Aeon Towers construction updates out

Construction is going round-the-clock for the next iconic structure in Davao’s landscape—Aeon Towers.

Passing through the busy JP Laurel Avenue, one will never miss the towering structure—33 levels to be exact–that’s touted as the next tallest building in Mindanao.

Things are really looking up. The signature project of homegrown developer FTC Group of Companies is now more than 70 percent complete.

New images released by the construction team revealed the works done in the building after it topped off officially last February 28.

Aside from the construction developments on site, Aeon Towers has likewise sealed a deal with a global investment firm that had bought in bulk 288 units in the 33-level high-rise development to operate apartment units and a hotel.

The building is being eyed to be fully finished by December this year or January next year.

“We are targeting to turn over the units in December this year. Only a few remaining units are on sale,” Cruz, FTC’s CEO and president, said.

FTC Group of Companies recently signed a landmark transaction with Altus Hospitality South, Inc., a joint venture hospitality investment company between Altus Capital Corporation and Private Equity capital, via a fund from Singapore.

The investment company is managed by Altus Capital Partners, an affiliate of the World Bank Group’s International Finance Corporation.

The deal involves the bulk purchase by the company of units at Aeon Towers, a new mixed-used residential and commercial tower, which at 33 floors is set to become the tallest skyscraper in Mindanao. Designed by Syndicated Architects Far East Associates with Ian Campbell and Associates as project and construction manager, Aeon Towers will boast a 144-key Hotel and 144- Residence serviced apartment (both operated by Altus Hospitality) coupled with a 197-room high-end residential condominium; over 2,000 sqm of prime retail space, and at over 1,000 sqm, the largest grand ballroom in Davao.

The investment is a sign of confidence by the international investment community in FTC Group of Companies, a Davao-grown firm with diverse business interests.

Aeon Towers is a mix-use 33 storey building development of F.T.C Group of Companies with a total project cost of P3.1 Billion. Aeon Towers will also house world-class amenities and it’s strategically located at the Central Business District (CBD) of Davao City.

With a total land area is 4,574 square meters, Aeon Towers will house 473 units parking slots of 300 and commercial spaces will be located in the ground floor to 5th floor. The seventh floor to 10th floor will be allocated for the hotel component while the sky deck is at the 33rd floor.
Campbell said the building boasts of earthquake resistant features.