RAPLLER - Publicly-listed holding firm Aboitiz Equity
Ventures Inc. (AEV) folds under its wing its affiliate, Cebu-based real
estate firm, Aboitizland Inc. as part of the group's consolidation
efforts.
AboitizLand is a wholly owned subsidiary of unlisted Aboitiz &
Co., which held 2.74 million shares or a 49.54% stake in AEV. This
transfer allows AEV to directly engage in and profit from real estate.
In
a disclosure to the stock exchange on Friday, September 28, AEV said
its board approved the transfer of the entire stake of Aboitiz & Co.
in AboitizLand through a for P3.2 billion-worth share purchase
agreement and other collateral contracts.
"We are looking at expanding AEV’s earning capacity in business
sectors that have scale, amid a growing domestic economy and Filipinos'
improved earning capacity. AboitizLand is an ongoing business with
strong recurring income from its industrial estates as well as from its
many existing projects. It also has a backlog of prospective innovative
projects," AEV President & CEO Erramon Aboitiz said.
AboitizLand
is a leading Cebu real estate developer with investments in
residential, commercial and industrial developments, and property
management.
It is also the developer and operator of the Mactan
Economic Zone II in Lapu Lapu City and the West Cebu Industrial Park in
Balamban, through its subsidiary, Cebu Industrial Park Developers Inc.
Known
for its strong brand and a reputation for quality projects, Aboitiz
said AboitizLand also has a landbank that is "valued at attractive
valuations."
Tuesday, October 2, 2012
Saturday, September 11, 2010
AboitizLand allots P1B in the south
AboitizLand continues to prop up its portfolio in the south, allocating P1 billion as capital expenditures for the year for a number of projects it is developing in the area.
The amount will be spent for Persimmon Tower 2 and Ajoya residential development, which the company has started constructing on top of other projects that the company is looking at.
"We’re putting up a new tower in Persimmon. We’re (also) looking at a new mid level house and lot program in Mactan Cebu, called Ajoya," said Erramon Aboitiz, Aboitiz Equity Ventures, Inc. president, in an interview.
Aboitiz Equity Ventures and AboitizLand are affiliates, both owned by holding firm Aboitiz & Co.
This year’s capital expenditures is a 20 percent increase from the previous year’s P800 million capex that the company spent for Persimmon Tower 1 and phase 1 of Kishanta subdivision.
Aboitiz, in an interview last year, said they want to build the property business, banking on the group’s more than 700-hectare landbank in the southern capital of the Philippines.
AboitizLand prides itself for being the premier real estate company in Cebu in terms of quality and innovation.
The Persimmon project showcases the company’s active role in the property industry. Persimmon is situated in a two-hectare property in Mabolo, Cebu, where the company intends to build five residential and commercial structures .
The idea is to eventually have four buildings, then the mini mall.
Aboitiz meanwhile said that apart from Persimmon and Ajoya, Aboitiz Land is also looking at "some two-storey town houses" which it will call Pristina North.
AboitizLand is also busy in redeveloping its 70 hectare special economic zone Mactan Export Zone 2 (MEZ2) which is "starting to get locators," said Aboitiz.
"In terms of major project, we don’t have that now, but we are busy in redeveloping our properties like the Mactan Export Zone," he said.
Currently, MEZ2 hosts 48 locator-companies that notably include Lexmark Phils. Inc, Tamiya, Phils., Olympus Optical and Lear Corp..
For details on Aboitiz Land properties, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Malaya, 11 September 2010
For details on the Real Estate Service Act > www.ra9646.com
The amount will be spent for Persimmon Tower 2 and Ajoya residential development, which the company has started constructing on top of other projects that the company is looking at.
"We’re putting up a new tower in Persimmon. We’re (also) looking at a new mid level house and lot program in Mactan Cebu, called Ajoya," said Erramon Aboitiz, Aboitiz Equity Ventures, Inc. president, in an interview.
Aboitiz Equity Ventures and AboitizLand are affiliates, both owned by holding firm Aboitiz & Co.
This year’s capital expenditures is a 20 percent increase from the previous year’s P800 million capex that the company spent for Persimmon Tower 1 and phase 1 of Kishanta subdivision.
Aboitiz, in an interview last year, said they want to build the property business, banking on the group’s more than 700-hectare landbank in the southern capital of the Philippines.
AboitizLand prides itself for being the premier real estate company in Cebu in terms of quality and innovation.
The Persimmon project showcases the company’s active role in the property industry. Persimmon is situated in a two-hectare property in Mabolo, Cebu, where the company intends to build five residential and commercial structures .
The idea is to eventually have four buildings, then the mini mall.
Aboitiz meanwhile said that apart from Persimmon and Ajoya, Aboitiz Land is also looking at "some two-storey town houses" which it will call Pristina North.
AboitizLand is also busy in redeveloping its 70 hectare special economic zone Mactan Export Zone 2 (MEZ2) which is "starting to get locators," said Aboitiz.
"In terms of major project, we don’t have that now, but we are busy in redeveloping our properties like the Mactan Export Zone," he said.
Currently, MEZ2 hosts 48 locator-companies that notably include Lexmark Phils. Inc, Tamiya, Phils., Olympus Optical and Lear Corp..
For details on Aboitiz Land properties, please contact Reby Ramirez @ +63 916.4044.555 / +63 922.883.9308 / +63 919.699.3572 or e-mail her at reby_ramirez@yahoo.com.
Source: Malaya, 11 September 2010
For details on the Real Estate Service Act > www.ra9646.com
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