Arthaland set to achieve five-fold growth of its development portfolio in 2024

Manila, Philippines/June 28, 2024. With its strong performance in 2023 and the first six months of 2024, Arthaland is poised to achieve its target of growing its development portfolio by a multiple of almost five times by 2024. It had completed two flagship projects, Arya Residences and Arthaland Century Pacific Tower, with a combined gross floor area of 110,000 sqm, when it started its 5-year growth stage in 2019. Since then, it has worked to acquire properties, launch new projects, and complete them on time to assemble a portfolio with 456,000 square meters of gross floor area. From the Bonifacio Global City, it has expanded its presence into the high-growth areas of Metro Cebu and Metro Laguna with Cebu Exchange, Lucima, and Sevina Park. The Company also expanded its presence into the more established central business districts of Makati and Taguig with Eluria and Savya Financial Center. Each project is unique, best-in-class, and adheres to the highest standards of sustainability.

“2023 was a banner year for Arthaland in terms of revenues, land acquisition, and expansion into the broader mid-market segment,” said Jaime C. González, Arthaland Vice Chairman and President. “We reported record-high levels of revenues, achieved significant milestones for our projects, strengthened our culture of excellence, and cemented our leadership in sustainability.”

One of the critical factors underlying its strong revenue performance in 2023 is the cumulative level of reservation sales across its projects. This can be attributed to its deliberate approach to real estate development and the Company’s strong brand equity as the foremost real estate developer in the Philippines. Given this, Arthaland reported record-high consolidated revenues of Php6.6 billion in 2023, surpassing the peso equivalent of US$100 million, a benchmark for critical mass for many institutional investors. This reflects a more than doubling of revenues in 2022 and about 1.7x pre-pandemic revenues.

Arthaland also celebrates a year of high growth with its successful entry into the broader mid-market segment. While it maintains leadership in the luxury and upscale market segments, there is a high demand for top-quality and sustainable products designed for the needs of the broader mid-market segment. This is proven by the overwhelming market response to the launch of Una Apartments, a multi-tower residential condominium development within the Sevina Park estate, with over Php4.2 billion in reservation sales as of May 2024. The first tower was almost fully sold within less than one year from launch, and the second tower is already 60% sold in terms of reservation sales and letter-of-intent pending conversion to reservation sales.

Its culture of excellence has allowed Arthaland to build a world-class portfolio of projects, which translated into multiple awards and recognition from key organizations. It has been recognized as an EDGE Champion by the International Finance Corporation (IFC) in the recent EDGE Champions Summit Asia 2023. EDGE Champions are companies that collaborate with the IFC to accelerate the adoption of green building options in their respective markets. In August 2023, Arthaland’s P3 billion Tranche 2 ASEAN Green Bonds won the Green Project Deal of the Year award under the Best Deals ASEAN category during the gala night of The Asset Triple A Sustainable Infrastructure Awards. Lastly, the Philippine Rating Services Corp. maintained the credit rating of PRS Aa with Stable Outlook for Arthaland’s Tranche 1 and 2 ASEAN Green Bonds.

“With the success of our past capital raising programs, we are actively pursuing our focused land acquisition strategy to ensure a robust pipeline of projects over the next 10 to 15 years. We will continue to hold ourselves to the highest quality and sustainability standards as we execute our plans for the next stage of our growth,” said Mr. González.

For more information, contact Arthaland at +63917 772 7842 or visit www.arthaland.com.