Home Editor's Picks A Brown eyes master planned community in Tanay

A Brown eyes master planned community in Tanay

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A BROWN Co., Inc. is looking at developing a master-planned community in Tanay, Rizal province, which will be home to a residential estate, a themed restaurant, a hotel, and a condominium.

The company aims to recreate the concept it had with its mixed-use community in Northern Mindanao.

“Our focus has always been on properties that underscore healthy, environment-friendly and low dense communities with a focus on [the] city, mountainside, agricultural, golf and sea resort, and lifestyle developments,” A Brown President and Chief Executive Officer Robertino E. Pizarro said in a statement on Tuesday.

Its Rizal property is said to have a view of Laguna Lake and the Sierra Madre mountain range.

A Brown said there will also be 15-hectare property in the area of its Rizal project that will cater to economic and socialized housing, featuring commercial spaces.

“We look to continue to deliver excellent value for money developments alongside our core competence of building quality homes and pioneering real estate concepts,” Mr. Pizarro said.

The community will be one of the projects that will be funded by the sale of its additional preferred shares.

A Brown is offering 10 million preferred shares for P100 apiece, with an overallotment option of up to five million preferred shares. The company may raise up to P1.5 billion, which will be used for the development of its projects, land banking activities, and for the funding requirements of its wholly owned subsidiary, Irradiation Solutions, Inc.

Despite the pandemic, A Brown said it logged a record P1.5 billion in property reservation sales in 2020, up from the P1 billion logged in the previous year.

“As we venture outside Mindanao, we will continue to pursue real estate products that are built for the long term — providing security, safety, healthy environments to create happy communities,” said Mr. Pizarro.

Shares of A Brown at the stock market inched up by 1.11% or one centavo on Tuesday, closing at 91 centavos each. — Keren Concepcion G. Valmonte

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