Philippine Property Market: PNB Holdings Eyes Development of Prime Makati Corner Lot
A long-idle Buendia-Paseo site may finally rise as Legacy Tower ahead of a major stock listing
Written by PropVela Editorial TeamPublished 1 min read
Today's roundup zeroes in on one closely watched development: the possible revival of a dormant but valuable landholding in the heart of Makati's business district.
PNB Holdings' Prime Buendia-Paseo Property May Finally Get Built
PNB Holdings Corp., which manages former Philippine National Bank real estate under the Lucio Tan group, appears to be advancing plans to build on its long-idle 155,000-square-meter corner lot at Gil Puyat Avenue and Paseo de Roxas in Makati. The move comes just weeks before the company's stock listing by way of introduction, scheduled for September 25, 2026. A market analyst pointed to an active environmental impact assessment filing tied to a mixed-use project referred to as "Legacy Tower," noting that public scoping for the project had already taken place the prior year. If it proceeds, the project would mark a significant shift for one of Makati's most prominent undeveloped sites. According to Manila Bulletin, the timing suggests the company may be positioning the asset for growth ahead of going public.