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Friday, March 29, 2024

Why Lucio Co wants Alphaland Tower

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Aside from the reduced price of less than P7 billion for the Alphaland Makati Tower from the P8-billion initial offer, billionaire Lucio Co has other reasons why he was keen on acquiring the property, one of the assets obtained by British fund Ashmore, when it parted ways with the Ongpin Group.

Sources close to the Filipino-Chinese businessman said another reason why Co wanted the office building is the property’s unique address in the Makati central business district, which is 6789 Ayala Avenue.

The address of the office building, which is in consecutive numbers, could mean positive upward momentum or upward trajectory.

Sources said Co is now in talks with real estate service companies for the lease of the building, with 48,000 gross leasable area.

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