Security Bank approved a total of P3.5-billion loan to Science Park of the Philippines Inc. (SPPI) and Pueblo de Oro Development Corporation (PDO) to build more industrial parks and residential spaces.
In a statement on Friday, Security Bank said SPPI received P2.56 billion while PDO acquired the remaining P960 million of the total loan.
Security Bank tapped the private firm Investment & Capital Corporation of the Philippines (ICCP) to complete the loan agreements.
“ICCP is proud to support PDO and SPPI in furthering their respective missions of responsible, climate-adapted township and industrial estate developments,” ICCP chairman and chief executive officer Valentino Bagatsing said.
SPPI has built industrial parks spanning a total of 1,500 hectares, with projects located in Laguna, Batangas and Bataan.
SPPI is looking to build new projects in San Jose in Batangas and Tarlac City. In partnership with the Bases Conversion and Development Authority, SPPI will break ground for a 100-hectare industrial park in New Clark City, Tarlac.
Meanwhile, PDO has expanded its residential and mixed-used projects to over 400 hectares in Batangas, Pampanga and Lapu-Lapu City, among others.
PDO will build more projects in Lipa City, Ibaan in Batangas, and Carcar in Cebu. Security Bank shared that the builder will announce two major projects within the next two years.
SPPI has been highly certified with a gold rating under LEED or the Leadership in Energy and Environmental Design which was created by the US Green Building Council.
The council says 40 percent of the world’s carbon emissions come from inefficient buildings that do not conserve energy and water, among others.