Roxas and Co. Inc. raised around P282 million from the sale of major real estate assets in Batangas.
In a disclosure to the stock exchange, RCI said subsidiary Roxaco Land Corp. sold a 2.8 hectare commercial property within the Nasugbu town proper to the SM Group for P98 million.
RCI, meanwhile, sold a 6.67 hectare beachfront property in Nasugbu, Batangas to Sta. Lucia Land Inc.
It also disposed of a highly sought-after 12.9 hectare eco-tourism property along the Tagaytay-Nasugbu Highway.
The divestments were in line with the group’s efforts to improve its net income and pare down overall debt.