Primex Corp. started the construction of its P3.6-billion office tower in San Juan City on Wednesday, July 11, banking on its prime location to drive demand for tenants.
In a statement issued Wednesday, the listed property developer said it has broken ground for the Primex Tower, a 50-storey office project that stands on a 1,944-square meter lot in the corner of EDSA, Connecticut Street, and Florida Street at the Greenhills commercial district.
Primex Tower will offer around 41,000 square meters (sq.m.) of leasable spaces with a cut of 200- to 300 sq.m each. Offices will be spread out across 37 floors, while 12 floors will be allotted for above-ground and basement parking.
The project—envisioned to be the tallest one in the city—is expected to be completed in the next four to five years. Primex’ subsidiary Primex Realty Corp. will take over its development.
“With the project, the company is looking to take advantage of increasing demand in the office and hotel sectors,” Primex Chairman and President Ernesto O. Ang was quoted as saying in a statement. — Arra B. Francia