ABCI rolls out PhP1.5-billion for new Mindanao real estate projects

Jun 23, 2015

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Misamis Oriental to have first condominium project in Initao

 

Publicly listed A Brown Co. Inc. will roll out P1.5-billion in new real estate projects in Mindanao over the next five years, among them, the first-ever high rise condominium in Misamis Oriental.

 

During ABCI’s annual stockholders’ meeting held June 19 at its flagship Xavier Estates project in Cagayan de Oro City, Robertino E. Pizarro, company president, reported a five-year projected total contract price of PhP2.5 billion for ABCI’s upcoming socialized and economic housing projects.

 

Ventura Residences model unit 1 (photo courtesy of ABCI)

Ventura Residences model unit 1 (photo courtesy of ABCI)

In a media statement released for the occasion, Mr. Pizarro said ABCI is shifting its focus to middle income (economic) housing and socialized housing projects to help address the 3-million supply backlog in these sectors. Among these projects are Ventura Residences, St. Therese Subdivision, and Mountain View Homes in Balulang, Cagayan de Oro City.

 

For 2015, ABCI is launching Simple Homes projects: Mountain View Homes (expansion), Adelaida Residences, and Simple Homes developments located in Cagayan de Oro, Butuan City, Bukidnon, Rizal, and Davao City. Additional socialized housing developments in other parts of Mindanao are also being eyed.

 

Architects ' Perspective of  Mt. View Homes (photo courtesy of ABCI)

Architects ‘ Perspective of Mt. View Homes (photo courtesy of ABCI)

For its mixed-use, nature-themed, master-planned integrated communities, ABCI has established industry leadership in Northern Mindanao with Xavier Estates, its flagship property in Cagayan de Oro, the region‘s pioneering high-end residential subdivision. Among the company’s other innovative properties in the high-end sector are Teakwood Hills in Cagayan de Oro, Coral Resort Estates in Initao, Misamis Oriental; Valencia Estates in Bukidnon, West Highlands in Butuan City, and East Cove Village in Rizal.

 

However, another new project which will not fall under the economic and social housing sectors is ABCI’s first ever vertical project, a 36-unit multi-story condominium at its prime Coral Resorts Estate in Initao, Misamis Oriental.

 

Although it is ABCI’s first vertical development project and a distant location from the urban areas of Cagayan de Oro and Iligan, Mr. Pizarro assures it is a market driven initiative.

 

“The project arose from the desire of many of our locators in Xavier Estates to have a second home where they could relax for the weekend, and Coral Resorts just happened to fill that need,” Mr. Pizarro said. “So the market for this project would definitely be Cagayan de Oro, and more specifically, our existing home owners in Xavier Estates.”

 

St. Therese Subdivision (photo courtesy of ABCI)

St. Therese Subdivision (photo courtesy of ABCI)

In addition to the shift to lower-end projects, ABCI Executive Chair Dr. Walter W. Brown also revealed plans to extend the company’s master-planning expertise overseas, upon receiving an invitation from the President of the Autonomous Region of Bougainville to develop projects in the territory. “We are currently studying this project seriously,” said Dr. Brown, who just arrived from a trip to Bougainville this June.


ABCI is a diversified holding company engaged in real estate development, agribusiness (palm oil plantation, milling and refinery), energy generation (coal, diesel, hydro and renewables) and resources (precious metals, oil and gas exploration). The company has primarily focused its business interests in Mindanao, though the power and real estate segments have investments in other regions.

 

The ABCI annual stockholders’ meeting was attended by ABCI stockholders, board directors, business associates, financial partners, and select employees. It was presided by Dr. Brown, Mr. Pizarro and Executive Vice President Roel Z. Castro.

 

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