Mapua expanding to Davao
YUCHENGCO-led Mapua Institute of Technology, the country’s largest engineering school, is expanding to Davao City with the acquisition of a new 2.3-hectare landbank.
In a disclosure to the Philippine Stock Exchange on Tuesday, the Yuchengcos’ House of Investments (HI) announced that Malayan Colleges Inc. – which operates under the Mapua brand – agreed to purchase this property in Davao City for P425 million.
Davao City is a center of trade and commerce in Mindanao and likewise a booming business process outsourcing hub.
“This marks the group’s continued commitment to expand in the education sector,” the HI disclosure said.
“The completion of the purchase is subject to various conditions that need to be fulfilled.”
iPeople inc. (IPO) together with HI wholly owns Malayan Colleges. IPO is the Yuchengco group’s vehicle for the education and information technology sectors.
Mapua is a non-sectarian institute for higher learning and a pioneer in technical education. With its first campus in Carriedo Street in Quiapo, Manila, it started out as a night school with 80 students enrolled in civil engineering and architecture. Today, it claims to be the biggest engineering school in the Philippines, with at least 15,000 students.
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