Arthaland nears deal for two acquisitions

LISTED property developer Arthaland Corp. said it is nearing a deal to acquire two properties for development over a 10 to 15-year period.

“We’ve made significant gains in steps to close and finalize the acquisition of these properties,” Arthaland Executive Vice-President Christopher G. Narciso said during the company’s annual stockholders’ meeting on Friday last week.

“One is a 3.6-hectare property, which we refer to as Project Olive, situated by the entry of one of the most premium central business districts in Metro Manila; another one is a five-hectare property… situated in the heart of a very prime metro city in Southern Philippines,” he added.

Mr. Narciso also said that Arthaland is in talks to acquire more properties across Metro Manila to boost the company’s project pipeline.