Arthaland Corp. said it is acquiring land that will allow the company to have pipeline projects in the next 10 to 15 years.
Christopher Narciso, Arthaland business operations group head, said t the company is close to acquiring the two “multi-hectare properties” it previously announced.
“We’ve made significant gains in steps to close and finalize the acquisition of these properties,” Narciso said.
He said one is a 3.6- hectare property which we refer to as Project Olive, and situated by the entry of one of the most premium central business districts in Metro Manila and the other is a five-hectare property situated in the heart of a very prime metro City in Southern Philippines.
Narciso said Arthaland is negotiating for the acquisition of various properties around Metro Manila that can be developed into dual- and single-tower projects in the metropolis.
Jaime Gonzalez, Arthaland president, said the company is focusing more on residential development and is adopting a more “cautious approach” to the office and commercial space development.
“We note that demand for residential developments remains strong, consistent with the continued economic growth and the fundamental need for housing among Filipinos. Thus, in the near-term, our line-up of new projects is largely composed of residential developments in high-growth urban areas,” Gonzalez said.
“We will continue to monitor developments in the office/commercial sector and evaluate opportunities in this sector in the near-term,” Gonzales added.
