PSE sells Ortigas offices to PhilRealty

The Philippine Stock Exchange Inc. sold its Ortigas financial district offices to Philippine Realty and Holdings Corp. for P257,178,350.

The owner and operator of the stock market said it signed the deeds of absolute sale covering its office units and parking slots at the PSE Centre in Ortigas, Pasig City.

PhilRealty and the PSE then entered into a lease agreement to allow the stock exchange operator to occupy the same office units.

In an earlier disclosure, the PSE said the sale and purchase agreement covered four office units with a combined floor area 4,754.72 sqm and 21 parking slots.

As part of cost-cutting measures, the PSE consolidated its operations at the Ayala Tower in Makati City. It is also planning to relocate to Bonifacio Global City this year. — Ted Cordero/VDS, GMA News