Arthaland to grow portfolio by 5x by 2024

MANILA, Philippines — Arthaland, the listed boutique developer of the Po family, aims to expand its development portfolio of condominium projects and luxury apartments by five times by 2024, its top official said.

In a press briefing yesterday, Arthaland president Jaime Gonzalez said the company is optimistic about its prospects for the coming years following a rosy 2019.

“With the overwhelming positive response toward our green developments in 2019, we are on track to grow our development portfolio by five times by 2024,” he said.

Gonzalez said Arthaland has been benefitting from the country’s strong economic growth, low interest rate environment and manageable single-digit inflation rate.

“The economy is doing well. Inflation is at a low single digit,” he said.

Leonardo Po, executive vice president and treasurer of Arthaland, said the positive environment enabled the company to post a strong performance in 2019.

“2019 was a very exciting year for us and we look forward to an even better year,” Po said.

Gonzalez said the company plans to grow its development portfolio to about 500,000 square meters in gross floor area by 2024 from roughly 100,000 sqm in GFA at present.

The company has three developments under construction and expects to hit P10 billion in reservation sales for 2019 from three developments.

These are the Cebu Exchange, the single largest green office building in the Philippines with approximately 11 hectares of gross floor area whose first phase is due for turnover in 2020; the Savya Financial Center,  premium twin tower office development with a fully integrated retail component located in Arca South with a size of 60,000 square meters in GFA and Sevina Park, a low density mixed use community in Binan, Laguna.

This particular development, which is a pioneer for LEED neighborhood development and LEED home certification, has a land area of 8.1 hectares and 139,000 sqm in GFA.

For this year, Arthaland will continue to expand its green development portfolio with the launch of a high end green residential condominium in Cebu City, a green luxury residential condominium in Makati CBD and upscale apartments in Sevina Park.