• Arthaland eyes more property acquisitions

    0

    ARTHALAND Corp. is acquiring more properties in line with expansion plans framed around a growing Philippine economy.

    In a recent interview, Arthaland President Angela De Villa-Lacson told The Manila Times that she could not yet disclose the locations. “I can not say at the moment, because we are still in discussion with landowners and possible partners,” Lacson said.

    At the annual stockholders’ meeting in June, Arthaland announced four projects in the pipeline, but the firm was still in talks with landowners regarding the properties for these projects. All four projects will be launched this year.

    Lacson noted the projects would be a mix of residential and office developments. “We are almost there. It’s just the certain agreements and provisions,” Lacson said

    This year, Lacson noted that the firm plans to launch its office project in Cebu, which is a 60-40 joint venture with Rock & Salt B.V., a firm managed by Asian real estate investment firm Arch Capital Management Limited.

    Through subsidiary, Cebu Lavana Land Corp., Arthaland acquired an 8,440 square meter property along Salinas Drive in Cebu City last December.

    “We’re currently completing the design, and the target is to construct 110,000 sqm of floor area… which will generate P11.5 billion in gross revenue,” Lacson said.

    “We have also reached agreements with the purchase of another property—a larger one this time—of about 8.1 hectares in Laguna. Planning has begun and we plan to launch it by the second half of next year,” Lacson said.

    “I can’t divulge the plans for that yet,” she added.

    Asked if the company is expanding in the provinces, Lacson noted that Arthaland is approaching it in a strategic way.

    “As shown by the Laguna and Cebu projects, we are expanding but in a managed pace. Always in a managed pace,” Lacson added.

    Share.
    loading...
    Loading...

    Please follow our commenting guidelines.

    Comments are closed.