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ArthaLand mulls venture into commercial property development means BUSINESS

MANILA, Philippines - The real estate company owned by Jaime Gonzalez plans to go into commercial property development to complement its residential ventures.

Gonzalez, who chairs ArthaLand Corp., said the company is looking at several properties both in and outside Metro Manila.

"Right now, we're in the process of determining which will come first," said Gonzalez.

"The market looks very strong and we're getting the support of many banks. The reaction of the market has been very strong to our project as well as the other project so you just take advantage of the cycle," he said.

The company is building Arya Residences, a two-tower condominium on a 6,357-square meter property along McKinley Parkway in Bonifacio Global City.

ArthaLand also has a 1,585-square meter property across St. Luke's Medical Center and a 2,233-square meter lot in front of Shangri-La Hotel.

The company also has a 35-hectare land in Tagaytay City.

Besides Gonzalez, another key ArthaLand shareholder is the Po family, which has a 33.85 percent stake in the property firm through CPG Holdings.

The Po family owns Century Pacific Group, which manufactures canned fish products bearing the labels Century Tuna, 555 and Blue Bay.