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.
