Philippine Billionaire Manuel Villar Turns Memorial Park Developer Into Prime Property Builder [Forbes]
SOCIETE GENL FRNCE S/ADR (SCGLY)
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Source: Forbes
Courtesy of Vista Land Property tycoon Manuel Villar is turning his memorial park developer, Golden MV Holdings , into an upscale property builder with the injection of 400 hectares (4 million square meters) of prime real estate. Golden MV—the Philippines' most valuable listed real estate company with a market value of about 1 trillion pesos ($19 billion)—will then become the main developer of Villar City, a sprawling upscale residential and commercial enclave the tycoon is developing across a 3,500-hectare property development in southern Metro Manila. Under the deal, Golden MV said it will acquire the plots of land for 5.2 billion pesos from Villar's privately held companies. Villar City—which encompasses 15 cities and towns including parts of Cavite province—is envisioned to become a residential and leisure hub with two golf courses, an events and sporting arena, and an integrated entertainment complex. Golden MV is acquiring the plots of land at about 1,300 pesos per squa
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