Philippine Stock Exchange Tower | |
---|---|
General information | |
Status | Completed |
Type | Office |
Location | One Bonifacio High Street, 5th Avenue cor. 28th Street, Bonifacio Global City, Taguig, Metro Manila, Philippines |
Coordinates | 14°33′05″N121°02′49″E / 14.55133°N 121.04708°E |
Construction started | 2012 |
Completed | 2017 |
Cost | ₱ 3.5 Billion |
Owner | Philippine Stock Exchange |
Height | |
Roof | 114.41 m (375.36 ft) [1] |
Technical details | |
Floor count | 30 |
Floor area | 41,389 m2 (445,507.49 sq ft) |
Lifts/elevators | 10 |
Design and construction | |
Architecture firm | Handel Architects together with Leandro V Locsin Partners. and GF & Partners Architects. |
Developer | Ayala Land Premier |
Main contractor | Makati Development Corporation (MDC) |
References | |
[2] [3] [4] [5] |
The Philippine Stock Exchange Tower is an office skyscraper in One Bonifacio High Street, Bonifacio Global City in Taguig. The building has 30 floors above ground level. It serves as the new headquarters and unified trading floor of the Philippine Stock Exchange.
It was designed by US-based Handel Architects, in collaboration with Leandro V Locsin Partners and GF & Partners Architects. [4] [2] The building is characterized as an all-glass, grade A level building. [3] It is occupied by the stock brokers and trading managers of the PSE.
The construction of the PSE Tower was originally planned in 2004, as part of the stock exchange's plans to unite the exchanges under one building, but hurdles such as location planning, naming rights, and the building's design put this plan on hold until 2008. One noted example of the planned designs featured renders inspired from the Commerzbank Tower in Frankfurt, Germany, which was designed by Skidmore, Owings & Merrill, and was planned to have a height of 229 m (751 ft). The building became part of the One Bonifacio High Street Project, a 2.35-hectare (5.8-acre) high end mixed-use development located in the northern area in Bonifacio Global City (BGC), which comprises the Philippine Stock Exchange Tower, The Suites at One Bonifacio High Street, the Shangri-La at the Fort, and the One Bonifacio High Street Mall. [6] [7] The entire high end complex costed a total of ₱30 billion. [8] [9]
The building was built on a property donated by Fort Bonifacio Development Corp. to the PSE. The PSE then gave its rights to the donated property to Ayala Land Inc. in exchange for several units in the new building. [10]
Groundbreaking was initially planned in January 2009, and is planned to be completed in 2012, yet the groundbreaking was held in 2012, and the tower was topped off in 2017, before being opened in February 2018. [11]
Although smaller than the previous trading floors, due to the trend of trades became more computerized, the PSE Tower has a 695 m2 (7,480.92 sq ft) unified trading floor from both traders of the Exchange Plaza in the Makati Central Business District and the Philippine Stock Exchange Centre at the Ortigas Center, in Pasig City.
On 24 June 2022, the unified trading floor was closed, as PSE President and CEO Ramon Monzon stated that since the tower's opening, only 85 of 132 active trading participants availed for booths and dealer rooms on the trading floor. Another factor that was observed was during the closed face-to-face trading sessions caused the COVID-19 community quarantines in the country, the lockdown prompted traders to integrate their systems to the PSE's online trading platform, which led to further improvements on the digitization of trades within the exchange. As the lockdown measures decreased in the middle of 2021 to early 2022, only 29 of the 85 remaining trading participants opted the use of the trading floor, which prompted the PSE to fully close the trading floor, and will be repurposed for mixed-use activities. [12] [13]
The present trading floor was repurposed into a events hall on 29 May 2023. The events hall also maintained the usage of the trading bells and ticker screens while renovations were made, which features a new LED market board displaying the stock exchange's overall trading data, graphs, and prices, and replaced the former hanging LED screen. The hall also serves as a venue for initial public offerings, follow-on offerings, stock rights offerings, and other events. The opening of the events hall was graced by PSE Officials, government officials, and other executives. [14] [15]
Th PSE Museum is museum located within the tower. The museum features records, archives and other historical pieces of the PSE, allowing visitors to look back at the history of the Philippine Stock Exchange from its foundation in 1927. [16]
The tower also houses retail shops in the mezzanine and ground floors, [16] and is directly connected to the One Bonifacio High Street Mall, a 23,000 square meters (250,000 sq ft) mall currently occupied by fashion brands and food choices. [17]
Makati, officially the City of Makati, is a highly urbanized city in the National Capital Region of the Philippines, known for being one of the leading financial centers in the country. As of 2013, the city has the highest concentration of multinational and local corporations in the Philippines. Major banks, corporations, department stores as well as foreign embassies are based in Makati. Makati is also known for being a major cultural and entertainment hub in Metro Manila. According to the 2020 census, it had a population of 629,616 people, making it as the 47th most populous city in the country and ranked as the 43rd most densely populated city in the world with 19,336 inhabitants per square kilometer or 50,080 inhabitants per square mile.
