Pueblo de Oro secures P960-million financing package from Security Bank

PUEBLO DE ORO Development Corporation (PDO), a residential property developer under the ICCP Group, has secured a financing package totaling P960 million from Security Bank Corporation. The financing was arranged by its sister company, Investment & Capital Corporation of the Philippines (ICCP).

The proceeds from the loan and credit facilities will support the expansion of several key Pueblo de Oro projects, including residential developments in Pueblo de Oro Townscapes Malvar and Pueblo de Oro Courtyards Lipa in Batangas, as well as subdivisions in Pueblo de Oro Pampanga.

Pueblo de Oro is one of the country’s fast-growing real estate developers, offering high-quality and affordable housing projects within master-planned communities and townships in emerging growth hubs such as Pampanga and Batangas in Luzon, Cebu in the Visayas, and Cagayan de Oro in Northern Mindanao.

The developer recently launched its Westwoods Heights subdivision in Batangas City and is set to introduce Pueblo de Oro Townhomes Carcar in the southern part of Cebu.

In Cagayan de Oro, Pueblo de Oro is pursuing the expansion of its 400-hectare flagship township in uptown Cagayan de Oro.

"We are grateful to ICCP and Security Bank for their support and belief in our goal of delivering the gold standard in community living, through quality, affordable, and sustainable communities,” said PDO President and Chief Operating Officer Prim Nolido. “These credit facilities will allow us to keep creating innovative and outstanding living spaces that fulfill the desires and needs of Filipino families."

“I take this opportunity to thank both the ICCP Group and Security Bank in making this partnership a reality,” highlighted Security Bank Chairman Atty. Cirilo Noel. “The Bank wanted to be associated with an institution that has the credibility, integrity, and excellence. I wish this partnership would be a long-standing partnership that will be for both our success and benefit, and also really to create economic value to our shareholders, to our community, and also to the country.”

“ICCP is proud to support Pueblo de Oro in its mission to create high-quality, climate-adapted residential communities,” said Valentino Bagatsing, Chairman and CEO of ICCP, one of the Philippines' leading independent licensed investment houses. “This partnership with Security Bank reflects the commitment of the ICCP Group to fostering sustainable urban development.”

The P960 million is part of a P3.5 billion package granted by Security Bank to the ICCP Group, with P2.56 billion credit facilities also awarded to Science Park of the Philippines, Inc. (SPPI), regarded as one of the pioneers and leaders in private industrial estate development in the country.