CITY & LAND Developers, Inc. has topped off its latest condominium project in Taft Avenue last week, three years since it was launched in 2016.
The listed subsidiary of Cityland Development Corp. (CDC) said in a statement yesterday it held a topping off ceremony for its One Taft Residences project last Oct. 28.
The 40-storey building is the newest project of City & Land following the topping off of CDC’s One Premier project in Alabang in September.
The company said the location of One Taft Residences, which lies a few steps away from the university belt, makes it a prime spot with heavy foot traffic. It is accessible to transportation hubs, shopping centers and commercial and government offices.
Residential units of the property are offered in studio, one-bedroom and two-bedroom cuts with sizes ranging from 19.55 square meters to 60.76 square meters.
City & Land is one of the two subsidiaries of CDC, the other being pre-need company Cityplans, Inc.
The Cityland group operates various residential and commercial developments across the country, of which five are under City & Land, namely: North Residences in Quezon City, Grand Emerald Tower in Pasig City and Manila Residences Bocobo, The Pacific Regency and One Taft Residences all in Manila.
City & Land booked an attributable net income of P75.02 million in the six months to June, up 18% from last year on the back of a 15% rise in revenues to P306.86 million.
The attributable net income of its parent CDC stood at P346.7 million during the period, soaring 44% as revenues increased 22% to P1.25 billion.
Shares in CDC traded flat on Monday, closing at 87 centavos apiece. — Denise A. Valdez
