Security Bank Corp. provided a P2.560-billion loan facility for the industrial park developer — Science Park of the Philippines, Inc. (SPPI), and P960-million for the residential and mixed-use property developer — Pueblo de Oro Development Corp. (PDO). The financial resources will be utilized to support SPPI’s and PDO’s new and expansion initiatives — both entities being part of the ICCP Group. This Loan Agreement marks the commencement of a robust collaboration between Security Bank Corp. and the ICCP Group of Companies, founded on shared values and objectives.
The financial arrangements were orchestrated by Investment & Capital Corporation of the Philippines (ICCP), recognized as one of the foremost independent investment firms in the nation.
SPPI is esteemed as one of the trailblazers and frontrunners in private industrial estate development across the nation, with almost 1,500 hectares of industrial lands developed and in progress.
SPPI’s industrial parks are strategically positioned in Laguna (Cabuyao and Calamba), Batangas (Santo Tomas and Malvar), Lapu-Lapu City, and Hermosa, Bataan. Future industrial estate sites include San Jose, Batangas, and Tarlac City. SPPI is also collaborating with the Bases Conversion and Development Authority (BCDA) to establish a 100-hectare industrial park in New Clark City, Tarlac.
Pueblo de Oro Development Corp., one of the promising and rapidly growing real estate developers in the nation, continues to create and provide master-planned, high-quality residential and mixed-use projects in urbanized areas and emerging growth centers like Batangas, Pampanga, and Lapu-Lapu City. PDO’s 400-hectare flagship township in Cagayan de Oro (CDO) remains dedicated to developing award-winning sustainable projects, with two major developments scheduled for launch in the next two years. New project locations for PDO include Lipa City; Ibaan in Batangas; and Carcar in Cebu.
“ICCP is honored to assist Pueblo de Oro and SPPI in advancing their respective goals of responsible, climate-resilient township & industrial estate developments,” stated Valentino S. Bagatsing, Chairman and CEO of ICCP.
“I take this moment to express gratitude to both the ICCP Group and Security Bank for making this collaboration possible,” emphasized Security Bank Chairman Atty. Cirilo Noel. “The Bank sought to align with an institution that exhibits credibility, integrity, and excellence. I hope this alliance becomes a long-lasting partnership that brings mutual success and benefits, fostering economic value for our shareholders, our community, and the nation.”
Security Bank’s financing to Science Park of the Philippines and Pueblo de Oro Development Corp. is in accordance with the Bank’s mission to enhance lives, empower enterprises, and build sustainable communities. The Bank aims to expand this partnership through a diverse approach across all financial services, including loans, deposits, and cash management solutions.
In his remarks, ICCP Group Chairman Guillermo Luchangco shared his appreciation for Security Bank’s backing as SPPI and PDO embark on their expansion in the industrial estate and residential and mixed-use development sectors. “In our Group, we prioritize integrity, ethics, and quality. These are the three foundational pillars we stand upon, and Security Bank is an ideal banking partner for us.”
Other Security Bank officials, including Commercial Banking Group Head Jorge Lindley Ong, NCR3 Central Business District Region Head Erika Sykat, and NCR 3 Central Business District Team Head Mary Ann Salazar, witnessed the signing ceremony that took place on February 10.
Spotlight is BusinessWorld’s sponsored segment that allows advertisers to amplify their brand and engage with BusinessWorld’s audience by publishing their narratives on the BusinessWorld website. For more information, send an email to online@bworldonline.com.
Join us on Viber at https://bit.ly/3hv6bLA for more updates and subscribe to BusinessWorld’s publications to access exclusive content through www.bworld-x.com.
