By Zinnia B.
Dela Peña (The Philippine Star) | Updated December 21, 2012 - 12:00am
MANILA,
Philippines - Publicly-listed Araneta Properties Inc. has acquired five parcels
of land in San Jose del Monte, Bulacan for P277.965 million.
In a
disclosure to the Philippine Stock Exchange, Araneta Properties said it
acquired the land from BDO Strategic Holdings Inc.
Funding for
the acquisition will come from internally-generated funds.
In its
website, Araneta Properties said it is committed to the progress of San Jose
del Monte and intends to offer more homes and lots.
Araneta
Properties is a publicly-listed real estate company with a total of 236
hectares of land involved in a joint venture partnership with Sta. Lucia Real
Estate and Development, one of the biggest real estate developers in the
country.
Dubbed as one
of the best selling real estate developments in 2006, it is currently planning
to roll out its expansion for a third phase of residential lots in the same
area.
Araneta
Properties is preparing a master plan for the development of a 248.11-hectare
property in the city. The major components of the master plan consists of
upper-middle to high-end residential lots and townhouses complemented by a
leisure center, including a country club, a commercial center and university
center. Additional components of the plan are a nature park, corporate business
center and mass housing.
San Jose del
Monte City is the largest city in the province of Bulacan and enjoys a steady
population growth rate of five percent annuallyas many people migrate from the
Metro to find more affordable homes.
_________________________________________________________
