{"id":4800,"date":"2019-07-03T11:36:39","date_gmt":"2019-07-03T11:36:39","guid":{"rendered":"http:\/\/zestmag.com\/online\/?p=4800"},"modified":"2019-07-03T11:36:42","modified_gmt":"2019-07-03T11:36:42","slug":"sustainable-developer-arthaland-issues-preferred-shares","status":"publish","type":"post","link":"https:\/\/zestmag.com\/online\/sustainable-developer-arthaland-issues-preferred-shares\/","title":{"rendered":"Sustainable developer ArthaLand issues Preferred Shares"},"content":{"rendered":"\n<p><strong>ArthaLand, the Philippines\u2019 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\u2019s real estate projects and for general corporate purposes.\u00a0The offer consisted of 10 million preferred shares at P100 per share and was oversubscribed two times.\u00a0 <\/strong><\/p>\n\n\n\n<p>\u201cThe strong\nresponse from investors shows there is a growing demand for green developments.\nThey are attractive not just because they adhere to sustainability standards\nbut are considered financially-sound investments as well,\u201d said Leo Arthur T.\nPo, Executive Vice President and Treasurer of ArthaLand.<\/p>\n\n\n\n<p>The Company\nis allocating P530 million of the net proceeds to acquire a property in Makati\nCity to develop into a high end residential project with a gross floor area of\n29,000 square meters. It is also expanding its footprint in Cebu City with P300\nmillion of the proceeds to be used to acquire a strategic property for an\nupscale residential condominium project with a gross floor area of 27,000\nsquare meters. Both residential projects will aim for dual certification with\nLEED and BERDE \u2013 the recognized standards for green building design and green building\noperations. P154 million of the proceeds will be used for general corporate\npurposes which may include funding\nworking capital requirements, funding for future\nacquisition of properties when the opportunities arise or earmarking of funds\nfor the retention of retail or commercial units in any of the\nCompany\u2019s projects to increase recurring lease revenues.<\/p>\n\n\n\n<p>\u201cThese\nadditional projects bring us closer to our objective of growing our development\nportfolio by 5 times.&nbsp; We are emboldened\nto embark pioneering more green and future-proof developments,\u201d said Mr. Po. <\/p>\n\n\n\n<p>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\u2019s first LEED-certified neighborhood development.\u00a0 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 &amp; Investment Corporation; Jaime Enrique Y. Gonz\u00e0lez, Board Director of ArthaLand; Leonardo Arthur T. Po, Executive Vice President and Treasurer of ArthaLand; Jaime C. Gonz\u00e0lez, Vice Chairman and President &amp; CEO of ArthaLand; PSE Chairman Jose T. Pardo; PSE President &amp; CEO Ramon S. Monzon; PSE Director Roberto Cecilio O. Lim; PSE Chief Operating Officer Roel A. Refran; and PSE Director Alejandro T. Yu.\u00a0 <\/p>\n","protected":false},"excerpt":{"rendered":"<p>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.<\/p>\n","protected":false},"author":3,"featured_media":4801,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[2178,2042],"class_list":["post-4800","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-newsmakers","tag-arthaland","tag-real-estate"],"_links":{"self":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/4800","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/comments?post=4800"}],"version-history":[{"count":1,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/4800\/revisions"}],"predecessor-version":[{"id":4802,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/4800\/revisions\/4802"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media\/4801"}],"wp:attachment":[{"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media?parent=4800"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/categories?post=4800"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/tags?post=4800"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}