PLDT eyes redevelopment of Makati offices into modern towers

The management of telco titan PLDT is eyeing to redevelop the company’s headquarters in Makati City into more modern office towers.

PLDT chairman and CEO Manuel V. Pangilinan said he is set to meet with Japanese partner NTT Group next week to discuss the redevelopment of the Ramon Cojuangco Building located along Makati Avenue corner Ayala Avenue and its adjacent Makati General Office.

Pangilinan said the company envisions to build a new head office similar to those of technology companies in Silicon Valley.

“There has been internal meetings that focus on the debate about whether we stay as a vertical campus in which case it will likely be this area. These two buildings will be redeveloped into two towers we just have to design it in a way that is as green as possible and plenty of spaces,” he told reporters on the sidelines of the briefing on its financial results for the first quarter of 2019.

PLDT has selected a local property company for the redevelopment plan of its office.

“We will probably to house 6,000 to 7,000 people within the building so we will probably occupy the entire building. If there are two towers, we will probably sell the other tower,” said Pangilinan.

“I hope within a year we should make up our mind,” he added.

Meanwhile, PLDT chief financial officer Annabelle Chua said the company is looking into disposing some of its properties to generate around P3 billion to P4 billion as additional funding.

The funds generated from the asset sales may be used to finance the redevelopment of its offices.

PLDT has expressed intention to relocate its headquarters in Makati City to a sprawling two- to five-hectare property where it could put up a new “campus type” location for its member companies as early as 2013. — Aerol John Pateña (PNA)

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