Pryce Corp allots P80M for 4 memorial parks

Property firm-turned liquefied petroleum gas (LPG) distributor Pryce Corp. has earmarked around P80 million this year for the construction of four new memorial parks in Mindanao.

Newly-appointed Pryce president Nilo Ezequiel said the move is in line with the company’s plan to concentrate on the development of memorial parks following the divestment of its real estate properties.

Ezequiel said the new memorial parks will be relatively smaller than those already developed by the company. These new projects are in Malita, Davao, which sits on a four-hectare property; Malaybalay, Bukidnon; Manolo Fortich, Bukidnon; and Mislig, Surigao del Sur.

Construction of these memorial parks is expected for completion within the year, Ezequiel said.

The company currently has six big memorial parks. It is also looking at building another four memorial parks next year to meet the pent-up demand.

Ezequiel said the company is scouting for areas with a population of between 80,000 and 100,000 for the planned expansion.

Funding for the projects would come from the sale of the remaining real estate properties of the company, mostly located in Cagayan, Davao and Iligan.