SHANGRI-LA Hotel Asia Ltd. said its new project will rise at Bonifacio Global City in Taguig City at a cost of $250 million.

The hotel, Shangri-La said, will be completed in 2012.

In the foundation laying ceremony held Thursday at the project’s site, Shangri-La Asia Ltd. said the hotel will be more than 60-story high with 500 guestrooms and 234 apartments.

Eduard Kuok, president and chief executive officer of Shangri-La Asia, said the construction of the Shangri-La at the Fort is a “demonstration of our firm commitment to the Philippines.”

“Our presence and confidence in this market continue to grow with an expanding portfolio of business and leisure properties,” he said.

The size of the hotel’s guestrooms will range from 52 square meters (sq.m.) for a standard room to 260 sq.m. for a “Horizon Club” room, Shangri-La’s exclusive retreat for travelers.

The new hotel will also feature over 4,600 sq.m. of meeting and banqueting facilities, including a grand ballroom, junior ballroom, 11 function rooms, a boardroom, business center, individual teleconferencing room and a 350-sq.m. high-end outdoor-event area.

3 telcos buy time on access-charge cut

TELECOMMUNICATIONS firms have asked the National Telecommunications Commission (NTC) to give them 10 more days to file their comments on the reduction of NTC interconnection charges.

Raffles begins preselling for P81-M apartment units

EXPECTING to spend an estimated P4.5 billion in putting up Raffles Suites and Residences Manila, Kingdom Hotel Investment Inc. (KHI) began preselling units that would initially cost up to P81 million each.  

Shangri-La’s $250-M hotel to rise at Fort Boni

SHANGRI-LA Hotel Asia Ltd. said its new project will rise at Bonifacio Global City in Taguig City at a cost of $250 million.

ALLIANCE Global Group Inc. (AGI), the listed flagship of businessman Andrew Tan, is investing about P3.8 billion in an all-suite hotel in New Port City.

Eternal Gardens kicks off sales at Santa Rosa branch

Following the release of its license to sell late last month, Eternal Gardens Memorial Park signaled the start of its business in the progressive city of Santa Rosa by holding a festive sales launch.

Electronics firms ranked on efficiency

SHIFTING its focus from products to company practices, Greenpeace ranked the world’s biggest manufacturers of consumer Electronics on energy efficiency.

Not Business as Usual: A most loyal and competent man

FIRST, the good news. Intramuros Administration (IA) head Ana Maria Harper is currently negotiating with at least five foreign investors to put up a five-star hotel, where the old Ateneo used to be (read: where national hero Jose Rizal actually went to school).