MANILA, Philippines – Ayala-led Bank of the Philippine Islands (BPI) on Tuesday, March 15, held a groundbreaking ceremony for its headquarters in Makati City, which will boast sustainable structures and a cultural hub.

Located at the heart of the Makati central business district, on the corners of Ayala Avenue, Paseo de Roxas, and Dela Rosa Street, the mixed-use property will have a 45-storey tower which will house BPI’s headquarters and main branch. 

The building, which has yet to get an official name, will have an energy-saving glass facade.

“We are transforming our headquarters into a bigger, better, more sustainable, and inclusive building as we pursue bold moves to become the undisputed banking leader that is responsible and sustainable at the same time,” said BPI president and chief executive officer Jose Teodoro Limcaoco.

The development has a gross floor area of 89,000 square meters for retail spaces, event venues, landscaped areas, and seven parking levels.

With a construction cost of P13.6 billion, the tower is a co-development between BPI and sister company Ayala Land (ALI), where the companies have a share of 51% and 49% of the entire development, respectively.

Construction is expected to be completed by the fourth quarter of 2029, while the opening is targeted to be in 2030.

Asked about the long construction time, ALI president and CEO Bernard Dy said the development is located along one of the busiest streets in Makati, which means more safety considerations.

BPI demolished its previous 39-year-old headquarters in 2018. Staff moved to various BPI offices across Metro Manila. – Rappler.com