Golden MV Holdings, Inc., the death care and residential business of the Villar family, reported Tuesday it will acquire three three-privately held companies for about P5.2 billion.
The deal gives Golden MV access to 396.88 hectares of prime land in Villar City, a major development covering 3,500 hectares across Metro Manila and parts of Cavite, the company said in a disclosure to the stock exchange.
It said its board of directors approved the acquisition of all the issued and outstanding capital stock of Althorp Land Holdings Inc., Chalgrove Properties Inc. and Los Valores Corp. from Fine Properties, Inc. and Hollinger Holdings Corp. These companies own nearly 400 hectares of prime land in the Villar City development.
Villar City aims to be a central hub for Metro Manila, combining economic, lifestyle, cultural, and leisure activities to redefine urban living.
Golden MV strengthens its role in this important project with the acquisition.
Plans for Villar City include two golf courses, a church, an events arena, a university and an entertainment complex. The development is expected to attract residents and businesses, creating jobs and boosting the local economy. Villar City will be vital for future investments in the area.
Under the plan, Golden MV will focus on developing Villar City, while Villar’s property firm Vista Land & Lifescapes Inc. will continue to develop its own land bank through Vista Estates across the country.
The teamwork will ensure that both companies contribute to sustainable urban growth. They aim to meet current urban needs and prepare for the future, improving the quality of life for residents. Jenniffer B. Austria
The development will also include better infrastructure and community services.
Golden MV, formerly Golden Bria Holdings Inc., incorporated on Nov. 16, 1982, is mainly engaged in the development and sale of memorial lots and columbiums across various parts of the Philippines.
For its residential development business, the company operates through Bria Homes Inc. with housing projects located in over 30 cities and municipalities in the country.
