A Brown Co Inc. (ABC) said Tuesday it will sign a P2.5-billion joint venture with the Misamis Oriental provincial government for the development of a mixed-use estate in Mindanao.
The joint venture covers the development of a portion of Misamis Oriental Capitol Compound into a mixed-use complex with office, commercial, dormitory and a public park, ABC said in a disclosure to the stock exchange.
ABC said its board authorized president and chief executive Robertino Pizarro to enter into a joint venture agreement (JVA) with the provincial government of Misamis Oriental.
“The project is to be developed in four parts with total investment committed by the corporation of P2.5 billion,” ABC said.
The first phase of the project will include the development and construction of office spaces, a commercial/shopping center, a park and parking facilities, while phase two will include the development and construction of a multilevel mixed-use building with a dormitory.
The Mindanao-based firm is primarily engaged in the business of horizontal real estate development that range from high-end and middle-income residential developments to economic and socialized housing segments.
Its real estate developments are focused on the Northern Mindanao region. Among its township developments are the Mountain Pines Farm Estates in Bukidnon, a 280-hectare project with plans for an 18-hole golf course underway, and the 300-hectare Epic Mountain Estate in Tanay, Rizal.
It is also poised to launch vertical residences such as Coral Bay Suites’ The Royale and The Navy Towers in Misamis Oriental and Highlands Fairway Suites in Butuan.
The company, through its subsidiaries, also has investments in power generation through affiliates Palm Concepcion Power Corp. and Peakpower Energy Inc.
