Bullish on its prospects this year, A Brown Co. Inc. (ABCI), the holding company of businessman Walter Brown, has lined up several real estate projects with a focus on low-density communities to take advantage of the strong demand.
The company will aggressively build up its real estate portfolio to sustain its growth momentum following a 27 percent jump in reservation sales to P1.9 billion last year.
Sales mostly came from projects based in Northern Mindanao. These include the Thai-inspired oral Resort Estates, the first residential resort estate in Initao, Misamis Oriental, and Ignatius Enclave Phase 2, a premiere gated subdivision in Upper Balulang, Cagayan de Oro, which features a clubhouse and park.
Using proceeds from its P1.33 billion follow-on offering last November, ABCI will start construction of the Coral Bay Suites, the first condo by the bay located in Initao, Misamis Oriental; the Teakwood Crest, featuring views of Macalajar Bay, mountains and cityscape in Brgy. Agusan, Cagayan de Oro City; and the Mountain Pines AgroTourism and Retirement Estates, an eco-farm concept located in the foothills of the Kitanglad Range in Manolo Fortich, Bukidnon.
Following its success in Northern Mindanao, ABCI is bringing the same concept to Luzon with several projects lined up in Tanay, Rizal. The company’s Adelaida Mountain Residences and Adelaida Homes project will feature lots and housing units together with a commercial frontage.
ABCI has earmarked P600 million for the development of real estate projects in key cities in Mindanao and Luzon. Some P400M has also been set aside for further strategic landbanking.
“The fund raising activity allows us to maximize opportunities in our real estate business alongside expansion in new growth industries. In recent years, ABCI has focused on strengthening our balance sheet. We are on track for further growth ,” said Robertino Pizarro, president and CEO of ABCI,.
SOURCE: Bilyonaryo
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