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Manila Bulletin devider Business devider Arthaland sets P7.4-B capex

Arthaland sets P7.4-B capex

Published Jun 26, 2022 07:00 pm

Upscale and green property developer Arthaland Corporation is allotting P7.4 billion for capital expenditures this year as it plans to launch two projects with a gross development value of P17.5 billion this year.

During the firm’s annual stockholders’ meeting, Arthaland Vice Chairman and President Jaime C. González said the capex budget will be used to fund land acquisition as well as for the development of on-going projects.

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The P17.5 billion-worth of projects slated for launching this year includes Eluria, six mid-rise buildings within the follow-on component of Sevina Park, as well as the commercial lots for sale also in Sevina Park.

Eluria, Arthaland's pioneer development in Makati, will be a sustainable luxury residential development in Legazpi Village which will be launched this year.

Located within a brief and easy walking distance from Greenbelt mall, it will have a total gross floor area of approximately 14,600 square meters.

“This ultra low density, multi-certified residential address will offer spacious limited edition designer homes elevated with unsurpassed quality, attention to detail, and exceptional white glove service,” said Gonzalez.

Eluria will be offering only 37 residential units with a maximum of two apartments per floor. Elevator cabins are designed to open into residents’ personal lobbies to provide utmost security and privacy.

Arthaland is also set to launch its follow-on residential component at Sevina Park within the third quarter of 2022.

“This will be our flagship project that will expand Arthaland’s horizon and cater to a broader market segment,” said Gonzalez.

This project will be comprised of six mid-rise residential buildings with the first tower scheduled to be launched in the third quarter of this year.

The first tower will offer a mix of studio and one-bedroom units and it will have a gross floor area of approximately 16,300 sqm.

In addition, Arthaland is poised to launch commercial lot sales within the Sevina Park this 2022 to further complement the amenities being given to community within the area.

Approximately 10,000 sqm of land zoned for commercial use will be launched for sale this year while the remaining area of approximately 5,500 sqm. will be retained by Arthaland for its own development and use.

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