Golden Bria Holdings (formerly Golden Haven), Inc is accelerating this year’s capital spending to P5.89 billion, in line with the company’s goal to beef up its land bank.
In a regulatory filing, the Villar-led firm reported that P2.16 billion of the 2018 spending has been allotted for land acquisitions. Construction will corner P2.59 billion of the capex, while around P746.5 million will be for land development.
The remaining budget will go to memorial park development, memorial chapel construction, and for property and equipment.
This year’s capital expenditure is more than double the P2.79 billion Golden Bria actually spent in 2017. — Arra B. Francia