Philippine exchange accepts gift of land

PUBLISHED : Tuesday, 13 October, 1998, 12:00am
UPDATED : Tuesday, 13 October, 1998, 12:00am

The Philippine Stock Exchange has agreed to accept a donation of property from Fort Bonifacio Development to house its headquarters and two trading floors.

The stock exchange plans to move its operations to combined premises in 2004 at Fort Bonifacio - the Manila redevelopment project being built by First Pacific and the Fort Bonifacio Development - giving it a much-needed boost.

It is understood from reports in the Philippines that Fort Bonifacio Development's plan will include either a 2,100 square metre parcel of land plus 250 million pesos (about HK$44.62 million) to construct a new building, or 12,000 square metres of space in a new office tower.