DEL ROSARIO-LED Comelomete PHINMA Corp. PHINM PHINM P300 million Corp. Bacolod City.
“The additional investment will be fully allocated to the development of the Saludad township project in Bacolod and will enable PHINMA Properties to take advantage of the favorable market momentum for the project,” PHINMA said in a regulatory filing on Thursday.
PHINMA Properties is a 71.68%-owned subsidiary of PHINMA. The move was approved by the conglomerate’s executive committee on July 14.
The P12-billion Saludad township was launched by PHINMA Properties in October. It is a master-planned ecosystem that will integrate residential enclaves, commercial hubs, educational institutions, hospitality components, and retail areas.
The township will be developed by PHINMA Properties in partnership with JEPP Real Estate Co., with the design led by Royal Pineda+ Architecture • Design.
In April, PHINMA Properties broke ground on the Maayo Terraces mid-rise residential condominium project within the Saludad township.
Maayo Terraces will consist of 11 towers totaling 2,922 units. It will feature studio, one-bedroom, and one-bedroom loft units.
The first tower is set to be completed by 2027, while the second tower is expected to be finished by 2029.
PHINMA shares fell by 0.11% or two centavos to P17.88 each on Thursday. – Revin Mikhael D. Ochave
