ABS-CBN: no HQ redevelopment deal yet
ABS-CBN Corp. is considering redevelopment of its Quezon City headquarters, but has yet to strike a deal with a real estate firm. Responding to a report last week that subsidiary Rockwell Land Corp. bought a plot of 3.4 hectares along the sergeant. Esguerra and Mother Ignacia Avenue, the broadcaster told the Securities and Exchange Commission (SEC) on Monday that negotiations had been held with developers. “ABS-CBN is in talks with developers, including Rockwell Land, even before construction begins. “Pandemic of possible redevelopment plans for ABS-CBN properties in Quezon City,” the post reads. “A deal has not been finalized at this time.” Echoing ABS-CBN, the company said that “Rockwell Land is exploring redevelopment of ABS-CBN property even before the outbreak of the Covid-19 pandemic.” agreement to date between Rockwell Land and ABS-CBN regarding ownership. “The broadcaster’s premises have been largely unused since Congress refused to renew its franchise in 2020. ABS-CBN’s frequencies have been lent to other firms and it now operates as a content provider. ABS-CBN’s share price fell 1 centavo to 7.34 pesos a share as the Philippine Stock Exchange’s benchmark index fell 0.69 percent. Friday, no trading.