Arthaland to develop 400-hectare property north of Metro Manila

INTERAKSYON - - Arthaland Corp. is beefing up its land bank as the property firm gears for the launch of the second tower of its "green" development in Bonifacio Global City, Taguig next week.

In a briefing, Angela de Villa-Lacson, Arthaland president and chief executive, said the company recently signed an agreement with a landowner to develop the latter's 400-hectare property in the north, marking the real estate firm’s maiden foray outside Metro Manila.

Arthaland is preparing the master plan for the property, but refused to identify its location.

"In terms of land bank, we're beginning to spread our wings. There are several landowners who have been approaching us. They approach us because they want something like Arya Residences which is a sustainable project," said Lacson.

The acquisition will expand the company's land bank, which includes two prime lots in Bonifacio Global City, one of which is located across the street from the proposed Shangri La Hotel and the Philippine Stock Exchange.

The said 2,233‐square meter property, considered as the company's "crown jewel," may feature a leasing component, Lacson said.

Arthaland also has a 35-hectare raw land in Tagaytay. The master plan for the project may have a "leisure play" into it, said Arthaland vice president Nina Cordero.

Arthland will spend P3.54 billion for the second tower of Arya Residences, bringing its total investment in the two-tower residential development to P6.20 billion.

The 43-storey tower will offer 211 units ranging from two-, three- and four-bedroom penthouse units of 124 to 385 square meters.

Unit prices in the second tower have increased by 5 percent to an average of P145,000 per square meter from that in the first tower, which has attracted high-net individuals as buyers.

The first tower of Arya Residences is already 75 percent sold, prompting the company to start excavation work on the second tower.

The two towers will be delivered in the first quarter of 2014 and 2016, respectively.

For more details on Arya Residences, you may contact Reby Ramirez: 0922.883.9308 / 0916.4044.555 / 0919699.3572 or reby_ramirez@yahoo.com.

For latest information on the Philippine Real Estate Industry and the Real Estate Service Act (RA9646), please visit www.ra9646.com.ph.