Security Bank Corp. granted a P2.560-billion credit support 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 loan proceeds will be used to fund the new and expansion projects of SPPI and PDO — both member companies of the ICCP Group. The Loan Agreement signifies the start of a strong partnership between Security Bank Corp. and the ICCP Group of Companies built upon common values and goals.
The credit facilities were arranged by Investment & Capital Corporation of the Philippines (ICCP), one of the country’s leading independent investment houses.
SPPI is highly regarded as one of the pioneers and leaders in private industrial estate development in the country, with nearly 1,500 hectares of industrial estates developed and under development.
SPPI’s industrial parks are strategically located in Laguna (Cabuyao and Calamba), Batangas (Santo Tomas and Malvar), Lapu-Lapu City and Hermosa, Bataan. Upcoming industrial estate locations are San Jose, Batangas and Tarlac City. SPPI is also partnering with the Bases Conversion and Development Authority (BCDA) to develop a 100-hectare industrial park in New Clark City, Tarlac.
Pueblo de Oro Development Corp., among the promising and fast-growing real estate developers in the country, continues to develop and offer master-planned and best-in-class residential and mixed-use projects in urbanized locations and emerging growth hubs such as Batangas, Pampanga and Lapu-Lapu City. PDO’s 400-ha flagship township in Cagayan de Oro (CDO) remains committed to developing award-winning sustainable projects with two major developments set to launch in the next two years. Among PDO’s new project locations are Lipa City; Ibaan in Batangas; and Carcar in Cebu.
“ICCP is proud to support Pueblo de Oro and SPPI in furthering their respective missions of responsible, climate-adapted township & industrial estate developments,” said Valentino S. Bagatsing, Chairman and CEO of ICCP.
“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.”
Security Bank’s loans to Science Park of the Philippines and Pueblo de Oro Development Corp. align with the Bank’s mission to enrich lives, empower businesses, and build communities sustainably. The Bank is looking to build on the partnership with a multi-faceted approach across all financial services, including loans, deposits, and cash management solutions.
For his part, ICCP Group Chairman Guillermo Luchangco expressed his gratitude for the Security Bank support as SPPI and PDO embark on their expansion in the industrial estate and residential and mixed-use property development businesses. “In our Group, we emphasize integrity, ethics, and quality. These are the three pillars that we are known for, and Security Bank is a perfect 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 held last Feb. 10.
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