Listed holding company A. Soriano Corp. said its board approved the sale of a 2,336-square-meter lot in Cebu City for P397.1 million.
Anscor said in a disclosure to the stock exchange it signed a deal for the sale of Cebu Business Park lot in Barangay Mabolo to Cebu-based property developer Skyrise Realty and Development Corp.
Anscor said the sale, which was done via 100-percent owned unit Uptown Kamputhaw Holdings Inc., would enable the company to realize investments in the property.
The transaction cost was based on the market value of the property.
Skyrise Realty has been building IT buildings, catering to business process outsourcing companies. It is the builder of four commercial buildings at Cebu IT Park, known as Skyrise buildings and the 12-story Skyrise Alpha that will host several BPO companies, including a large multinational financial institution.