Aeon Towers construction moving on track

CONSTRUCTION FULL SWING. The ongoing construction works of the interior structures of Aeon Towers.
CONSTRUCTION FULL SWING. The ongoing construction works of the interior structures of Aeon Towers.

Construction for the next iconic structure in Davao’s landscape Aeon Towers continue to move right on schedule.

With construction works going round-the-clock, the estimated turnover target between December this year to January next year is within sight.

The 33-level tower located along JP Laurel Avenue is touted as the next tallest building not just in Davao City but the entire Mindanao.

The signature project of homegrown developer FTC Group of Companies is now finishing up on the building’s interiors after its February 28 topping off.

The construction team has released new updates that revealed the works done in the building after it topped off.

Significantly, 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. This meant increased value in the property.

Aeon attracted the investors after seeing its potentials.

“Our investment partners reviewed and went through meticulous scrutiny of the project and we are happy they found it worth their money,” Cruz, FTC’s CEO and president, said. “This investment should be a big boost not just to us but to Davao City in general.”

Cruz was referring to the landmark transaction which his company FTC Group of Companies inked 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.

MOA SIGNING. FTC Group of Companies president Ian Y. Cruz and Chairman Francisco T. Cruz sign the landmark deal with Altus Hospitality South Inc. officials.
MOA SIGNING. FTC Group of Companies president Ian Y. Cruz and Chairman Francisco T. Cruz sign the landmark deal with Altus Hospitality South Inc. officials.

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.

The building boasts of earthquake resistant features.

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