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ArthaLand inks agreement with north Luzon lot owner

Posted on July 12, 2012 09:47:05 PM [ BusinessWorld Online ]

PROPERTY FIRM ArthaLand Corp. is set to expand its presence beyond Metro Manila as it aims to undertake projects in partnership with land owners, the company’s top official said yesterday.

“Several landowners have been approaching us for development possibilities. In north Luzon, we just signed a deal with a landowner for a possible mixed-use project. It’s a large property, about 400 hectares,” Angela De Villa-Lacson, Arthaland president and chief executive, told reporters.

“We’re in the planning stage right now,” Ms. De Villa-Lacson said.

Moving forward, a similar property joint-venture deal is likely to be signed soon, Ms. De Villa-Lacson said without elaborating.

“[Landowners] want something like Arya [Residences] in terms of sustainable construction,” Ninalyn S. Cordero, ArthaLand project and business development vice-president, said in a separate interview, referring to a planned energy efficient building.

ArthaLand shares were last traded on July 5 at 17 centavos each. -- F. J. G. de la Fuente

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