Arthaland to expand development footprint over next five years

Advertisement
Font Size

ArthaLand’s Century Pacific Tower is located at the corner of Bonifacio Global City’s 5th Avenue and 31st Street — WWW.ARTHALAND.COM.PH/CENTURYPACIFICTOWER

Arthaland Corp. aims to quintuple the number of completed projects under its portfolio in the next five years, as it acquires more land in Metro Manila and other key cities in the country.

Arthaland Executive Vice President for Business Development Christopher G. Narciso noted that the company ended 2017 with two completed projects, namely the two-tower Arya Residences in Bonifacio Global City (BGC) and its flagship office project Arthaland Century Pacific Tower (ACPT).

The listed property developer is currently developing another office project in Cebu called the Cebu Exchange Tower, a 39-storey tower offering 83,100 square meters (sq.m.) of office space plus 3,900 sq.m. of retail space.

“We want to expand development footprint via residential and office buildings in a very boutique way. Coming out from 2017, we had Arya and ACPT. We want to expand that five times in the next five years, and increase the number of square meters we’ll develop,” Mr. Narciso told reporters in a media roundtable in Taguig City on Tuesday.

The company has several projects in the pipeline to achieve this target, including a commercial office project in Arca South in Taguig. It also plans to develop several condominium projects within the Makati Central Business District and BGC. Mr. Narciso said they are still acquiring the properties to be used for the projects.

“It’s all in the works right now. It’s hard to say exactly how many (condominiums), because we’re evaluating and working on several properties…We’re looking at acquiring new properties there,” Mr. Narciso said.

Arthaland grew its net income attributable to the parent by 535% in the first six months of 2018 to P34.6 million, amid slower gross revenues of P210.78 million during the period.

Shares in Arthaland slipped by a centavo or 1.37% to close at 72 centavos each at the stock exchange on Tuesday. — Arra B. Francia





Advertisement