Property Boom Reshaping Philippine Skylines
The Peninsula Hotel off-limit rooftop overlooking the Makati skyline, Manila, Philippines
As a Philippine property boom gathers pace, even Paris Hilton, Donald Trump and high-fashion house Versace are getting a piece of the action
It said many of the residential units catered for a growing middle-class on the fringes of Manila and other urban centers.
The building boom has also spread to hotels, shopping malls and casinos, triggering hopes of a long-anticipated take-off of the underdeveloped tourism industry.
Three of the world’s biggest gaming industry leaders are building a $4-billion, 100-hectare Entertainment City complex of casinos on Manila Bay. The first of the casinos are set to open early next year.
Meanwhile, Trump, the New York mogul, has put his name to a $150-million, 56-storey, curtain-glass-walled Trump Tower that broke ground in the financial district this year.
The firm is putting up a nearby tower designed by the Versace fashion house — the first of its kind in Asia — featuring individual wading pools as well as its iconic Medusa-head brand imprinted on lamp shades and cutlery.
Century also flew in socialite and hotel heiress Hilton to Manila in 2011 to help design and promote a suburban Manila residential project that features a man-made beach.