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Manila Bulletin devider Business devider The Stock Market devider Golden MV buys 397 hectares of land in Villar City

Golden MV buys 397 hectares of land in Villar City

Published Oct 1, 2024 01:02 am

Golden MV Holdings, Inc., a publicly-listed firm controlled by billionaire Manuel B. Villar Jr., has acquired 396.88 hectares of prime land in Villar City for P5.2 billion.

In a disclosure to the Philippine Stock Exchange, the firm said its board of directors has approved the acquisition of three companies from companies owned and controlled by Villar.

This is through the strategic acquisition of substantially all the issued and outstanding capital stock of Althorp Land Holdings, Inc., Chalgrove Properties, Inc. and Los Valores Corporation from Fine Properties, Inc. and Hollinger Holdings Corp.

The three companies own a total of 396.88 hectares of prime land in the Villar City development, a visionary development that spans 3,500 hectares across Metro Manila and portions of Cavite.

Villar City is envisioned to become the "new center of gravity" for Metro Manila. This sprawling integrated development, spanning across 15 cities and municipalities, aims to transform the landscape of urban living.

Designed as a convergence of economic, lifestyle, cultural, and leisure activities, Villar City is not just a landmark project but a “city within cities” that aims to redefine modern living and shape the future of the region.

Golden MV’s acquisition of almost 400 hectares of land in Villar City further strengthens its asset base, positioning the company to play a central role in the development of this transformative project.

Villar City, with recent announcements including the construction of two golf courses, a church, an events arena, a university, and an integrated entertainment complex, is emerging as the Philippines’ newest “Megalopolis.”

The acquired companies will allow Golden MV to concentrate on the development of Villar City, a legacy project of Manuel B. Villar, Jr.

“With this acquisition, Golden MV reaffirms its commitment to becoming a key player in shaping the future of this expansive and innovative development,” the firm said.

While Golden MV focuses on the strategic development of Villar City, Vista Land & Lifescapes, Inc. will continue to develop its own landbank, through Vista Estate, across the country.

Both entities will operate complementary development strategies, with each contributing to the Villar Group’s overall vision for sustainable and inclusive urban development.

Related Tags

Manuel B. Villar Jr. Golden MV Holdings Vista Land & Lifescapes Inc. Villar City
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