Vol. XXI, No. 226 [ Business World Online ]
Wednesday, June 18, 2008 | MANILA, PHILIPPINES
SY-LED Belle Corporation is spending P1 billion to finance land development projects this year.
The company likewise hopes to book roughly the same amount in revenues for the year, Belle Chief Finance Officer Manuel Gana said yesterday. He said the capital expenditure would be financed by a contract-to-sell scheme, which has supported company operations since 2003.
Belle Vice-Chairman Willy Ocier said the company had shelved a plan to partner with the Puyats for possible expansion outside Luzon.
"We are concentrating on Tagaytay. Of the 1,500 hectares we have there, only 700 hectares are fully developed," Mr. Ocier said. Belle Corp. is planning to launch the Cotswold this year with the expansion of Lakeside Fairways residential development in Tagaytay.
"After the Cotswold, we plan to launch two to three more phases of Lakeside Fairways, in addition to new projects in Tanauan," said Belle Chairman Benito Tan Guat in a company report.
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