Arthaland ventures into mixed-use dev’t

Boutique property developer Arthaland Corp. will make its debut in mixed-use estate development with a master plan for an eight-hectare project in Biñan, Laguna, that is projected to generate more than P17 billion in revenue in the coming years.

In a recent briefing, Arthaland president Jaime Gonzales, executive vice president/treasurer Leonardo Arthur Po and executive vice president/head of business and project development Christopher Narciso discussed the company’s expansion plans for the years ahead.

At the very minimum, Gonzales said Arthaland would increase its development space fivefold.

“And yet more properties are being offered to us beyond the fivefold increase (goal),” he said.

Narciso said the Laguna master plan covered the construction of 10 to 12 buildings plus about 100 townhouses.

“The master plan calls for more than 130,000 square meters in developed space. All combined, we’re looking upward of P17 billion in revenue from that project alone,” Narciso said.

These are expected to come from real estate sales which could be recognized as revenue over a six- to eight-year period.

Po said Arthaland was “keeping  in pace with the market” but would like to run the market conservatively.

Starting with an upscale high-rise condominium residential project (Arya Residences in BGC), followed by high-rise premium office developments in BGC, Cebu and Arca South, Arthaland was now ready to embark on a mixed-use development, Po said.

The estate project in Laguna, which used to be a farm land, started with the delivery of a 340-bed dormitory in August last year, catering to students from the Laguna campuses of De La Salle University, Beacon Academy and International School.

Next to be launched are the townhouses that will cater to young professionals and families, Gonzales said.

Meanwhile, Arthaland is also embarking on a new office development in Arca South, Taguig, the former FTI complex now being developed by Ayala Land into a new central business district. It plans to sell office space but keep commercial/retailing space in its portfolio as part of its plan to grow recurring income.

In 2017, Arthaland bought a 4,000-sqm land in Arca South for P1.05 billion.

It is also set to launch an upscale residential development along Pasay Road in Makati.

These are seen in line with the five-year expansion program announced by the company in 2016, when it raised P2 billion from an offering of preferred shares. It mapped out then a P30-billion five-year expansion program.