Arthaland Corporation Acquires Stakes in Bhavana Properties, Inc. for P27 Million

Arthaland Corporation acquired 270,000 preferred shares of Bhavana Properties, Inc. (Bhavana) which have a par value of P1.00 per share, at the subscription price of P100.00 per share, or the total amount of P27,000,000.00.

These shares shall be issued from Bhavana’s authorized capital stock upon full payment of the subscription price on 13 December 2024.

Bhavana will leverage on the additional equity to fund its working capital requirements while ensuring compliance with all its financial covenants.

The terms and conditions of the transaction:

Number of shares to be acquired or disposed: 270,000
Percentage to the total outstanding shares of the company subject of the transaction: 1.08%
Price per share: P100.00

Bhavana is a majority-owned (60% owned) subsidiary of the Arthaland Corporation which is presently developing Lucima, the first and only premiere, multi-certified, sustainable high-rise development located in Cebu Business Park at the Corner of Samar Loop Road and Ayala, Hipodromo, Cebu City.
 
Arthaland Corporation is the only real estate developer in the Philippines with a residential and commercial portfolio 100% certified as sustainable by local and global organizations. It has made its mark in the Philippine real estate industry by pioneering the development and management of exceptional best-in-class properties that adhere to international and local standards.