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SUNTRUST Properties Inc., a unit of Andrew Tan's listed real estate developer, announced Tuesday that it has purchased Stateland Inc., a 42-year-old real estate company known for building affordable homes and affordable housing. in the southern part of Luzon The company said that this would allow the Tan real estate company to expand its gross land portfolio by 150 additional hectares and to own some allied and related properties, in addition to the existing Stateland developments distributed on more than 200 hectares. to further extend our developments in the region of Calabarzon [Cavite, Laguna, Batangas, Rizal and Quezon] where growth prospects are great. The existing properties of Stateland in the neighboring provinces of Cavite and Laguna are impressive and we are more than excited for the opportunities to develop them, "said Harrison Paltongan, president of Suntrust
.] Paltongan will also be the new president of Stateland, a company well-known for developing well-planned and flood-free communities, their latest project, which is also their flagship community, is Washington Place along the Aguinaldo road in Dasmariñas, Cavite, which has about 1,700 modern homes and modern in a planned 40-hectare community.
"The operation does not result in a significant lessening of competition in the relevant market, given the parties' sufficient post-transaction competitive constraints to the others. parties to the deal "to approve the deal when Suntrust acquired 96.87% of Stateland," he said.
Stateland is also a builder of high-end pocket townhouses in the metropolitan area of Manila such as Royal Circle townhouses in the city of Parañaque; Royal Garden Townhomes in Malate, Manila; Hillcrest Townhomes in Quezon City; Over the last forty years, Stateland has also built residential and office condominiums in Makati, Quezon City, San Juan, Mandaluyong and Binondo, in the state of Manila
. Industrial and agricultural developments in Bulacan, Cavite and Pasig City
Stateland is also known as one of the most active participants in the government's shelter programs, pioneering in areas of potential growth and conducive to economic development.
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