Shang Salcedo Place

Shang Properties Inc. is investing about P37.5 billion in three big-ticket projects in the Philippines, reflecting the optimism of the Kuok group on the country’s upscale property market.

The newest project is a P5-billion upscale condominium project at the corners of Buendia, HV Dela Costa and Tordesillas Streets in Salcedo Village, Makati.

The project, to be called Shang Salcedo Village, will rise on a prime property acquired last year from the Phinma group, where Asian Bank Plaza once stood.

The excavation of Shang Salcedo Place in Makati was now underway and that it was targeting to start selling the units by the second quarter of 2012.

The 65-story residential project will offer more than 700 condominium units.