


Plaza Cervantes - regaining former glory
Megaworld has immersed itself in the culture of Chinatown, to enhance the revival of the area.
Plaza Cervante is part of that, as a majpr street in the area, and a gateway to the Binondo business district.
It is rght in front of Noble Place, and is being redeveloped together with the government. A new park will be added

Interactive Chinatown Museum coming (next to Lucky Chinatown)
The Museum will be established in partnership with the National Geographic.
15 Galleries - Will include photos and images of the past, and other "treasures" of the past

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Stock chart update : MEG has corrected, but POPI has not


PH:MEG / Megaworld ... 5-yrs

/ updated: P 5.19 at 12/01/17



PH:POPI / Pearl Orient ... 5-yrs

/ updated: P 2.05 at 12/01/17




ALI - / AyalaLand ....... All-Data : 5-yrs : 3-yrs : 6-mos : 10-d

MEG / Megaworld .... All-Data : 5-yrs : 3-yrs : 6-mos : 10-d

Popi / Prime Orient .. All-Data : 5-yrs : 3-yrs : 6-mos : 10-d

AHLI / Anchor Land .. All-Data : 5-yrs : 3-yrs : 6-mos : 10-d


Catching-Up? -- by a company (Anchor Land) with roots in Chinatown - controlled by the Li/Lee family


ALHI (AnchorLand) vs. ALI (AyalaLand) ... 5-yr : 2-yr :



Anchor Manila Chinatown landscape


Anchor Land's projects: http://anchorland.com.ph/projects/current-projects/


The world’s oldest Chinatown is located at the center of Binondo, a district of Manila, sitting on the northern banks of the Pasig River. It is also often said that Binondo is the Philippines’ first true central business district, a bustling area since the Spanish times, where many of the country’s business and commercial activities, run by Filipino-Chinese businessmen, thrived.

To this day, Binondo remains home to many Chinese tradesmen and is an important area for trade. Unlike Makati and Bonifacio Global City, the district retains much of its old charm. It is not uncommon to see horse-drawn carriages or kalesas run side by side with luxury vehicles in the district’s narrow, winding streets, while hole-in-the-wall Chinese eateries and fruit stalls are set beside jewelry stores and financial institutions – demonstrating the bustling economy and affluent community residing in this cultural, historic city.

Binondo’s rich heritage, dynamic industry, and high demand for space has made it a prime real estate location. The property developer Anchor Land Holdings has directly contributed to this, by building high-end residences in the area. Recognizing the demand for these as early as 2004, Anchor Land established a foothold in Binondo, sparking the process of rebirth that established it as the premium enclave.


“The biggest real estate players at the time were focusing on the Makati central business district area, and residential developments in Chinatown were more on low-rise and mid-rise apartments owned by individual or small-scale companies,” said Anchor Land Holdings CEO Steve Li.

Having seen the opportunity, the company introduced its first project – the 33-story residential development Lee Tower. Aside from offering residents the advantage of living near their businesses, it also provided luxurious amenities and facilities once considered to be rarities in Binondo.

Since the Lee Tower, Anchor Land has continued to strengthen its mark in Chinatown with several developments. Among these are Mandarin Square and Wharton Parksuites, which have well-designed façades that have become landmarks in the area, as they changed the skyline of Chinatown. Also, these are modern, high-rise luxury condos in strategic locations, offering clubhouse amenities and units tailor-fit for Filipino-Chinese families.

Binondo promises more growth as the market continues to expand. “We still see a very strong demand in Binondo area. Sixty percent of Anchor Land’s clientele are from the Filipino-Chinese community. We expect the demand to grow stronger as more Chinese from mainland China come to the Philippines to put up and manage their own businesses. As a company deeply rooted in Binondo, we will definitely continue to invest and strengthen Anchor Land’s presence in the area and take part in the ever-evolving real estate landscape of Chinatown,” said Li.


> http://www.lamudi.com.ph/journal/guest-post-transformation-manilas-chinatown/

> http://anchorland.com.ph/wp-content/uploads/2016/11/ALHI-Annual-Report-2014-WEB-2.compressed.pdf

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Chinatown New Year countdown led by Erap, China envoy
Rappler-27 Jan 2017

Manila Mayor Joseph Estrada together with the Chinese Ambassador to the Philippines Zhao Jianhua led the new year's eve countdown at Plaza San Lorenzo Ruiz.

After a grand fireworks display and the traditional dragon and lion dance, the two leaders distributed tikoys (rice cakes) to the thousand-crowd gathered for the occasion.


IN PHOTOS: Chinese New Year in world's oldest Chinatown
Rappler-28 Jan 2017
MANILA, Philippines – Hundreds of people gathered in Binondo, the world's oldest Chinatown, on Saturday, January 28, to witness and take ...
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Q&A, re: Chinatown Property - Email questions, #1


Very interesting indeed. How does the prices and last few year's price performance for these apartments in and around Chinatown compare with those around Makati or BCG? Are the expected rental yields comparable? Which areas and projects do you think will perform the best over the next couple of years?

