Arthaland to build more multi-certified sustainable condominiums following the successful listing of P2.5 billion worth of preferred shares
Arthaland, the country’s foremost green developer, successfully raised P2.5 billion to fund its expansion program with an initial dividend rate of 7.326 percent per annum. A substantial portion of the proceeds from the offer will fund the necessary investment of Arthaland into its upcoming two-tower, multi-certified sustainable residential project catering to the broader mid-market segment. This will supplement Arthaland’s larger, multi-phased projects, which will provide a steady pipeline of sustainable, master-planned projects that will be launched over the next 10 years and beyond.
“We share the success of this offer with the investors who believe in Arthaland’s vision of building world-class and sustainable developments that will provide a wealth of life at home, at work, in the community, and in our country. We are very excited about our new project following the overwhelming market response to Una Apartments in Sevina Park, representing our first foray into the broader mid-market segment. Tower 1 of Una Apartments was completely sold out within 10 months, and we have begun selling Tower 2, which is also experiencing very strong demand, ”said Jaime C. González, vice chairman and president of Arthaland.
It is the fourth time for Arthaland to list its preferred shares with the Philippine Stock Exchange, and since its maiden offering, the company has worked to acquire properties, launch new projects and complete them on time. It has assembled a portfolio with a total gross floor area of 456,000 sqm, reflecting an almost five-fold growth during the past 5 years.
Each project is unique, best-in-class and adheres to the highest standards of sustainability. From the Bonifacio Global City, it has expanded its presence into the high-growth areas of Metro Cebu and Metro Laguna with Cebu Exchange, Lucima, and Sevina Park. It has also expanded its presence into more established central business districts of Makati and Taguig with Eluria and Savya Financial Center.
BDO Capital and Investments Corp. was the sole issue manager, lead underwriter, and book runner for the transaction.