Taguig, officially the City of Taguig, is a coastal city located in eastern shores of Metro Manila. It is the fifth-most populous city in the Philippines with a population of 1.2 million people. The city is one of the Philippines' cultural, financial, high-tech, entertainment and media centers with significant influence on commerce, health care, research, technology, education, politics, tourism, dining, art, fashion, and sports. Taguig is also an important center for the country's international diplomacy, hosting several embassies. The city also home to the headquarters of several major multinational corporations. Taguig has the fourth largest skyline in the Philippines, with 289 high-rises, 80 of which exceed 100 m (328 ft).
The Philippine Stock Exchange, Inc. is the national stock exchange of the Philippines. The exchange was created in 1992 from the merger of the Manila Stock Exchange and the Makati Stock Exchange. Including previous forms, the exchange has been in operation since 1927. The PSE's headquarters is located at the Philippine Stock Exchange Tower, located along the One Bonifacio High Street complex in Bonifacio Global City.
Bonifacio Global City is a central business district and major financial hub located in Taguig, Metro Manila, Philippines. It is located 11 kilometers (6.8 mi) southeast of the capital city of Manila. The district experienced commercial growth following the sale of a 440 ha military base at Fort Bonifacio by the Bases Conversion and Development Authority (BCDA). The entire district used to be the part of the main Philippine Army camp.
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SM Aura, is a large upscale shopping mall located at 26th Street corner McKinley Parkway, Bonifacio Global City, Barangay Fort Bonifacio, Taguig, Philippines, owned by SM Prime Holdings, the country's largest mall developer. It is the 13th SM Supermall in Metro Manila and 47th SM Prime mall in the Philippines. It was the 2nd SM Supermall to be called "Premier" after SM Lanang. The shopping center is situated near its rival mall Market! Market!, owned by Ayala Malls, a real estate subsidiary of Ayala Land, and affiliate of Ayala Corporation. It is designed by EDGE Interior Designers and Arquitectonica.
Market! Market! is a shopping mall complex developed by Ayala Land, the real estate subsidiary of Ayala Corporation on a lot leased from Bases Conversion and Development Authority, a government-owned and controlled corporation, and is operated by its subsidiary, Ayala Malls. It is located at McKinley Parkway, Bonifacio Global City, Taguig in Metro Manila, Philippines. Groundbreaking was conducted in August 2002 and it was opened on September 16, 2004. The mall is aimed at the middle market unlike other Ayala malls which caters to the upper socioeconomic class.
Megaworld Corporation is a real-estate company in the Philippines. It is listed on the Philippine Stock Exchange Composite Index. The company develops large-scale, mixed-use, planned communities incorporating residential, commercial, educational, and leisure components. In addition, it provides other services such as project design, construction oversight, and property management. Among its landmark projects is Forbes Town Center, a 6-hectare commercial and residential district in Fort Bonifacio, Taguig, Metro Manila. Another project by Megaworld is the 45-storey Petron Megaplaza office skyscraper, which was the tallest building in the country upon its completion in 1998. Also, last May 31, 2016, Megaworld announced that they will build two more office towers, 10-storey One Republic Plaza, and six-storey Emperador House, in Davao City. The two towers will provide an additional 30,000 sqm of office spaces for lease.
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The Bonifacio Transport Corporation, or more commonly known as BGC Bus or formerly The Fort Bus, is an intercity bus company in Metro Manila, the Philippines, serving routes that connect Makati and Bonifacio Global City, Taguig.
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