Roxas Group sells Batangas properties to SM, Sta Lucia

Roxas and Co. Inc. raised around P282 million from the sale of major real estate assets in Batangas.

In a disclosure to the stock exchange, RCI said subsidiary Roxaco Land Corp. sold a 2.8 hectare commercial property within the Nasugbu town proper to the SM Group for P98 million.

RCI, meanwhile, sold a 6.67 hectare beachfront property in Nasugbu, Batangas to Sta. Lucia Land Inc.

It also disposed of a highly sought-after 12.9 hectare eco-tourism property along the Tagaytay-Nasugbu Highway.

The divestments were in line with the group’s efforts to improve its net income and pare down overall debt.

Andrew Tan brings Belmont hotel to Cebu

Bilyonaryo Andrew Tan’s flagship property firm Megaworld is opening a new Belmont Hotel within the 30-hectare Mactan Newtown in Lapu-Lapu City, Cebu by the fourth quarter this year, further strengthening its leadership position in the hospitality space.