To be honest, I do not think that the argument for buying in PH-Chinatown is extremely strong right now - unless it is for "own use." If you want to live there, you can buy something which suits your actual living requirements, and hold for the long term. My expectation is that prices (generally in Manila) will drift lower or stagnate during 2017 and 2018 BECAUSE OF THE EXCESS SUPPLY. And then maybe bottom in 2019 or 2020. (see detail on the "Bubble Thread".)


The basic problem is excess supply. In several parts of Manila, expected completions will add 20% or more per annum to available supply in 2017-18, and this will not easy to absorb within just 2-3 years. It may take longer, and flats may be vacant or achieve a disappointing rental returns while the owner is waiting for a good tenant who will pay his targeted rent.


I do not have hard data for Chinatown/ Binondo, but have heard anecdotal stories about people using their investment flats to store trading goods, suggests that they are not so easy to rent. One guy who lived in the Binondo area, attended one of the Meetups that I frequent, He said his sister is a property agent and that several flats owned by his sister's clients were being used to store goods. And it is not only because good tenants are hard to find, but there is also a shortage of warehouse space for the shops and traders who sell at the local markets. I think demand may rise over time, along with the revitalization of the Chinatown area. And perhaps as business contacts grow, more mainland Chinese will also be attracted to the area.


However, one should ask: Will mainlanders be better tenants, or better customers for buying new flats?

Maybe the latter. Mainland Chinese like to buy flats in Hong Kong, and leave them empty for most of the year. If they display the same habit in Manila, then developers with units to sell may be very eager to find such buyers - since they may not be yield sensitive. Eager developers may even help the Chinese buyers find ways of moving money to PH, and cope with the timing and delay issues that Chinese buyers often have. One friendly agent told me that his last 10 sales had gone to mainland buyers, and in order to close the sales he had made some suggestions, or sought more flexible payment schedules so that the Chinese buyers could cope with possible delays in moving currency.


Price Levels?

When I did look at sales prices in Chinatown they seemed to be clearly below Makati / BGC prices - like 20-25% lower.

It surprised me a little that prices were even that high, because prior to full revitalization, the area is not as physically attractive as Makati or BGC. However, there is a lot of wealth in the hands of Filipino Chinese, and many of them have family and/or historical ties to the area, or may want to own flats there or live live there for cultural reasons, or for access to the specific restaurants and health clinics.


If you are a traditional Chinese trader, there may be good business opportunities within the area, but a non-Chinese may find significantly better employment opportunities in thriving CBD's of Makati/BGC, which are the financial center for the country. Getting from Binondo to Makati could easily take one hour or more in rush hour.

833559424_2_644x461.jpg?bucket=01 : more images


(Pricing Example)
Noble Place - the original expected date of turnover was March 31, 2017

Units range from a studio 38sq.m. in size up to as big as a 5bedroom unit with floor area of 195 sq.m.
Original pricing (about mid-2013 / q2-2013, when makati was 128.7k; BGC; 127.6k):
Price range is from about 85k/sqm. to 107k/sq.m, say 95k average?. - that's a healthy discount of about 25%


Recent pricing (early 2017, per OLX), maybe P 110k, which still about 25% below Makati's P.146.5k psm level
Noble Place (few units left): Turnover is on 2018
P 4,000,000 : Pre-Selling 40 sqm studio unit, brand new, 4 years to pay with 0% interest and very flexiblle payment terms.
> Wilmer Go, Manila: https://www.olx.ph/item/pre-selling-condominium-in-binondo-noble-place-ID7N2mK.html?h=6b5d174baf
Studio: 38sqm to 40sqm at Php4.4M : 4.4m /40 = P 110k
1 Bedroom: 53.50sqm to 57sqm at Php6.2M : 6.2m / 57 = P 108.8k
2 Bedroomn: 74.20sqm to 118sqm at Php8.5M : 8.5m / 74.2 = P 114.1k
3 Bedroom: 113sqm to 149.60sqm at Php12.8M
> Property-24: https://www.olx.ph/item/condominium-for-sale-in-binondo-ID7I4De.html?h=df48ba3b40
If we take P 110k as a representative price, that's 25% below Makati


If you are convinced that the revitalization is going to continue to improve the living environment, and you want a base in an interesting and historical part of Manila, this could be a cheaper alternative to paying high Makati / BGC prices.


