Malaysian group to build Makati Hotel

Malaysian property firm IGB Corp. Berhad is set to build a P750-million business-class hotel at the corner of Makati and Kalayaan avenues in the Makati business district.

Company officials said the hotel would have 415 rooms on 29 floors.

The hotel will be developed by St. Giles Hotel Manila Inc., a local company put up by IGB Corp. for its hotel investment in the Philippines. Cititel Hotel Management (CHM), the hotel management arm of IGB Corp., will run the hotel.

"Makati is very vibrant. Tourist growth will continue, specially the business travelers market," said Seng Yong Chua, president of St. Giles Hotel Manila.

"The occupancy rate in Makati is very healthy. The St. Giles brand is an existing United Kingdom brand" of the IGB Group, CHM managing director Dato Eric Lim said.

The hotel will feature conference and function rooms and amenities like a pool and restaurants.

Construction will start in January and completion is targeted for December 2009.

IGB Corp. owns the Renaissance and the Boulevard hotels in Kuala Lumpur, the New World Saigon in Vietnam, the Pangkor Island Beach Resort and Cititel hotels in Malaysia and the MiCasa hotel apartments in Myanmar.

IGB also owns two hotels under the St. Giles brand in London and Heathrow, which company officials described as two of the United Kingdom's biggest three-star hotels.