ALCO / Arthaland

[drbubb]

ALCO / Arthaland

ALCO (0.42) vs. / TLT ($96.52)= 0.435%; RCR (5.20, 5.39%), Mreit (13.08, 13.6%) @1.15.24 UPDATED

12.15.23: A-(0.44) / TLT ($99.15)= 0.444%; RCR (4.70, 4.74%), Mreit ( 12.12, 12.2%)  ...  10d: 

ALCO: 10yr: 5yr: Ytd: P0.435,  ( range: 0.35 to 0.62 ) PER: 3.53, Yield: 2.76%, BV: 1.90, 23%

===

 

[drbubb]

ArthaLand has two Offices Projects, Savya, at ARCA South

> MAP: https://www.therealty.ph/savya-financial-center/savya-arca-south-map/

> Arca South: https://en.wikipedia.org/wiki/Arca_South

REAL ESTATE FOR SALE - June 2020 NOTE... On ARCA South Purchase

This account consists of:           - Sep. 2019 -:   - Dec. 2018 -:   - Sep. 2018 -:
Raw land                                      2,353,969,300: 1,656,023,008: 1,494,556,687:
Assets under construction         2,230,674,193 : 1,420,142,094:  1,463,635,371:
Condos units for development      774,941,279:   336,548,323:            -
================ Totals :   5,359,584,772: 3,412,713,425: 2,958,192,058:

Raw Land
Raw land pertains to parcels of land acquired by the Group for future development projects that are intended for sale. Raw land also includes the property from the recent merger with Arcosouth located in Arca South, Taguig City, on which SLDC launched the development of Savya Financial Center (see Notes 1 and 3). This property has a carrying amount of P=491.0 million as at September 30, 2019.

In 2018, the Group transferred Cazneau’s raw land and Courtyard Hall from “Real estate for sale” account to “Investment properties” account aggregating P=216.9 million because the Group has yet to determine the strategic use of the raw land while the Courtyard Hall is already used for leasing operations (see Note 1). Accordingly, raw land and Courtyard Hall were recognized as investment properties at their fair values amounting to P=235.8 million and P=165.3 million, respectively, as at September 30, 2019 (see Note 9). In August 2019, Bhavana purchased a parcel of land in Cebu with a total area of two thousand two hundred forty-five (2,245) square meters and a carrying amount of P=697.9 million as at September 30, 2019.

Assets under Construction Assets under construction consist of land and development costs of ongoing real estate projects of the Group. As at September 30, 2019, this account includes the land and development costs of Cebu Exchange and Sevina Park (see Note 1). Condominium Units for Development Condominium units for development pertain to condominium units acquired in Legaspi Village, Makati City. These units are intended for future development and sale.

9.INVESTMENT PROPERTIES

This account consists of: September 2019 December 2018 September 2018 ACPT 4,426,263,726 3,438,420,267 5,024,004,327 Arya Residences: Commercial units 1,194,590,704 1,194,379,000 1,110,864,000 Parking slots 184,984,000 184,984,000 177,857,851 Raw Land: UPHI’s property 597,183,629 577,277,508 564,007,279 Batangas and Tagaytay property 146,295,713 141,898,400 124,165,200 Cazneau’s property 235,750,762 211,713,162 184,269,100 Courtyard Hall 165,252,483 152,842,238 -

> source: https://www.pds.com.ph/wp-content/uploads/2020/02/22-ALCO-Green-Bonds-Final-Prospectus-with-Financials.pdf

[webmaster]

ALCO (0.42) vs. / TLT ($96.52)= 0.435%; RCR (5.20, 5.39%), Mreit (13.08, 13.6%) @1.15.24 UPDATED

12.15.23: A-(0.44) / TLT ($99.15)= 0.444%; RCR (4.70, 4.74%), Mreit ( 12.12, 12.2%)

ALCO: 10yr: 5yr: Ytd: P0.44,  ( range: 0.35 to 0.62 ) PER: 3.57, Yield: 2.73%, BV: 1.90, 23.2%

===

[webmaster]

Relatively weak, relatively cheap

ALCO (0.420) vs.  LAND (0.77, 183%) / PSEI (6,677) = 0.62% /100

[webmaster]

ELURIA, Luxury Living on RADA St. from Arthaland (60% owner, w/ SG partner) > see RADA chat

ELURIA by Arthaland [32F | res   /  7 months ago
ELURIA.   LEED, Multi-family residential.  157,756    
"I was told this project will be ultra luxury; you cant just buy a unit here even if you have the means. The Arthaland owners/directors will be screening potential buyers."         
> #2:  "The person I spoke to said that Arthaland views this as a more premium project than Arya. Of course, right now this might just be a marketing ploy by the developer and if sales dont pick up as planned, they might decide to loosen their restrictions.
I think there has been a precedent of such practice with other condo developers, particularly Discovery Primea (from the top of my head)"            
>#3:  5 mo ago.   How can this project be tagged ultra luxury?? by location itself it doesn't even have a good view and spacing like those in rockwell projects.. its not even facing a major boulevard or a park.    >#4:  Probably they will make up for it in exclusivity (large unit sizes and low number of units per floor), high quality finishes inside and out, and the aforementioned concierge service. Its close enough to Legaspi Park but the issue is how close it is to the neighboring tower on the side /  My arya agent, showed the project to me. 2 units per floor, luxury finish with a dedicated butler.

