In a regulatory filing, Arthaland said its board approved a plan to issue up to six million Series D preferred shares.
No other details were given by Arthaland.
The company remains optimistic about the sector as it plans to roll out more projects despite the challenges posed by the pandemic.
Arthaland recently launched Lucima, a 37-storey residential development in the Cebu Business park which is intended to fortify its position in Visayas and Mindanao.
Lucima, targeted for completion in the third quarter of 2025, will offer 263 residential units.
Another project to be rolled out this year is a sustainable low-density ultra-luxury residential tower in Legazpi Village in Makati City. This will comprise 37 limited edition designer residences.