JAKA Tower
Coordinates: 14°33′32″N 121°1′0″E / 14.55889°N 121.01667°E
| JAKA Tower | |
|---|---|
 The unfinished JAKA Tower in 2015 | |
| General information | |
| Status | On hold |
| Type | Office |
| Location | 1226 Ayala Avenue, Makati, Philippines |
| Construction started | 1996 |
| Completed | 2019 (estimated) |
| Owner |
JAKA Group of Companies (1990s–?) Enrile family (until 2014) Ayala Land Inc. (2014–) |
| Design and construction | |
| Architecture firm |
Hellmuth, Obata and Kassabaum (under JAKA) |
| Developer |
JAKA Property Group (until 2014) Ayala Land Inc. (2014–) |
| References | |
| [1][2] | |
The JAKA Tower was a planned office skyscraper in Makati, Philippines. It was designed by the architectural firm Hellmuth, Obata and Kassabaum, and was to be the first highrise project of Senator Juan Ponce Enrile's JAKA Property Group.[2][3] Construction started in 1996, and was scheduled for completion by 1999.[4]
It was originally designed to rise 49 stories high, with a height of 185.9 metres (609.91 feet) to its roof. Its design was to have cladded finishing on its podium, and external curtain glass walls on the rest of the building. When finished, it was supposed to be one of Philippines' tallest building at that time.[2][4]
Construction
Halt
Construction was already in its 21st floor when it was halted, due to the negative financial effects brought upon by the 1997 Asian Financial Crisis.[3] The JAKA Group was forced to surrender its property to lenders.[5]It was planned for works to resume in 2005 or 2006, but it did not push through. The only activity in the past 10 years was the application of protective coating on the exposed structural reinforcement bars of the building.
Acquisition by Ayala Land
In December 2012, Jack Enrile announces that his father, Juan Ponce Enrile hasdecided to sell the property due to lack of time and resources to finish the building. This is after Enrile's family bought back the property.[5]
In September 2014, developer Ayala Land Inc. acquired the JAKA Tower, previously owned by Juan Ponce Enrile's family and plans to integrate the property in its City Gate development project. Ayala said that it would not demolish the existing building which is still structurally sound even after almost 15 years of abandonment.[3] Ayala Land Inc. plans to commence the buildings redevelopment sometime in 2015 and estimates the building's completion within three or four years. The company intends the JAKA Tower to be an office building. However, it also disclosed that the building may not be built to its originally intended height.[4]
Resumption of construction
In September 2015, Ayala Land through its unit Alveo Land, has recently launched this project as Alveo Financial Tower. It will be the flagship office project of Alveo and serves as the major anchor of City Gate, a mixed-used office and commercial project by Ayala Land.
See also
References
- ↑ Emporis Buildings JAKA Tower, Makati
- 1 2 3 Skyscraperpage.com Jaka Tower
- 1 2 3 Austria, Jenniffer (28 September 2014). "Ayala seals Jaka Tower buyout". Manila Standard Today. Retrieved 14 January 2015.
- 1 2 3 Mercurio, Richmond (14 January 2015). "ALI to relaunch JAKA Tower redev’t". The Philippine Star. Retrieved 14 January 2015.
- 1 2 Cabacungan, Gil C. (2012-12-05). "Enrile gives up monument to self, now an eyesore on Ayala Avenue". The Philippine Daily Inquirer. Retrieved 2013-04-30.
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