Headlines Property

Arthur Ty raises P900M from sale of GT Capital’s property to a major developer

Bilyonayo Arthur Ty has generated a major bonanza for his family’s holding company.

READ: Covid-19 hammers Federal Land, profits plunge 77%

GT Capital Holdings revealed that it sold “various lots” with a total area of 15.6 hectares to a “third-party joint developer” on October 14, 2020.

GT Capital sold the land for P1.56 billion or P10,000 per square meter and earned a cool P900 million.

The deal is covered by a confidentiality agreement which explains why GT Capital is sparse with the details.

GT Capital has a property development arm, Federal Land.

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