Boutique property developer Arthaland Corp. said it is close to acquiring two new big parcels of land that could provide future source of revenues for the company.
Arthaland said during the company’s annual stockholders meeting on Friday it is the process of buying two multi-hectare properties which it plans to develop over a 10- to 15-year period.
The first property is a 3.6-hectare land in one of the most prime central business districts in Metro Manila and the second is a five-hectare property in a prime city center in southern Philippines.
“Apart from these multi-hectare properties, we are also in discussions for the acquisition of properties for single and dual-tower projects in Metro Manila,” Arthaland said.
Arthaland recently entered the broader mid-market segment of the residential sector to cater to more customers.
“By doing so, we will have wider sources of demand. In turn, this will result in a more diversified portfolio of projects that will provide better returns on a risk-adjusted basis,” Arthlaland said.
The group launched in 2023 Una Apartments—an 8.1-hectare master-planned community within Sevina Park in Binan, Laguna. The first tower was sold out quickly, prompting the company to launch the second tower.
“In executing our plans to enter the mid-market segment, we ensure that we maintain our leading presence in the luxury and upscale segments and that we design our product offerings with the same quality and sustainability standards for which Arthaland is known,” the company said.
Meanwhile, the property firm said it adopted a more cautious approach to new office/commercial developments in the near-term given the recent trends for hybrid or remote working protocols and artificial intelligence.
“We note that demand for residential developments remains strong, consistent with the continued economic growth and the fundamental need for housing among Filipinos. Thus, in the near-term, our line-up of new projects is largely composed of residential developments in high-growth urban areas,” the company said.
“We will continue to monitor developments in the office/commercial sector and evaluate opportunities in this sector in the near-term,” it said.
