The Bistro Group Seals P175-M Lease with National Development Company (NDC)
TBG Shared Services Inc. signed a 25-year commercial lease with NDC, which expects roughly P175 million in revenue over the lease term.
The National Development Company has secured roughly P175 million in revenue from the restaurant chain, The Bistro Group, in the next 25 years. This was after TBG Shared Services Inc. sealed a lease agreement with the Department of Trade and Industry attached agency, NDC, a long-term 25-year commercial lease.
“The yearly lease is, (as per) ballpark figures, upwards of P7 million yearly. Funds generated from the lease will be used in other current and/or future projects of NDC,” said Rocky Acot, assistant general manager at NDC.
The long-term commercial lease covers a vacant lot owned by NDC along Kamagong Street, Makati City, and will become the site of TBG Shared Services’ new corporate head office, consisting of up to five floors of office space, along with planned commercial spaces on the ground floor. The signing ceremony between NDC General Manager/Rtn. Anton Mauricio and TBG President Jean-Paul Manuud was held at Italianni’s Circuit (one of TBG’s restaurant concepts) on February 21, 2024.
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