Lack of clear Market Signals
The PH property "selling machines" are well-oiled and working well. All the developers have teams of people who help them to sell property. If you visit a mall anywhere in Manila, you will be confronted by people with brochures, showing you various appealing images of property for sale. They will tell you about the "low" monthly payment to secure a property. (The summary numbers they first show you do not normally reveal the selling price, or the price per square meter, just a monthly payment.) These aggressive selling agents have allowed Property developers to go on pushing up prices, at perhaps 8% per annum, while Rents are stagnating, and even falling in some cases. But if you ask, what's the Yield? Then 80-90% of the agents will stare at you blankly, not understanding. Those few who do understand will give vague answers like: "you can expect to rent out at P1000psm, depending on how you furnish it." In one case, when I did check on the assumed P1000 psm guess, I found bare units offered at P600-700psm, and P700-900psm for furnished flats. (this was outside Makati/BGC.) This is a big difference, and the much lower yields undermined the investment case; especially given the excessive supply coming over 2017-18.


The PH property market is characterized by a lack of transparency. It is very different from Hong Kong, where data is readily available on recent transactions, and the big agents are all expected to provide it. PH Property buyers do not really know the actual prices of sales in the secondary market, and they do not know the actual Rental levels. Consequently, most people are nearly market-blind and are relying on limited information, misinformation, and/or false signals. The buyers are often OFW's, based outside country, buying the best property they can afford (through monthly payments), expecting in 3-5 years, when it is completed - that they will be able to rent it out at the level the selling agent told them "you can expect" - but the actual level may be 20%, 30%, or 40% lower, assuming they can find a good tenant at all. Even now in what I think is a post-peak market, most of them are NOT getting the signal that rents are under-pressure, so they go on buying at higher and higher prices. At some stage, reality must be faced, and the gap between inflated hopes and reality will collapse, and people will realize they have been fed on Hopium, not solid information. There may be a shock, and an abrupt adjustment of buying demand. I am expecting this to happen in 2017. And the bubble may burst at a high profile project, like Trump tower. This project should turnover during 2017, and it is one where the gap between high purchase prices, and (much lower) achievable rents may be one of the biggest gaps. (At first they may try and blame the new President for the low rents, but it is actually the weak market that will be to blame. Even if Trump Tower is a big success, as some have predicted, it will suck tenants out of neighboring buildings, and may cause Rental yield shocks for landlords of neighboring buildings at Century City. Take a look at the 5-year stock price of CPG/ Century Property Group, and you will see I am not the only one with concerns like this. ALI, MEG and FLI have very different charts, mostly rising over 5 years.)

If you want to buy for investment, I suggest you wait for the Bubble of Inflated expectations to burst. After that, Sellers may be more realistic in the prices they are asking, and near the low: people may be using more realistic (and lower!) assumptions about what rents are achievable. I am also hoping that PH developers may become less aggressive and launch fewer new project and delay several of those underway. That would help give time for Demand to catch up with the big jumps in Supply that are already happening. In a world of deflated rental and resale expectations, the builders will have real trouble in convincing buyers to believe the old narrative of perpetually rising prices. When people know there is a downside, they are more careful, and real bargains can be found.

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I think Noble Place will be an iconic top end development for Chinatown.


But there are also some other new projects going up:


World Trade Exchange (with Noble Place starting in front - Princeview - Noble Place

+ Sky Residences - 38 stories, nearly next door to Noble has only bigger cuts, with either one or two flats per floor, the 96 SQM 2 BR flats are about P 110k psm. And the larger flats (5 BR?) occupying a whole floor (top foors) are about P 130k-135k psm. The tower will complete within about one year, and I understand they have sold five units so far. I did not like the showflat units as much as what I saw at the Nobe showroom. The developer, MCY is owned by a Filipino-Chinese, but was not well known to me.

+ Princeview Parksuites, from DMCI and AnchorLand is about one block away (and will occupy a slice of the view of NP's O,P, and Q units). I did not visit the showroom. It is on a smaller footprint, and the area around it is more dense. but the view from high floors may be very nice.



+ Four Seasons- Riviera, from Federal Land, has started marketing in 2017 - but not construction (as far as I could tell). Federal Land is controlled by a Filipino Chinese (George Ty), who owns several properties in the area, and is likely to be an enthusiastic participant of efforts to revitalize Chinatown

Other area buildings:
+ World Trade Exchange is across the street from Noble Place, and is about 30 stories high. Maybe 10 years old, it is an office building. Very dark in the lobby, but does look modern.


Cobankiat Building, formerly home of the Manila Stock Exchange



+ Some Older, high style buildings in the area look like they are abandoned - having been built maybe 100 years ago, to a high style. : BinodoBldg2 :

It would be a great shame to tear them down, but they will need extensive renovation, and upgrading.

At least one of them, immediately next to Noble Place looked like it was occupied by squatters.

If this had a good renovation it, could be a real asset for a revitalizing area.



Noble Place and World Trade Exch. from the BPI branch on Plaza Cervantes ........ Noble Place from another angle (Juan Luna Street?)

+ Old banks- there are many in the area. They seem to be in business. I was there on a sunday, and so was not sure, but they looked like functioning office buildings. I did see one new bank branch opening, or recently opened next to Princes Tower.

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