John Gokongwei sets up P1B property firm
Robinsons Land Corp. has set up a new company that will undertake future real estate ventures.
The new firm, Bonifacio Property Ventures Inc., has an initial authorized capital of P1 billion, of which P500 million had been subscribed and paid up. The shares carry a par value of P1 apiece.
BPV’s registration as a corporation has already been approved by the Securities and Exchange Commission.
RLC and high-end developer Shang Properties Inc. are building a P10 billion luxury residential complex in the booming Bonifacio Global City.
Situated on a 9,118-square meter property at McKinley Parkway corner 5th Ave., the joint venture may also include the development of serviced apartments and commercial spaces.