MANILA, Philippines – City & Land
Developers Inc., a member of the Cityland Group of Companies, has obtained
approval from the Securities and Exchange Commission to issue short-term
commercial papers amounting to P200 million.
Proceeds from the offering will be
used to cover the company’s funding requirements for its projects.
The company earlier turned over units
at Manila Residences Bocobo, a 34-story mixed-use condominium building in
Ermita, Manila.
City & Land has been beefing up
its landbank, having acquired prime properties along Veterans Village and Samar
Ave. in Quezon City, and Roxas Blvd. in Manila.
The Cityland Group is a trusted name
in the real estate industry with a proven track record of more than 25 years.
City & Land primarily develops
residential, office, commercial, institutional and industrial sites catering to
the low- to middle-income segments since the projects are offered at affordable
prices.
The company developed residential
units in Paranaque, as well as an office and residential condominium project in
Ortigas Center, Pasig City.
Affiliate Cityland Developers Inc., on
the other hand, develops medium-to high-rise offices and residential
condominiums located in Makati, Mandaluyong and Ortigas. It also has farmlots
in Bulacan and Cavite.
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