MANILA, March 17 (PNA) — Boutique property developer ArthaLand Corp. (ALCO) on Monday said its revenues from real estate sales grew by whopping 60 percent, driven mainly by the sustained sales take‐up.
In a statement to the Philippine Stock Exchange (PSE), ALCO said its profit reached P2.33 billion from P1.44 billion in 2012.
It also attributed higher earnings to the completion of Arya Residence’s Tower 1 and on‐schedule construction of the project’s second tower.
“ArthaLand has benefited from the very vibrant economic environment of 2013 that encouraged more investors to put their stake in the property sector,” said Angie de Villa– Lacson, the company’s president and chief executive officer.
Arya Residences is a two‐tower development rising in Bonifacio Global City.
Units in the first tower will be turned‐over beginning the fourth week of March while the second tower will begin turn‐over by the first quarter of 2016. (PNA)