Arthaland Corp., a property developer controlled by the Po family, aims to grow its real estate portfolio by nearly five times over the next six years amid a positive outlook for the industry.
Documents filed with the Securities and Exchange Commission showed Arthaland was expecting residential and office projects to hit 520,000 square meters in gross floor area by 2022, up from the current 110,000 sqm of GFA.
“Arthaland believes that while the outlook for the entire real estate sector is positive, the real estate sub-sectors will be in varying stages of growth from 2016 to 2022. Given recent trends in the industry, ALCO has identified opportunities in the office sub-sector following the continuous strong demand for office space in key locations. In the residential sub-sector, ALCO has identified pockets of the market segments that are promising,” the company said.
It said of the expected 520,000 sqm portfolio by 2022, about 50 percent or 260,000 sqm would be in the office segment and the balance would be in upper middle to high-end residential segment.
The company also plans to expand its presence in various areas in the country.
Arthaland said for the planned office space, 40 percent would be located outside Metro Manila through the Cebu Exchange project.
The remaining 60 percent will be developed in Metro Manila’s several business districts including Fort Bonifacio, Makati, Ortigas and southern Metro Manila.
Arthaland plans to build 50 percent of the planned residential projects outside Metro Manila through its Biñan Laguna project. The remaining 50 percent will rise in Fort Bonifacio and Makati.
The company recently announced two projects”•an office tower called Cebu Exchange and a residential development in Biñan, Laguna. These two projects already account for 56 percent of the target 520,000 sqm GFA by 2022.