REPUBLIC HC's subsidiary plans to purchase Philippine property for 21.418 million pesos
REPUBLIC HC announced that its wholly-owned subsidiary Republic Resources Corporation has signed an agreement to purchase a property located in Makati City, Philippines, for PHP 21.418 million from Alveo Land Corporation. The property, which is approximately 80 square meters, is under construction and is planned to be used as the group's office. The property is situated in a commercial center, has long-term investment potential, and the purchase cost is below market price, which is expected to provide financial stability and capital appreciation opportunities
According to the announcement from REPUBLIC HC (08357), on March 26, 2025, the buyer (the company's indirect wholly-owned subsidiary Republic Resources Corporation) entered into a sales agreement with the seller Alveo Land Corporation, under which the seller agrees to sell and the buyer agrees to purchase the property for a price of PHP 21.418 million.
The property is located at Unit 1605, The Gentry Corporate Plaza, 130 Valero St. Salcedo Village, Makati City, with a saleable area of approximately 80 square meters. As of the date of this announcement, the property is currently under construction and will be developed into a mixed-use project consisting of a single building for office and other purposes, with multi-level parking to serve the building's residents and the public. The seller is required to complete the property in all respects according to the architectural plans by April 2025, but may grant extensions in accordance with the terms of the sales agreement.
The property is intended to be used as the group's office. It is located in the prime business district of Manila, offering excellent long-term investment potential. The property has freehold ownership, providing additional security and ownership benefits. Furthermore, the group has negotiated an attractive price for the property, which is significantly discounted compared to the current market price. Additionally, considering the rising rental costs in the area, purchasing the property is more economical in the long term than renting, while also providing us with financial stability and capital appreciation potential
