by FORBES
‘Queen Of The Curve’ Starchitect Zaha Hadid passes away at 65
Century Properties Group, Mitsubishi Corp. Break Ground For Forbes Media Tower In The Philippines
by FORBES
The groundbreaking event follows the announcement of the two firms to develop, lease out, and maintain the world’s first Forbes-branded commercial building through a joint venture agreement.
Held at the site of Forbes Media Tower® in Century City on Kalayan Avenue, the ceremony was attended by Century Properties and Mitsubishi Corporation executives, including Jose E.B. Antonio – Chairman and CEO, Marco R. Antonio – Chief Operating Officer, Robbie R. Antonio – Managing Director, and Ricardo P. Cuerva – Director and Head of Construction.
Mitsubishi Corporation’s presence was led by Takuya Kuga – Division COO for IFLD, Masahiro Nagaoka – Deputy General Manager Mitsubishi Corporation Manila Branch, Kiyoto Asari – Manager of ASEAN Team, Real Estate Development & Construction Division, Yoshio Amano – General Manager for Manila, Dennis Macalisang – Senior Assistant Manager Industrial Finance Logistics & Development Division, and Ms. Jade Ilagan – Jr. Accounting Officer.
The Forbes Media Tower® project will be undertaken by Century City Development II Corporation (CCDCII), of which CCDC and Mitsubishi have 60 percent and 40 percent ownership, respectively.
The agreement stipulates that CCDCII shall finance the projected USD $100 million (Php4.5 billion) total project cost through USD $51 million (Php 2.3 billion) of equity from CCDC and Mitsubishi, and a 10-year, USD $49 million (Php2.2 billion) senior loan granted by the Bank of Philippine Islands (BPI).
In November 2015, CCDC II and Mitsubishi Corporation signed the loan facility with BPI as lender. Proceeds from the said senior loan agreement will be used to partly finance the P4.5-billion Forbes Media Tower®. The balance of P2.3 billion will be funded through equity contributions of 60 percent from Century Properties and 40 percent from Mitsubishi Corporation.
Related Links: About Robbie Antonio , Contact
Philippine’s Robbie Antonio Takes Designer Home Building Global
I recently caught up with Robbie Antonio. He is a brand expert among other talents that range from philanthropy, art and also a very skilled entrepreneur. Robbie and I worked on the first ever Forbes Media Tower that he is currently building in Manila and since then he has been a force to be reckoned with on a number of fronts. He was kind enough to share about his new venture and his other initiatives.
Robbie Antonio and I at Forbes Media Tower signing ceremony Manila, Philippines.
Forbes: You have accomplished a great deal in real estate and many other ventures in the Philippines. Please tell us about this and what your formula for success has been?
Antonio: In my case, it is persistence; creativity and a bold entrepreneurial spirit that helped me reach my career goals. When I started Antonio Development in New York to build the Centurion condominium (the only ground up residential project in the world designed by legendary I.M. Pei), I had to understand one of the most complex real estate markets in the world, meet the players, and compete ferociously. This valuable experience prepared me for what I would later be doing in Century Properties, which was to differentiate the company via securing international partnerships with global brands. It is evident that possessing the most developments associated with fashion brands (Armani, Hermes, Versace, Missoni) in the world, coupled with initiatives with major designers such as Philippe Starck, and positioning Hollywood celebrities have been a compelling value proposition in developing markets.
Forbes: You have been very active in philanthropy for a number of years. What are some of the initiatives that you are currently sponsoring and planning for in years ahead?
Antonio: For a couple of years now, I have sat on the board of Operation Smile, the international organization dedicated to helping children born with cleft deformities. This includes raising funds to expedite surgeries and raising awareness for the cause. The Philippines has been hit by some natural disasters last year. As a local company with expertise in development, I felt it was incumbent upon us to offer help in this fashion. It was important to assist in Shugeru Ban’s disaster relief project to build temporary shelters in Cebu, Philippines.In addition, Century Properties together with Open Online Academy are currently working on post-disaster architectural design for resilient schools and emergency shelters. Instead of an interim solution we decided to jumpstart a game-changing advocacy that will help make a difference in how we build tomorrow’s homes, schools and structures.
Forbes: You are also a patron of the arts. Do you support any local Philippine emerging artists that you can tell us about?
Antonio: I’m thoroughly interested in raising greater consciousness in art among the international and local community. As a patron of the arts, design, culture, and fashion, I have set up the Stealth Foundation where promising artistic careers in the Philippines are nurtured. Internationally, I have been involved as committee board member at the Whitney Museum as well as the Guggenheim Museum. Most importantly, I have collaborated with seven Pritzker Prize architects in various philanthropic/architectural/art initiatives because these people inspire emerging architects and their projects serve as cultural beacons to the community.
Forbes: What are some impact investment opportunities in the Philippines? Meaning business opportunities that also provide material social benefits with self-sustaining profitable going concerns?
Antonio: An industry with social benefits in terms of job generation is the office sector, particularly in Business Process Outsourcing and IT. The last decade has been a particularly wonderful period in that more companies have been setting up shop on our shores, leading to more employment and of course, more demand for office space. The property sector is responding, the way we did when we set to do our office developments: Century Spire (interior designed by Armani Casa), Asian Century Center (with BMW Philippines), and of course, the Forbes Media Tower – a deal our firm aspired to ensure the country would have the first announced tower in partnership with the most formidable business media empire.
Related Links: About Robbie Antonio . Contact