ARTHALAND BUYS PRIME LOTS IN ARCA SOUTH
Top end green developer ArthaLand recently purchased two prime lots in Ayala Land’s Arca South project through newly formed subsidiary, Savya Land Development Corporation. The company plans to build either a commercial or a mixed-use development in the property sized over 4,000 square meters.
The new project is scheduled to break ground in 2018.
ArthaLand is the developer of top- end projects, Arya Residences and Artha- Land Century Pacific Tower which are both located in Bonifacio Global City, in Taguig. It has also recently entered the Visayas and Mindanao region through Cebu Exchange, an IT-BPM designed building to rise along Salinas Drive at the Cebu IT Park Area in Lahug district.
It is on its final stage in master planning its property in Binan, Laguna which is set to be its first mixed use prime horizontal development.
This is aligned with the ArthaLand’s growth target that it aims to achieve in the next five years.
Cebu project on track
The company also announced recently that it signed an agreement with China Railway Dongfang Group and Knusford Berhad for US$ 166 million of engineering, procurement and construction ( EPC) services, based on terms and conditions to be mutually agreed upon, covering general construction works as well as interior fit- out and interior furnishing services for ArthaLand’s Cebu Exchange Project. China Railway Dongfang Group and Knusford will form a joint venture company in the Philippines to execute the EPC contract.
The collaboration among the three groups brings together strengths in design, building construction, project management and expertise in the Philippine property sector.
Solid partners
China Railway Dongfang Group is a wholly owned subsidiary of China Railway Group Limited ( CREC), one of the largest construction conglomerates in the world. CREC was responsible for over 60% of the railway construction of China in addition to major projects in the construction of bridges, tunnels, airports, high- rise buildings and municipal facilities. While CREC is present in over 60 countries worldwide, the Agreement signed with ArthaLand is the first venture for CREC in the Philippines.
Knusford Berhad is a Malaysian public listed multi- disciplinary construction company involve in major construction works, property developments and investments. The Group also provides machinery reconditioning, sales and rental of light, medium and heavy machinery and equipment, as well as the trading of building materials. The Agreement signed with ArthaLand and CREC is also the first venture for Knusford in the Philippines.