Starting the fourth quarter of 2025, the property will be developed into HTI’s first mixed-use development in the area, projected to generate P9 billion in revenue, the company said in a stock exchange filing.
“This transaction expands HTI’s land portfolio and reinforces its vision of becoming the most valued and recognized property developer that provides ‘value for money’ residential real estate projects by investing in prime land locations,” the builder said on Friday.
Liberty Flour, which is also listed on the Philippine Stock Exchange, said proceeds will be used to invest in new food-related businesses, a separate stock exchange filing showed.
The purchase involves an earnest payment of P10 million and five installments over two years, contingent on certain milestones. HTI must provide a P758-million standby letter of credit from an approved bank, valid for 25 months, to guarantee payment.
Key conditions include the seller delivering essential documents like titles and tax declarations, HTI said.
