BusinessWorld Online
PH1 secures P1.25-B loan from Chinabank for Taytay project
Megawide Construction Corp.'s property arm, PH1 World Developers, has secured a P1.25-billion loan from China Banking Corp. (Chinabank) for its ongoing condominium project, Modan Lofts Ortigas Hills in Rizal.
This marks the first collaboration between PH1 World Developers and Chinabank, signaling mutual confidence in the real estate prospects of eastern Metro Manila.
PH1 president Gigi Alcantara stated that the loan signifies a vote of confidence in their vision and capacity to deliver quality living spaces.
Despite current market challenges, Chinabank acknowledged the long-term value of the Modan Lofts Ortigas Hills project.
The project, launched in 2022, will feature three mid-rise towers with over 300 residential units each and a total gross floor area of 17,901 square meters.
Modan Lofts Ortigas Hills aims to provide a first-world living experience to mobile professionals, young families, and investors, with unit prices ranging from P5 million to P9 million.
🤖
This story was generated by AI to help you understand the key points. For more detailed coverage, please see the news articles from trusted media outlets below.
News Sources
See how different news organizations are covering this story. Below are the original articles from various Philippine news sources that contributed to this summary.
