Property

Greggy Araneta amasses P1.3B land bank in Bulacan, Ilocos in 8 years

Bilyonaryo Greggy Araneta has built a sprawling land bank worth P1.3 billion since his Araneta Properties Inc. started buying up land in Bulacan and Ilocos Norte in 2012.

Araneta, the son-in-law of the late President Ferdinand Marcos, reported that as of December 2019, the Company has already 360 hectares of property. He has paid P1 billion out of the P1.28 billion value of these landholdings.

Araneta is not yet done buying more land as he hopes to seal the purchase of another 84 hectares soon.

The bulk of the properties or 322 hectares worth P1.18 billion are in San Jose Del Monte, Bulacan.

Among the sellers of these properties are BDO Strategic Holdings Inc. (93 hectares), Insular Life Insurance (58 hectares), Don Manuel Corp. (41 hectares), MargaDev’t Corp., (36 hectares), Apena Foods (38 hectares), Pagrel Corp. (34 hectares), Rocha Dev’t Corp. (12 hectares), and Rodolfo Cuenca (5 hectares).

Araneta also acquired 37 hectares of property in Laoag, Ilocos Norte from Almazan (29 hectares), Manuel Bonoan (6 hectares), Emma Almazan (1 hectare), and Hugo Nat D. Juan (1 hectare).

Araneta claimed that with his company’s sprawling area of contiguous lots, he does not see any “competitor/s in the near future within the geographic area for the reason that there are no more such large quantity of land easy to consolidate for commercial, residential and mixed project like Ayala Business District in Makati, Trinoma in Quezon City, Filinvest in Ayala Alabang or Nuvali in Sta. Rosa City.”

In November 2019, Araneta signed a deal with Sta. Lucia Land to develop 300 hectares of his firm’s landholdings in Bulacan as an annex of its existing Colinas Verdes Subdivision Project. Sta. Lucia will get 60 percent of the subdivision’s net saleable area with the balance to be retained by Araneta.

The Bulacan property is surrounded by Angat and La Mesa watersheds. It can be reached through Quirino Highway. In the near future, the project can be accessed through the proposed C-6 (from the Bicutan junction of the South Luzon Tollway to North Luzon Tollway in Marilao, Bulacan)and the proposed North Luzon Expressway East (which will connect C-5 to Nueva Ecija and will run parallel to North Luzon TollWay).

The project will also benefit from the construction of Quezon City LRT (Light Rail Transit) (from Welcome Rotonda through Commonwealth Avenue and its proposed extension via Quirino Highway to Norzagaray).

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.