In the photo during the signing ceremony are (from left) Security Bank EVP Wholesale Banking Segment John Cary Ong, Security Bank director Maria Cristina Tingson, Security Bank president and CEO Sanjiv Vohra, Security Bank chairman Atty. Cirilo Noel, ICCP Group chairman Guillermo Luchangco, Science Park of the Philippines president & CEO Richard Osmond, ICCP chairman & CEO Valentino Bagatsing, Science Park of the Philippines Treasurer Bethilda Castillo.
Security Bank Corporation granted P2.560-B credit support for the industrial park developer Science Park of the Philippines, Inc. and P960-M for the residential and mixed-use property developer Pueblo de Oro Development Corporation. The loan proceeds will be used to fund the new and expansion projects of SPPI and PDO, both member companies of the ICCP Group.
The loan agreement signifies the start of a strong partnership between the Security Banking Corporation and the ICCP Group of Companies built upon common values and goals.
Investment & Capital Corporation of the Philippines (ICCP), one of the country’s leading independent investment houses, arranged the credit facilities.
SPPI is highly regarded as one of the country’s pioneers and leaders in private industrial estate development, with nearly 1,500 hectares of industrial estates developed and under development.
SPPI’s industrial parks are strategically located in Laguna (Cabuyao and Calamba), Batangas (Santo Tomas and Malvar), Lapu-Lapu City and Hermosa, Bataan. Upcoming industrial estate locations are San Jose, Batangas and Tarlac City. SPPI is also partnering with the Bases Conversion and Development Authority (BCDA) to develop a 100-hectare industrial park in New Clark City, Tarlac.
Pueblo de Oro Development Corporation, one of the promising and fast-growing real estate developers in the country, continues to develop and offer master-planned, best-in-class residential and mixed-use projects in urbanized locations and emerging growth hubs such as Batangas, Pampanga, and Lapu-Lapu City.
PDO’s 400-ha flagship township in Cagayan de Oro (CDO) remains committed to developing award-winning sustainable projects. Two major developments are set to launch in the next two years. Among PDO’s new project locations are Lipa City, Ibaan in Batangas, and Carcar in Cebu.
“ICCP is proud to support Pueblo de Oro and SPPI in furthering their respective missions of responsible, climate-adapted township & industrial estate developments,” said Valentino S. Bagatsing, Chairman and CEO of ICCP.
“I take this opportunity to thank both the ICCP Group and Security Bank for making this partnership a reality,” highlighted Security Bank Chairman Atty. Cirilo Noel. “The Bank wanted to be associated with an institution with credibility, integrity, and excellence. I wish this partnership would be a long-standing partnership for both our success and benefit and to create economic value for our shareholders, our community, and the country.”
Security Bank’s loans to Science Park of the Philippines and Pueblo de Oro Development Corporation align with the Bank’s mission to enrich lives, empower businesses, and build communities sustainably. The Bank seeks to build on the partnership with a multi-faceted approach across all financial services, including loans, deposits, and cash management solutions.
For his part, ICCP Group Chairman Guillermo Luchangco expressed his gratitude for the Security Bank’s support as SPPI and PDO embark on their expansion in the industrial estate and residential and mixed-use property development businesses. “In our Group, we emphasize integrity, ethics, and quality. We are known for these three pillars, and Security Bank is a perfect banking partner for us.”