  : "white glove service"

> https://www.skyscrapercity.com/threads/eluria-by-arthaland-32f-res-pro.2303132/

Partnership: Executed JV Agreements with Arch Capital of Hong Kong for Lucima and Eluria

[webmaster]

Though Eluria just broke ground in November 2022, eleven of its 37 units have already been sold, including the sole Penthouse Suite.

The project is expected to be completed in the second quarter of 2026.  (11 / 37= 30% SOLD already)

ELURIA : US$2.6M for 288 sq:  xP56 = P145.6M / ( 3,100 sqft / 10.76 = 288 sqm) = P505 per sq.m.

“The main features of Eluria are, one, the hospitality directors and their personalized level of service, and two, the sustainability,” said Oliver L. Chan, Arthaland’s senior vice-president for sales, leasing, and marketing, at a media briefing on May 30.  Eluria’s hospitality directors will train for ten weeks with the International Butler Academy in the Netherlands, famous for training butlers for royal families and high net-worth individuals.

Arthaland to develop P6-B luxury residence in Makati  

ARTHALAND Corp. is developing a 31-storey luxury condominium in Makati City, which is expected to generate as much as P6 billion in sales.

Located along Rada Street in Legazpi Village, Eluria features 37 limited edition units designed by Sydney-based architecture and interior design firm FMB Architects.  Eluria’s hospitality directors will train for ten weeks with the International Butler Academy in the Netherlands, famous for training butlers for royal families and high net-worth individuals.

Other amenities at Eluria will include a heated saltwater leisure and lap pool, an indoor children’s playroom, a function hall, a potager garden at the roof deck, and chauffeur shuttle services to select nearby destinations. The building will have eight parking levels, with each unit allowed three slots.  

> https://www.bworldonline.com/property/2023/06/06/526747/arthaland-to-develop-p6-b-luxury-residence-in-makati/

[webmaster]

ELURIA : “Arthaland has a 60% interest in the project while ARCH Capital (or its client, NARRA?) has a 40% stake,” 

Sheryll P. Verano, Arthaland’s senior vice-president for strategic funding and investments, said the project is being built in partnership with real estate private equity investment company ARCH Capital ??  ( ARCH buying for a client? )

Upscale property developer Arthaland Corp. has raised P516 million from the sale of a 40-percent stake in two real estate subsidiaries to a unit of international real estate fund and asset manager Arch Capital Management Co. Ltd.

Arthaland has also consolidated its interest in Cebu Lavana Land Corp. (CLLC), a subsidiary that owns two parcels of adjacent land in Cebu City where office property complex Cebu Exchange was built on.

Arthaland sold a 40-percent stake in Bhavana Properties Inc. and Bhavya Properties Inc. to Singapore-based Narra Investment Properties Pte. Ltd., which is managed by Arch Capital.

Read more: https://business.inquirer.net/337574/arthaland-sells-40-stake-in-2-real-estate-subsidiaries#ixzz8OrGbk16S
 

Oct 27, 2023 — Arthaland owns 60% of Bhavya Properties while the remaining 40% is owned by Singapore-based Narra Investment Properties Pte. Ltd. ...

 1 / In a series of deals, Arthaland, led by the Po family, sold 40 percent of its shareholdings in Bhavya Properties Inc. and Bhavana Properties Inc. to Narra Investment Properties Pte. Ltd.   Its deal with Bhavya involves the sale of its 10 million common shares at P1 apiece and, also, Arthaland’s shareholder advances worth P258 million, which include the accrued interest on principal balance.

Bhavya was incorporated on July 19, 2019, with the primary purpose of engaging in the realty development business. This is the investment vehicle used by the corporation to acquire a 916-square meter property in Legazpi Village in Makati, which will be the site of a low-density, multi-certified, ultra-luxury development. The company expects to formally launch this project within the first quarter next year.

Narra is a private limited liability company based in Singapore, and managed by Arch Capital Management Company Ltd, a Hong Kong-based private equity fund set up to pursue investments in Asian property markets, which are in strong growth phases such as China, India and Thailand.

Narra is a private limited liability company based in Singapore, and managed by Arch Capital Management Company Ltd, a Hong Kong-based private equity fund set up to pursue investments in Asian property markets, which are in strong growth phases such as China, India and Thailand.

 2 / LISTED property developer Arthaland Corp. is set to acquire shares in Bhavya Properties, Inc. to increase the latter’s working capital for the completion of a residential condominium project in Makati City.   In a regulatory filing on Thursday, Arthaland said it would subscribe to Bhavya Properties’ preferred shares amounting to 663,000, which will come from its unissued authorized capital stock.   

Arthaland owns 60% of Bhavya Properties while the remaining 40% is owned by Singapore-based Narra Investment Properties Pte. Ltd*.   The subscription, which is set on Nov. 10, is priced at P100 per share totaling P66.30 million. Bhavya Properties is currently developing the Eluria residential condo project in Legaspi Village, Makati City.

“Bhavya Properties will leverage on the additional equity to fund Eluria’s working capital requirements until its scheduled project completion in 2025, while ensuring compliance with all its financial covenants. Narra will also subscribe to Bhavya Properties’ preferred shares to the extent of 442,000,” Arthaland said.   

( Initially,  I confused Narra Properties, with another NARRA,  a Venture Capital firm, in which Ayala Corp., and PJ Lhulier, among others, hold a stake )

*NARRA PROPERTIES INVESTMENT PTE. LTD. is ACRA -registered entity that has been operating for 2 years in Singapore since its incorporation in 2021.