ICCP arranges P1.25-billion financing for Pueblo de Oro

Investment & Capital Corporation of the Philippines (ICCP), one of the Philippines' leading independent licensed investment houses, has arranged a total of P1.25 billion in loan facilities for Pueblo de Oro Development Corporation (PDO), the residential development arm of the ICCP Group.

Pueblo de Oro has signed 7-year term loan agreements worth %u20B1500 million each with the Philippine Bank of Communications (PBCOM) and the Bank of the Philippine Islands (BPI), who also provided a P250-million short-term working capital line.

The proceeds from the loan facilities will finance the expansion plans of Pueblo de Oro’s key projects, including its township and residential developments in Cagayan de Oro as well as Pueblo de Oro Townscapes Malvar, Pueblo de Oro Courtyards Lipa in Batangas, and subdivisions in Pueblo de Oro Pampanga.

“ICCP is proud to support Pueblo de Oro on its mission to develop climate-adapted townships,” said Valentino Bagatsing, Chairman and CEO of ICCP. “These partnerships with PBCOM and BPI strengthen PDO’s commitment to fostering sustainable countryside development.”

For his part, PDO President and Chief Operating Officer Prim Nolido, said, "We are excited to partner with PBCOM and BPI to further our mission of creating high-quality residential communities. This financing will enable us to continue developing exceptional living spaces that meet the needs and aspirations of Filipino families."

The loan agreements underscore Pueblo de Oro's commitment to expanding its residential development portfolio across the Philippines, providing more Filipinos access to well-planned, sustainable homes and communities.