October 16, 2020 | 12:07 am [ bworldonline.com ]
By Denise A. Valdez, Senior Reporter
ISOC HOLDINGS, Inc. is bullish to expand its property portfolio in the coming years as it looks at the capital market as a viable investment tool in the future.
The holding firm of businessman Michael C. Cosiquien, co-founder of listed Megawide Construction Corp., said it launched two real estate projects this year despite the coronavirus pandemic.
Before the year ends and through the coming years, it looks to launch more commercial and residential projects in Metro Manila, and an integrated resort in Clark, Pampanga.
“The real estate industry is probably one of the most resilient sectors given that despite the pandemic, the industry remains to be stable,” Mr. Cosiquien, chairman of ISOC Holdings, told BusinessWorld via e-mail.
To support this growth, the company is studying possibilities for fundraising through an initial public offering (IPO) or a real estate investment trust (REIT) IPO.
“We want to establish a strong and consistent track record of sustainability that will satisfy, if not delight, our home owners. Doing an IPO or a REIT listing is a consideration in our long-term plan,” Mr. Cosiquien said.
ISOC Holdings, through I-Land, Inc., has two commercial properties, a residential property and a seven-hectare master-planned complex in Clark, Pampanga in its portfolio.
This year, it launched I-Land Bay Plaza in Pasay City and I-Land Residences Sucat in Parañaque City. I-Land Bay Plaza is already 50% leased out and is scheduled to be topped off next month. I-Land Residences is recording “very good” sales take-up, with all its one-bedroom units sold out.
“That’s why we are planning to launch Tower 2 of Sucat soon with more one-bedroom units,” Mr. Cosiquien said.
In the years ahead, the company plans to launch new residential and commercial projects in Quezon City, Pasig City, Makati City, and Taguig City. “We want to be able to satisfy our future homeowners and create a long term partnership and loyal following,” Mr. Cosiquien said.
Aside from real estate, ISOC Holdings also has interests in cold chain solutions, energy, and infrastructure businesses.
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