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| Author: | Einhorn, B. |
| Title: | Tremors in Manila |
| Journal: | Business Week
1997 : APR 28, VOL. 3508:838, p. 22-23 |
| Index terms: | ECONOMICS PHILIPPINES PROPERTY |
| Language: | eng |
| Abstract: | Is its real estate boom about to collapse as Bangkok's did? On the most expensive plot of land in Manila, an office tower is going up. A group of well-heeled investors paid $15,000 a square meter for the 2-hectare site, a record for the Makati business district, where prices have soared 180% in two years. Construction workers are raising the old Philippine National Bank building and expect to finish the new tower by early next decade. Across Manila, developers and financiers fear a real estate collapse similar to the one that has just rocked Bangkok. |
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