Does this mean BGC is the new CBD?
“The Hong Kong-based parent of the Mandarin Oriental hotel and landlord Ayala Land are in advanced state of negotiations to cut short the luxury hotel’s property lease, according to the increased industry chatter from Makati and Hong Kong,” reports Victor C Agustin in his Cocktales column on InterAksyon.com.
Citing the current buzz from the local business community, the report claimed that “Ayala Land will offer Mandarin Oriental a comparable-sized property that is within walking distance from the future Philippine Stock Exchange headquarters in Bonifacio Global City, Taguig.”
Although Mandarin Oriental’s lease is still good up to 2026, its parent company the Jardine Matheson Group wants, it to relocate so it can draw its own share of the new hotel crowd.
According to Cocktales, “lawyers from the Mandarin Oriental and Ayala Land are finalizing the termination agreement, including the required regulatory filings.”
They’re expected to make a formal announcement by mid-year.
Photo from the Mandarin Oriental Manila website
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