Haus Talk, Inc. Acquired 37-Hectare LFM Property in Angono and Teresa, Rizal, for P1 Billion

The Board of Directors of Haus Talk, Inc. (HTI) approved today, September 20, 2024, the acquisition from Liberty Flour Mills, Inc. of 8 contiguous parcels of land in Angono and Teresa, Rizal for a total contract price of P1 billion.

This transaction expands HTI's land portfolio and reinforces its vision of becoming the most valued and recognized property developer that provides "value for money" residential real estate projects by investing in prime land locations.

The property is envisioned to be HTI’s first mixed-use development project in the Rizal area, and is expected to bring in revenues of approximately P9 Billion. Land development for the area is expected to commence by Q4 of year 2025.

The consideration was agreed upon after negotiation between the parties taking into consideration an independent property valuation conducted by the seller.

Payment of earnest money of P10 Million upon signing of the Memorandum of Agreement and five installment payments in a span of 2 years. The installment payments shall be made upon compliance with certain milestones.

For the purchase of the Property, the Parties have set the following conditions:

A. On the part of the Seller:

To deliver the documents customary to this type of transaction, including the owner’s duplicate of Transfer Certificates of Titles, Tax Declarations of Real Property, which conditions must be fulfilled before the schedule of each closing date.

B. On the part of the Buyer:

To secure a standby letter of credit from Security Bank Corporation, China Banking Corporation or other banks acceptable to the seller amounting to P758,224,723.20 to guarantee the payment of the purchase price of the Property valid for 25 months from the First Closing Date as stated on the Memorandum of Agreement.

The property was previously used as a pig farm and currently classified as agricultural. HTI shall be applying for the reclassification of the property to “residential use” or for “ non-agricultural use” before the pertinent local government units and/or the Department of Agrarian Reform, through its provincial or regional offices.

​Haus Talk, Inc. (HTI) was registered with the Securities and Exchange Commission originally as Haus Talk Project Managers, Inc. HTI is a residential real estate developer whose projects in property development are found in Antipolo City, Laguna, Cavite and Metro Manila. The company's primary purpose is to engage in the business of land and housing development and participate in the government's mass housing program. The Company adopted its present name on June 7, 2017.

​Liberty Flour Mills, Inc. (LFM) was incorporated on December 26, 1958 to engage in the business of manufacturing flour and flour-related products.

LFM's products consist mainly of bakery flour products under the brands El Superior, LFM Bakers, Pine Tree, and LFM Soft. The products are exclusively distributed and marketed by Parity Values, Inc.; Trade Demands, Corp.; and Liberty Commodities Corp. LFM sells its products mainly on a wholesale basis principally to members of the baking and food supply industry nationwide. The Company also produces mill feed, a flour by-product used for animal feeds.

LFM currently has two subsidiaries: LFM Properties Corporation (LPC) and Liberty Engineering Corporation (LEC). LPC is engaged in the business of leasing out office and commercial spaces. Meanwhile, LEC is engaged in the sale, lease and purchase of equipment and machinery.