A joint venture between two of the country’s top business families is soon giving birth to the rise of the Philippines’ tallest building in Makati City.
Pioneered by SM Prime Holdings and Federal Land Inc., the unnamed project is estimated to be worth at least P5 billion, the Inquirer reports.
The luxury residential tower will rise on a 3,500-square meter lot along Ayala Avenue, right in between Ritz Towers and Discovery Primea which is tied for the country’s second tallest building at 250 meters.
According to Federal Land President Pascual Garcia II, the towering project will stand at around 270 meters.
This will make it higher than the PBCom Tower located at the Makati Central Business District, which is currently the country’s tallest building standing at 259 meters with 52 floors.
Garcia also said this will be the most luxurious residential apartment in the country that will be worked on by internationally renowned British architect Norman Foster.
Some of Foster’s works include the Hong Kong International Airport, Singapore’s Expo MRT Station, the Deutsche Bank Place in Sydney, Australia, and the Hearst Tower in New York City.
In terms of luxury, they will only offer a limited 180 units for the most affluent. This translates to roughly 27.7 million per unit if just basing on the estimated project price.
The massive project is expected to launch somewhere between the end of 2017 or the first quarter of the next year, and will serve as a tribute to the legacies of SM founder Henry Sy and Federal Land founder George Ty.