PRIMEX Realty Corp. signed with hotel group Accor SA to manage its San Juan-based Pullman Manila at Primex Tower, which is slated to be completed by 2023.
The 200-room hotel will be at the topmost 10 floors of the mixed-use property that houses retail and office spaces in the lower floors.
Primex Realty Corp. is a subsidiary of listed company Primex Corp., which said in a disclosure on Thursday that the hotel at the 50-storey glass tower will have two restaurants, a rooftop bar, fitness center, swimming pool, and events facilities.
Primex Corp. started construction of the P3.6-billion Primex Tower in 2018, offering office spaces at 200-300-square meters each. The project is on a 1,944-square meter lot at the corner of EDSA, Connecticut Street, and Florida Street at the Greenhills commercial district.
Accor runs seven hotels in the Greater Manila area, with 16 more in its local pipeline for the next five years.
“This is a great market which will continue to thrive in the long-term due to its great potential driven by economic development, natural attractions, the people’s warm hospitality and the ongoing improvement of transport infrastructure,” said Andrew Langdon, Accor senior vice-president for Southeast Asia, Japan, and South Korea.
Primex Corp. acquired 100% stake in its affiliate Primex Realty Corp. in 2015, then 42.86% stake in Primex Development Corp. in 2019.
Shares in Primex jumped 1.20% or two centavos to P1.69 each on Thursday. — Jenina P. Ibañez
