ARTHALAND CORP. OPEN TO PARTNERING WITH LOCAL PROPERTY OWNERS
Local property owners have approached Arthaland for possible joint ventures The first phase of its office building, Cebu Exchange, is set for completion in 2020
Local property owners have been approaching listed property developer Arthaland Corp. for a possible joint venture. Arthaland president Jimmie Gonzales said that they are now in the process of evaluating these proposed partnerships and locations to build more “green projects” in Cebu. He said a joint venture is ideal because it’s a win-win deal for both partners, with Arthaland taking care of everything from land development to marketing. Arthaland is excavating its first development in Cebu named Cebu Exchange on Salinas Drive in Lahug, Cebu City in front of the Cebu I.T. Park. It’s spending P8 billion for the development of Cebu Exchange.
Listed property developer Arthaland Corp. is open to partnering with homegrown landlords to build more “green projects” in Cebu.
Citing the success of its developments in Manila and now in Cebu, Arthaland Corp. president Jimmie Gonzales disclosed that there are already quite a number of local property owners who have approached them for a possible joint venture.
“We are happy to go into partnerships,” said Gonzales, adding that they are now evaluating these proposed partnerships and locations.
Gonzales said a joint venture is an ideal partnership strategy because it is a win-win deal for both partners, with Arthaland taking care of everything from land development to marketing. The type of development to be erected would depend on the location.
Arthaland is in the excavation stage for its first development in Cebu named Cebu Exchange located on Salinas Drive in Lahug, Cebu City in front of Cebu I.T Park.
“Our project here is very much on track. This is our first project in Cebu, and it is a very ambitious project. I think we will be changing the skyline of Cebu,” said Gonzales.
The company’s bullish prospects in Cebu were buoyed by the positive reception they got for Cebu Exchange. “The interest and commitment we have been receiving have far exceeded our expectations,” he said.
Arthaland is spending P8 billion for the development of Cebu Exchange, its first green office project in the Visayas and Mindanao.
The company considers the office sector to be its entry point in Cebu because of its booming information technology and business process management (IT-BPM) industries.
By 2019, the Cebu Economic and Business Unit (Cebu) projects 200,000 workers employed in the IT-BPM industries in Cebu City.
This Grade A office will be built on a more than 8,000-square-meter property with an 87,000-square-meter leasable area. The 38-storey office building will house four floors of retail outlets and 30 large-cut flexible office floors.
The development of the office building is divided into two phases, with the first phase to be completed by 2020 and the second phase by 2022.
Arthaland’s major shareholder is CPG Holdings Inc., a parent company of Century Pacific Food Inc., one of the largest and leading players in the Philippine canned food industry.
Under CFPI are brands such as Century Tuna, 555, Argentina Corned Beef, Angel Milk, Birch Tree, and Swift, among others.
Its other major shareholder is international investment firm AO Capital Group. /