Shang Properties is also a player in the residential market, with its portfolio of premium developments in the metro. It launched its first condominium project, Shang Grand Tower in 2002. The P2 billion, 46-story development was completed on time in 2006 and has been completely sold out since then.
Among the company's ongoing projects is One Shangri-La Place in Ortigas Center--its biggest development so far. One Shangri-La Place, which is expected to be finished by 2014, features twin towers with 1,304 units. It will be atop a six-floor retail mall that will house more than 150 shops, restaurants and other exciting establishments.
The robust sales of its residential projects has boosted Shang Properties' profits in 2012, as it reported P3.7 billion in revenues. Condo sales, in particular, increased more than five-fold to P2.05 billion, primarily because of higher bookings from One Shangri-La Place and better completion rates for projects.
Shang Properties, Inc. is the property development arm of the Kuok Group in the Philippines with core businesses in office and retail leasing and residential development. The Kuok Group is renowned worldwide for its luxury Shangri-La Hotels and Resorts and Kerry Properties.
The investments of the Kuok Group in the Philippines comprise four (4) Shangri-La hotels and resorts (Makati Shangri-La, Edsa Shangri-La, Shangri-La’s Mactan Resort and Spa, Cebu, and Shangri-La’s Boracay Resort and Spa) and Shang Properties, Inc., which is the property development arm of the group in the Philippines with core businesses in office and retail leasing, and residential development.
Shang Properties earns over Php1.5 billion in lease income annually through the Shangri-La Plaza mall in Ortigas Center and the Enterprise Center in Makati.
The group continues to achieve significant progress in its core businesses. The St. Francis Shangri-La Place has hit almost Php2 billion in gross sales; occupancy rates of Shangri-La Plaza and the Enterprise Center are in the high 90’s and consistently exceed industry standards.
You may contact us :
Level 5 Shangri-La Plaza
EDSA corner Shaw Boulevard
Mandaluyong City, Metro Manila 1550