MANILA, Philippines – City & Land Developers Inc., a member of the Cityland Group of Companies, has obtained approval from the Securities and Exchange Commission to issue short-term commercial papers amounting to P200 million.
Proceeds from the offering will be used to cover the company’s funding requirements for its projects.
The company earlier turned over units at Manila Residences Bocobo, a 34-story mixed-use condominium building in Ermita, Manila.
City & Land has been beefing up its landbank, having acquired prime properties along Veterans Village and Samar Ave. in Quezon City, and Roxas Blvd. in Manila.
The Cityland Group is a trusted name in the real estate industry with a proven track record of more than 25 years.
City & Land primarily develops residential, office, commercial, institutional and industrial sites catering to the low- to middle-income segments since the projects are offered at affordable prices.
The company developed residential units in Paranaque, as well as an office and residential condominium project in Ortigas Center, Pasig City.
Affiliate Cityland Developers Inc., on the other hand, develops medium-to high-rise offices and residential condominiums located in Makati, Mandaluyong and Ortigas. It also has farmlots in Bulacan and Cavite.