MANILA, Philippines – The Securities and Exchange Commission has approved the plan of City & Land Developer Inc. to issue P300 million worth of commercial papers.
According to documents from the SEC, net proceeds from the offering would be used for project related costs (P74.5 million), payment of maturing loans (P23.5 million) and interest expense at (P1.2 million).
Early this year, Cityland launched two new residential projects – the Grand Central Residences and Pines Peak Tower 1, which are both located in Mandaluyong City.
Grand Central Residences, located along EDSA corner Sultan St., Bgy. Highway Hills, is a 40-story commercial, office and residential condominium while Pines Peak Tower 1, is a 27-story residential condominium is located along Union corner Pines Streets.
Amenities include a swimming pool, gym, multi-purpose function room with movable playset, viewing deck and 24-hour association security.
These condominium projects will be ideal for the fast-paced Filipino families who enjoy comfortable but affordable way of living.
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Economically-designed residential units in Studio, one and two-bedroom types are now available in friendly and flexible payment scheme, City & Land said.
Cityland Development was formerly known as Statehouse Land Development Corp. it has two subsidiaries, namely City & Land Developers Inc. and Cityplans.
Among Cityland Development projects include Pines Peak Tower I, Grand Central Residences I, the Makati Executive Towers I, II and III, Corinthian Executive Regency, Manila Executive Regency and Rada Regency.
