Property giant’s family expands
Suntrust Properties, a wholly owned subsidiary of property giant Megaworld Corp., has announced that Stateland Inc. is now officially part of its growing family. For Suntrust, acquiring 97 percent of Stateland’s shares is not just about the new expansion opportunities now made available to the company. It also opens a new chapter in its story of steady growth.
Being on the same page, sharing similar values, and having set their sights on a common goal, it was only natural for this affordable home developer to finally find its place and second home in the sun.
Suntrust Properties Inc., a wholly owned subsidiary of property giant Megaworld Corp., announced this week that Stateland Inc. is now officially part of its growing family. This followed after the Philippine Competition Commission approved last month Suntrust Properties’ acquisition of the 97 percent of shares of Stateland.
“This acquisition inspires everyone connected to Suntrust to realize that we have become much bigger. It manifests pride and progress. Yet, it comes with a huge responsibility,” noted Suntrust Properties president Harry M. Paltongan.
“What’s good though is that we practice the same values like ‘malasakit’ to the core. The loyalty of our people to the company is what we promote to enable our continued expansions. Many of their people have stayed for decades with Stateland—and so with Sun- trust,” Paltongan related.
As this offered the promise of better and happier days ahead, the hardworking, dedicated team behind Stateland thus embraced the entry of Suntrust Properties with much excitement and hope.
The same goes for Suntrust Properties, which meanwhile remains committed to providing the broader market with affordable home solutions that could help ease the huge housing backlog in the country.
“Welcoming Stateland in Suntrust’s growing family is a significant moment as this helps complete
Welcoming Stateland in Suntrust’s growing family is a significant moment as this helps complete the Megaworld group’s project offerings
the Megaworld group’s project offerings. Stateland will be made to focus on the lower-end market, meaning the affordable, economic, socialized segment. This is where the housing backlog is and we need to do our share to help solve this serious issue of homelessness. Meanwhile, Suntrust will continue to focus on the medium and open market,” Paltongan explained.
Currently, both Suntrust and Stateland are strong industry players and reliable partners to many homebuyers and investors. It thus seemed only natural to see both property developers sharing their expertise and embracing each other’s values in a bid to better serve the market.
And at the ceremonial turnover held on July 9, top officials of Suntrust and Stateland reiterated their commitment to do so, to ensure even more fruitful and stronger years ahead for both companies.
For his part, Paltongan reiterated his hopes to inspire the new Stateland as he expressed his plans for the company.
“We are looking at lots to develop. We are going to expand the company’s operations. We are going to have more projects and we do not intend to change the name Stateland because it has been there for 42 years already, and has reached this far as a profitable company,” Paltongan explained.
“And with Stateland now officially part of our growing family, we have already started sharing with them our Suntrust Creed, which guided us in our growth. We also discussed with them our third decade slogan of ‘Inspire to Aspire’ while at the same time shared our mission and vision to them,” he said.
This means that Suntrust Properties will remain steadfast in serving as an inspiration to many individuals, including its employees, to aspire to become a better version of themselves, and at the same time, to work on further growing the company so it can help more people in terms of job opportunities.
That mantra, according to Paltongan, should apply now more than ever, with Suntrust Properties being in the midst of a robust expansion plan.
“In this process of expansion, everyone has every opportunity to aspire to be become better also in what they do. This expansion becomes everyone’s stage to perform. With Stateland now part of the Suntrust Group, we believe it will help add more credibility to the company. Thus, we try harder to deserve such credibility as well,” Paltongan said.
“We expect a Suntrust group that will evolve for the better: a better Suntrust Properties in the medium and open market; a better Stateland in the affordable, economic and socialized housing sector; a better Sunrays Property Management, which is taking care of our completed projects; a better Suntrust Ecotown Developers, which is in charge of our industrial park developments; a better Governor Hills Science School; and a better Sherwood Hills Golf Club, which we are managing. These form part of the Suntrust Group and everyone must elevate themselves in the quest for perfection,”
Paltongan concluded.