November 29, 2024 | 12:00am
MANILA, Philippines — Tycoon Manuel Villar Jr.’s Golden MV Holdings Inc. has changed its corporate name to Villar Land Holdings Corp. to align with the company’s recent acquisitions.
In a disclosure to the Philippine Stock Exchange, the company’s change in its corporate name was approved by its board of directors in a special meeting on Nov. 27.
It said the amendment was made to “align with the recent developments in the company specifically with the acquisition of companies owning land in Villar City.”
The company said the change in its corporate name will result in gaining further flexibility in undertaking the business expansion.
In effect, the company is also changing its stock symbol from HVN to VLC.
Last month, Golden MV Holdings announced the P5.2 billion acquisition of the three companies, which own an aggregate 396.88 hectares of prime land in 3,500-hectare Villar City that spans across Metro Manila and portions of Cavite.
The company said its board approved the acquisition of substantially all the issued and outstanding capital stock of Althorp Land Holdings Inc., Chalgrove Properties Inc. and Los Valores Corp. from Fine Properties Inc. and Hollinger Holdings Corp.
The three firms are also owned and controlled by Villar.
“Golden MV’s acquisition of approximately 400 hectares of land in Villar City further strengthens its asset base, positioning the company to play a central role in the development of this transformative project,” the company said.
Launched in August 2023, Villar City is a sprawling integrated development spanning across 15 cities and municipalities.
The emerging “megalopolis” is as a convergence of economic, lifestyle, cultural and leisure activities, with the aim of redefining modern living and shaping the future of the region.
Close to 900 hectares of the 3,500 hectares in Villar City have been activated or developed by Vista Land at present. These developed areas are home to neighborhoods, shopping complexes and offices.
While Golden MV focuses on the strategic development of Villar City, Vista Land & Lifescapes, Inc. will continue to develop its own landbank, through Vista Estate, across the country.
Both entities will operate complementary development strategies, with each contributing to the Villar Group’s overall vision for sustainable and inclusive urban development.
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