Philippines Property Developer on Sales Increase : Sustainability Features as Key Preference

MANILA – Arthaland Corp posted a slight increase in profit last year on the back of higher revenues of its flagship project Arya Residences in Bonifacio Global City.

In a disclosure to the Philippine Stock Exchange, the boutique property developer said its net income reached P283 million in 2013, an improvement of 6.39 percent from the P266 posted in the prior year.

Revenue from real estate sales jumped 60 percent to P2.33 billion last year from P1.45 billion in 2012 on “sustained sales take up, completion of the first tower of Arya Residences and on a €schedule construction of the project€ second tower.”

€œArthaLand has benefited from the very vibrant economic environment of 2013 that encouraged more investors to put their stake in the property sector, said Angie de Villa-Lacson, the company’s president and chief executive officer.

€œAmong the many available developments, many have chosen Arya Residences, recognizing its quality and sustainability features,” Lacson said.

Rising in Bonifacio Global City, the two-tower Arya Residences is the Philippines first condominium project that is on target to achieve dual green building certification.

Units in the first tower will be turned over beginning the fourth week of March while the second tower will begin delivery by the first quarter of 2016.

To sustain its growth trajectory, ArthaLand eyes to launch a “top-grade” office project within the first half of 2014. The company is in talks with landowners to expand its land bank and allow the property developer to launch new projects every year to keep its momentum.

€œWith the success of our flagship project, landowners have seen that we can deliver world class, boutique, and sustainable projects. They invite us to explore their properties,” said Lacson.

Source: InterAksyon

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