Pueblo de Oro Development Corp. (PDO) targets to develop more residential projects in the future as it looks to contribute to the housing sector in addressing the housing backlog in the country.
In a statement issued Wednesday, Sept. 5, the property unit of Investment & Capital Corporation of the Philippines (ICCP) said among the projects it has in the pipeline is a 40-hectare residential subdivision in Malvar, Batangas.
To be launched in the fourth quarter of 2019, the project forms part of the 250-hectare “live-work” community being developed by its sister firm, Science Park of the Philippines, Inc.
PDO said it chose to expand in Malvar due to the projected influx of locators in the area from Southeast Asian countries in the following years.
“With ASEAN integration and the pick-up in the economy, we expect more multinationals and industrial locators to come in and setup in areas outside Metro Manila such as Batangas,” PDO President Rhoel Alberto B. Nolido said in a statement. — Arra B. Francia