ArthaLand, the Philippines’ foremost green developer whose projects are recognized by both local and global organizations for their superior design, high quality standards and focus on sustainability and innovation, listed today on the Philippine Stock Exchange (PSE) P1-billion worth of Preferred Shares to partially finance the acquisition and development of the Company’s real estate projects and for general corporate purposes. The offer consisted of 10 million preferred shares at P100 per share and was oversubscribed two times.
“The strong response from investors shows there is a growing demand for green developments. They are attractive not just because they adhere to sustainability standards but are considered financially-sound investments as well,” said Leo Arthur T. Po, Executive Vice President and Treasurer of ArthaLand.
The Company is allocating P530 million of the net proceeds to acquire a property in Makati City to develop into a high end residential project with a gross floor area of 29,000 square meters. It is also expanding its footprint in Cebu City with P300 million of the proceeds to be used to acquire a strategic property for an upscale residential condominium project with a gross floor area of 27,000 square meters. Both residential projects will aim for dual certification with LEED and BERDE – the recognized standards for green building design and green building operations. P154 million of the proceeds will be used for general corporate purposes which may include funding working capital requirements, funding for future acquisition of properties when the opportunities arise or earmarking of funds for the retention of retail or commercial units in any of the Company’s projects to increase recurring lease revenues.
“These additional projects bring us closer to our objective of growing our development portfolio by 5 times. We are emboldened to embark pioneering more green and future-proof developments,” said Mr. Po.
Following its premium residential development at Bonifacio Global City, Arya Residences, the company has continually been firmly committed to sustainable developments. It recently launched Sevina Park, an 8.1-hectare mixed-used neighborhood development that is slated to become the country’s first LEED-certified neighborhood development. Arthaland also partnered with the World Wide Fund for Nature (WWF-Philippines) for its Forests for Water program. The company will support the planting of endemic and endangered trees, where possible, in all ArthaLand projects. In the photo during the bell-ringing ceremony are (from left to right): Eduardo V. Francisco, President of BDO Capital & Investment Corporation; Jaime Enrique Y. Gonzàlez, Board Director of ArthaLand; Leonardo Arthur T. Po, Executive Vice President and Treasurer of ArthaLand; Jaime C. Gonzàlez, Vice Chairman and President & CEO of ArthaLand; PSE Chairman Jose T. Pardo; PSE President & CEO Ramon S. Monzon; PSE Director Roberto Cecilio O. Lim; PSE Chief Operating Officer Roel A. Refran; and PSE Director Alejandro T. Yu.