MANILA, Philippines – The Bank of the Philippine Islands (BPI) is planning to demolish its 39-year-old headquarters in Makati City to rebuild a larger space for its bigger manpower.
On the sidelines of the Ayala-led lender's annual stockholders' meeting on Thursday, April 19, BPI president and chief executive officer Cezar Consing told reporters that they will start demolishing their headquarters at the corner of Ayala Avenue and Paseo de Roxas next year.
"We've actually started, we're vacating, and then next year, we'll start tearing it down and then we'll build on this site again," Consing said.
While the construction is ongoing, the BPI chief said his staff will likely be moved to various BPI offices across Metro Manila, like those in Makati City, TriNoma in Quezon City, and Alabang in Muntinlupa City.
Consing said BPI's new headquarters is expected to be completed in the next 3 to 4 years.
"We don't have the architectural plans yet, but we obviously plan to maximize it," he added, without divulging the earmarked project cost.
BPI is now the Philippines' 3rd largest lender in terms of assets, which were valued at P1.636 trillion as of 2017. – Rappler.com