Federal Land focuses on bigger Laguna projects after exit from CCPC

The Grand Midori Ortigas — FEDERALLAND.PH — The Grand Midori Ortigas

FEDERAL LAND, INC. said it would concentrate on bigger developments in Laguna province after the divestment of Crown Central Properties Corp. (CCPC).

“The master-planned community in Biсan developed by CCPC, our joint venture with Crown Equities, is almost fully sold out and represents a small, legacy portion of our total development portfolio,” Federal Land President Jose Mari H. Banzon said in a Viber message on Monday.

“We decided to divest from CCPC and focus our resources on our more recent and larger developments in Laguna,” he added.

In October, Mr. Banzon said the company had completed its 2025 project launches and was preparing several residential developments for 2026, including a 21-hectare horizontal project in Biсan, Laguna, as a continuation of its Meadowcrest community.

He said the Biсan project is among the company’s bigger developments.

“It includes the sequel to Hartwood, a village in Meadowcrest. Federal Land still has a significant land bank in Biсan and Sta. Rosa,” he added.

Last month, Federal Land and unit Horizon Land Property Development Corp. sold their combined 52% stake in Crown Central Properties to Crown Equities, Inc. for P73.48 million.

Crown Equities acquired 62.5 million common shares from Federal Land valued at P68.12 million, and 5 million shares from Horizon Land worth P5.37 million. The board approved the acquisition on Dec. 16, and the deal remains subject to closing conditions.

After the transaction, Crown Equities now owns 100% of Crown Central Properties, which develops residential and commercial projects.

Crown Central was originally established in 1996 as a joint venture between Crown Equities and Solid Share Holdings — now Federal Land — to develop Palma Real Residential Estates in Biсan, Laguna.

In 2003, it entered a memorandum of agreement with Sta. Lucia Realty and Development, under which Crown Central contributed land and initial improvements while Sta. Lucia completed the subdivision.

Federal Land is a unit of GT Capital Holdings, Inc., a diversified group with interests in automotive, banking and real estate.

The article was originally published in Business World and written by Alexandria Grace C. Magno.

If you like this article, share it on social media by clicking any of the icons below.