MANILA, Philippines — Telco giant PLDT Inc. is pushing through with the redevelopment of its Makati properties in partnership with the real estate arm of Japan’s NTT. PLDT chairman and CEO Manuel V. Pangilinan said the properties include the Ramon Cojuangco Building along Makati Ave. and the Makati General Office Building in Legazpi Village. PLDT wants to redevelop the properties in Makati in order to construct and move to a new headquarters. PLDT announced last month that the company would sell some of its real estate assets to lessen its borrowings for its capex initiatives. In the first quarter, PLDT spent P12.2 billion for capital expenditures, higher than the P6.9 billion spent in the same period last year.

Source: Philippine Star June 12, 2019 16:00 UTC