A property developer’s presence in a certain locale can be quite significant. In most cases, such massive property projects can breathe new life into these towns, municipalities and even cities, generating fresh jobs and a new source of income for the local government. New projects can also help uplift the quality of lives of the residents, further refresh the landscape, ..
MASS HOUSING developer 8990 Holdings, Inc. said it has signed a deal to acquire a 72.83% stake in Genvi Development Corp., the company behind the integrated community Monterrazas de Cebu in Cebu City. In a disclosure to the stock exchange on Tuesday, the listed firm said its subsidiary 8990 Housing Development Corp. (8990 HDC) inked a subscription agreement for 2,913,128 common shares out of the existing but unissued capital of Genvi at P100 each or a total of P219.31 million. Once the deal is completed, 8990 HDC will own around 72.83% of Genvi’s total issued and outstanding capital stock. The rest will remain with Genvi’s current shareholders.
From building lakeside communities to creating high-rises tailor-made for university students, property developers have gotten more innovative in enhancing their various residential projects. Here’s a real estate player that, aside from giving Filipinos a renewed hope in realizing that dream of owning a decent, quality home, is also enabling the community to become a better version of itself. Building quality—and ..