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Random freezes, missing sound and display glitches usually trace back to one bad driver. Find and replace yours safely.Free scan · under a minutePNB Holdings Corporation proposes a 54-storey mixed-use tower called the Legacy Tower at Buendia Avenue (Gil Puyat) and Paseo de Roxas in Makati. The company’s environmental assessment describes retail, office, hotel and residential space, but available official documents do not verify the often-repeated $205 million cost or establish that the tower is approved for construction or underway.
What is PNB Holdings building in Makati?
The project is named the Legacy Tower in PNB Holdings’ environmental assessment, which describes a proposed “Retail, Office, Hotel & Residential Building Project.” The assessment sets out a 54-storey building with nine basement levels. Those are proposal specifications in a project document, not confirmation that a final design has been approved or built. PNB Holdings’ environmental assessment, hosted by the NCR Environmental Management Bureau, is the source for those project details.
The company’s February 2026 prospectus identifies the site as its PHC Buendia Property, an 8,000-square-metre lot. It is at the intersection of Buendia Avenue, also known as Gil Puyat Avenue, and Paseo de Roxas in Barangay Urdaneta, Makati. PNB Holdings’ prospectus describes the property and the company’s redevelopment ambitions for its Makati and Pasay sites.
Is the $205-million PNB tower approved or under construction?
The available dated permitting evidence is a notice from the NCR Environmental Management Bureau listing a public hearing for August 27, 2025. A hearing notice is not an Environmental Compliance Certificate or proof that other permits have been issued. The available official materials do not establish whether the tower later received environmental clearance, whether its design changed, or whether construction began. The project assessment describes a proposal; it does not by itself demonstrate approval or execution. The NCR EMB notice and project materials are the relevant records.
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PNB Holdings’ October–December 2024 newsletter, issued January 31, 2025, said design development had commenced and that the company was working with foreign architectural firms on redevelopment plans. It also described Dr. Lucio Tan’s vision of building the Philippines’ tallest building. That is evidence of a reported ambition at the time, not a confirmed height, approved specification or current construction status. The newsletter quoted PHC vice president for business development Julio Jude Montinola saying, “We are excited about planning for the redevelopment of our properties in Makati and Pasay as we see a very huge growth potential in these areas.” The PHC Perspective newsletter provides that historical context.
Can the tower’s cost be confirmed as $205 million?
No. The available company prospectus, environmental assessment, and retrieved official company and exchange materials do not establish a $205 million project budget. They do not state the amount’s currency basis, estimate date or cost scope. Treat the headline figure as unverified rather than as a confirmed construction cost. Without a reliable, directly attributable estimate, it also cannot be compared meaningfully with other towers.
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What PNB Holdings’ finances do—and do not—show
PNB Holdings reported first-half 2026 revenue of ₱634.3 million, compared with ₱502.7 million in the first half of 2025, and net income of ₱209.9 million. As of June 2026, the company reported total assets of ₱50.894 billion, cash and cash equivalents of ₱3.025 billion, and a debt-to-equity ratio of 0.02. PHC also said it had no interest-bearing loans at that date. These are company-reported figures for its overall business, not a tower budget, project-specific funding commitment or evidence that construction financing is secured. PNB Holdings’ August 27, 2026 first-half update is the source for the reported results.
PHC’s market listing provides further corporate context, but not project financing. The Philippine Stock Exchange reported that PNB Holdings (ticker LTL) listed 46.93 billion shares by way of introduction on September 25, 2026, at an initial listing price of ₱1.20 per share. The listed shares included 23.9 billion declared as property dividends by parent Philippine National Bank to its shareholders. The PSE described PHC’s activities as leasing office, retail and commercial spaces, providing co-working spaces and parking concessions, and operating event venues. It also named PNB Financial Center, PNB Makati Center and the Makati development lot among the company’s assets. The Philippine Stock Exchange’s listing report records those details.
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What is established about the project?
- Project: Legacy Tower, proposed by PNB Holdings Corporation.
- Location: PHC Buendia Property, an 8,000-square-metre site at Buendia Avenue (Gil Puyat) and Paseo de Roxas in Makati.
- Proposal: 54 storeys, nine basement levels, and retail, office, hotel and residential uses, as described in the environmental assessment.
- Status: An NCR EMB notice listed a public hearing for August 27, 2025; the available records do not establish later clearance, construction commencement or completion timing.
- Cost: The $205 million figure is not corroborated by the available official materials.
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