A Brown Company Inc. registered a reservation sales of P1.9 billion last year, up 27 percent from the previous year’s P1.58 billion, out of its projects in Northern Mindanao.
These consist of Coral Resort Estates, the first residential resort estate in Initao, Misamis Oriental, which highlights units of Balinese architectural style overlooking the sea and Ignatius Enclave Phase 2, a premiere gated subdivision in Upper Balulang, Cagayan de Oro, which features a clubhouse and park.
A. Brown noted that the increase in reservation sales was preceded by last November’s P1.33 billion follow-on offering, of which a part of the proceeds will be used to fund the development of its real estate projects in key cities in Mindanao and Luzon and for landbanking.
“The fund raising activity allows us to maximize opportunities in our real estate business alongside expansion in new growth industries. In recent years, A Brown has focused on strengthening our balance sheet. We are on track for further growth ,” said Robertino Pizarro, A. Brown president.
The company said it looks forward to further grow this year with its project focus on low density communities that include Coral Bay Suites, the first condo by the bay located in Initao, Misamis Oriental; the Teakwood Crest, featuring views of Macalajar Bay, mountains and cityscape in Brgy. Agusan, Cagayan de Oro City; and the Mountain Pines AgroTourism and Retirement Estates, an eco-farm concept located in the foothills of the Kitanglad Range in Manolo Fortich, Bukidnon.
The company is also bringing its presence to Luzon with its projects in Tanay, Rizal like the Adelaida Mountain Residences and Adelaida Homes project that will feature lots and housing units together with a commercial frontage.
A Brown Co. through s subsidiary, Irradiation Solutions Inc. is also developing an electron beam (e-beam) and cold storage facility in Tanay for the medical and food industries.
