The Bank of the Philippine Islands (BPI) held on Tuesday, March 15, its groundbreaking ceremony for a new 45-storey headquarters that highlights an iconic and timeless design that will feature the latest technological and ecological innovations.
The building will house BPI’s headquarters and main branch. It will be a mixed-use property with retail spaces, event venues, landscaped spaces, and seven basement parking levels.
“Today, we broke ground and officially launched the redevelopment of our new headquarters, and at the same time, symbolically laid the groundwork for our future plans toward building a better Philippines,” said BPI president and CEO Jose Teodoro “TG” Limcaoco.
“We are transforming our headquarters into a bigger, better, more sustainable, and inclusive building as we pursue bold moves to become the undisputed banking leader that is responsible and sustainable at the same time,” Limcaoco added.
An estimated 1,800 new jobs are expected to be generated directly from the construction project. The estimated investment cost of the complex is P 13.6 billion.
The project will be a co-development between BPI and Ayala Land Inc. (ALI) where each party will have a respective share of 51% and 49% of the entire development.
Aside from Limcaoco, other top executives from BPI, Ayala Corporation, Ayala Land, and the local government took part in the event. They included Ayala Corporation (AC) and BPI chairman Jaime Augusto Zobel de Ayala, AC president and CEO Fernando Zobel de Ayala, BPI board member Cezar “Bong” Consing, BPI chief operating officer Ramon “Mon” Jocson, BPI EVP and head of corporate banking Juan Carlos Syquia, Ayala Land Inc. (ALI) president and CEO Bernard Vincent “Bobby” Dy, ALI vice president and Ayala Land Offices head Carol Mills, Makati Development Corporation president and CEO Dan Abando, and Makati City mayor Abigail “Abby” Binay.
As part of BPI’s sustainability agenda, EDGE, LEED, and WELL certifications by leading institutions for authenticating sustainable and environmentally friendly buildings will be sought for the new headquarters.
The building itself will have an energy-saving, 100-percent glass facade. Located at the heart of the Makati Central Business District at the corners of Ayala Avenue, Paseo de Roxas, and Dela Rosa, the masterplan maximizes land efficiency while providing a generous civic space that seamlessly connects to Makati’s underground and elevated walkways.
The plan was conceptualized by global design firm Skidmore, Owings & Merrill (SOM), in collaboration with the architect-of-record, Aidea Philippines Inc. It will have a land area of 5,599 square meters, a gross floor area of around 89,000 square meters, and a gross leasable area of around 60,000 square meters.
Construction of the headquarters complex is expected to be completed in the fourth quarter of 2029, while the opening of the building is expected in 2030.
