The National Development Company (NDC), an investment arm of the Philippine government, said it signed a 25-year commercial lease with TBG Shared Services Inc., the operator of 23 restaurant brands in the Philippines including TGI Fridays, Hard Rock Cafe and Texas Roadhouse.
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.
“Kamagong St. is an integral part of our company’s history. We established our roots in this space in 1994 and it has been our home since. It was a testament to the growth of The Bistro Group for nearly 30 years. We find this an ideal location for some Bistro restaurants that we will open at the ground level in the near future,” said TBG president Jean Paul Manuud.
The hub will consist of up to five floors of office space, along with planned commercial spaces at the ground-floor.
NDC general manager Anton Mauricio said the lease represents a professional business partnership and model of cooperation between the private sector and the public sector.
A state-owned enterprise, the NDC is the government’s investment arm undertaking vital projects on its own, or in joint venture with the private sector.
The Bistro Group is one of the Philippines’ most progressive restaurant chains that popularized the casual dining concept with the entry of TGI Fridays in the country nearly 30 years ago.
Its success led to the launch of other renowned American chain brands such as Italianni’s, Denny’s, Buffalo Wild Wings, Texas Roadhouse, Randy’s Donuts and Hard Rock Café among others as well as Asian concepts like Watami, Modern Shang, Bulgogi Brothers and Fish & Co.
The company owns and operates Bistronomia, a collection of boutique Spanish/Mediterranean restaurants, Las Flores, Rambla, Tomatito, BCN by Las Flores and Rumba.
Also part of its portfolio is TBG Elite by award-winning corporate executive chef, Josh Boutwood. Its premier restaurants, highlighted by quality ingredients, seasonality and unique cooking methods are Helm, The Test Kitchen, Savage and Ember.