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Araneta Center Inc. plans to spend a total of PhP50 billion for the redevelopment of the Araneta Centre in Cubao, Quezon City which involves the construction of a four-star hotel, an office tower and the expansion of the Gateway Mall. The company has tapped Accor to manage the 400-room hotel, to be called Novotel, on a 5,000-square meter property within the Araneta Center.
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