ARTHALAND maps portfolio growth after P2.15-B raise

ARTHALAND Corp. is preparing to nearly double its property portfolio over the next decade after raising P2.15 billion from a preferred share offering, giving the developer additional capital to support its next phase of expansion.

The company said Monday it is targeting one million square meters of gross floor area, up from more than 450,000 square meters currently. Its portfolio has grown nearly five-fold since its maiden public offering.

ARTHALAND listed its Series G and H preferred shares on the Philippine Stock Exchange, its fifth preferred share listing.

The P2.15-billion offering was 1.43 times oversubscribed. The Series G preferred shares carry an annual dividend rate of 8.1250 percent, while the Series H shares offer 8.75 percent.

Proceeds will be used to fund the redemption of ARTHALAND’s Series D preferred shares and support ongoing and future developments.

"Today's listing of our Series G and H Preferred Shares tells us that trust is still there, in a simple idea that high-quality, sustainable developments create a wealth of life at home, at work, in the community, and for the country," ARTHALAND Director Christopher T. Po said.

The company’s development pipeline includes Sondris, a luxury residential project along Arnaiz Avenue in Makati being developed in partnership with Mitsui Fudosan.

ARTHALAND is also developing Liv, a two-tower residential project along Katipunan Avenue in Quezon City, and Una Apartments Tower 3 at Sevina Park in Biñan, Laguna.

In Cebu City, the company has completed the master plan for Project Vanilla, an estate that will be developed in phases.

The projects are expected to expand ARTHALAND’s presence across different property market segments as it works toward its one-million-square-meter portfolio target.