A Brown Co. Inc. said it is investing P2.5 billion to develop a portion of Misamis Oriental’s Provincial Capital grounds.
The company said it is forming a joint venture with the Provincial Government of Misamis Oriental for the project where it will develop the propert into a mixed-use complex that will include needed public infrastructure, construction of a high-rise multi-purpose building, commercial and office buildings, a dormitory, and a public park.
“The project is to be developed in four parts with total investment committed by the corporation of P2.5 billion,” A. Brown told regulators.
A. Brown said parts one to three, which comprises phase one of the project will include the development and construction of office Spaces, a commercial/shopping center, a park and parking facilities.
“Part 4 (phase two) of the project will include the development and construction of a multilevel mixed-use building with a dormitory,” it said.
“The JVA (joint venture agreement) is expected to be signed on January 23, 2025 after which the corporation will be making a more comprehensive disclosure on the final terms and conditions thereof,” the company said.
A Brown is in the midst of expanding its real estate projects, raising P1.5 billion in funding last year.