MANILA, Philippines — Golden MV Holdings Inc. led by tycoon Manuel Villar Jr. has acquired about 400 hectares of land in the tycoon’s 3,500-hectare Villar City for P5.2 billion.
Golden MV, is getting access to 396.88 hectares of prime land in Villar City following its acquisition of three companies from firms also owned and controlled by Villar.
In a stock exchange filing, Golden MV said its board approved the acquisition of substantially 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 acquisitions will allow Golden MV to concentrate on the development of the massive integrated project that spans across Metro Manila and portions of Cavite,
Golden MV said that securing approximately 400 hectares of land in Villar City further strengthens its asset base, positioning the company to play a central role in the development of the transformative project.
“With this acquisition, Golden MV reaffirms its commitment to becoming a key player in shaping the future of this expansive and innovative development,” the company said.
Golden MV has reiterated its commitment to playing a key role in shaping the future of real estate development in the country, most notably through its work on Villar City.
Villar City is a sprawling integrated development spanning across 15 cities and municipalities.
Launched in August last year, Villar City is Villar’s most ambitious project to date.
It is designed as a convergence of economic, lifestyle, cultural and leisure activities, with the aim of redefining modern living and shaping the future of the region.
Recent announcements for the Philippines’ newest “megalopolis” include the construction of two golf courses, a church, an events arena, a university and an integrated entertainment complex.
Close to 900 hectares of the 3,500 hectares in Villar City have been activated or developed by Vista Land at present. These developed areas are home to neighborhoods, shopping complexes and offices.
While Golden MV focuses on the strategic development of Villar City, Vista Land & Lifescapes Inc. will continue to develop its own landbank through Vista Estate across the country.
Both entities will operate complementary development strategies, with each contributing to the Villar Group’s overall vision for sustainable and inclusive urban development.