Golden Bay Properties plans P1.3-B office building

MANILA, Philippines — A seafood restaurant company is diversifying its business as it is set to develop its first office project estimated to cost around P1.3 billion.

In a media briefing, Golden Bay Properties chief operating officer Jardin Wong said the 10-story Aspire Corporate Plaza would sit on a 3,500 square meter lot in the Bay Area, just behind the groups’s Golden Bay Fresh Seafood Restaurant along Macapagal Blvd in Pasay City.

Unlike most office buildings in the Bay Area, Aspire Corporate Plaza will be selling its office spaces instead of leasing it out.

This is in line with the company’s goal of helping Filipino-Chinese companies grow their businesses.

“It is our desire to offer our fellow Filipino-Chinese businessmen, especially in the Binondo area, the opportunity to own their own space rather than just leasing it,” Wong said.

“After our recent groundbreaking rites, we  realized there were many other entrepreneurs, not just Filipino-Chinese,  looking for office spaces they could call their own,” Wong said.

The company quietly broke ground for its maiden office project, and has since received interest from both Chinese-Filipino firms as well as pure Filipino firms on buying units of the upcoming project.

Aspire features a total gross floor area of 17,000 square meters and offers about 73 office units for sale.

Wong said prices for the office spaces start at P200,000 per square meter.

The building is set to be completed in two years.

Golden Bay Properties has partnered with Asya Design Partners, Sta. Elena Development Corp., D.A. ABCEDE and Associates, and Meinhardt Philippines for the development of the project.