PNB signs loan, mortgage accord

MANILA, Philippines - The Philippine National Bank (PNB) has signed a loan and mortgage agreement with Limketkai Sons Inc. (LKKS) to expand and enhance the Limketkai Center as the central business district (CBD) of Northern Mindanao. The 30-hectare center comprises the Limketkai Mall (which houses about 400 shops, boutiques, department stores and supermarkets, restaurants and food outlets, services companies, movie-houses and entertainment arcade), commercial banks, a row of resto-bars and coffee shops (which include the first Starbucks Coffee in Mindanao) and a multi-function Atrium and convention/concert hall. At present, Limketkai Hotel & Resorts Corp. is also building its 18-storey hotel beside LKKS’s recently completed twin office towers. No amount was indicated.