Property Company of Friends, Inc. (Pro-Friends) is GT Capital’s affordable economic property developer. Pro-Friends was established in 1999 is currently one of the country’s leading property developers, focusing on the low-cost and economic housing segments, as well as retail space and business process outsourcing (BPO) office leasing. In over 16 years, Pro-Friends has built and sold over 36,000 affordable homes in the provinces of Cavite and Iloilo. In 2015 alone, Pro-Friends completed 4,681 homes.
Pro-Friends’ flagship project, Lancaster New City
, spans the areas of Kawit, Imus, and General Trias in Cavite province. Pro-Friends’ largest project to date, Lancaster New City, is a 1,600-hectare master-planned, mixed-use, live-work-play-worship township development.
Lancaster New City currently accommodates over 18,000 residents and hosts the Church of the Holy Family, the St. Edward Integrated School System, and Suntech i-Park—the first IT park in Cavite.
Another major Pro-Friends project is the Bellefort Estates
in Bacoor and Dasmariñas cities, also in Cavite province. Bellefort Estates is considered a choice location for a township development with its proximity to the newly opened Muntinlupa-Cavite Expressway (MCX) that connects to the Southern Luzon Expressway (SLEX).
Other ongoing Pro-Friends projects include the Parc Regency Residences
in Iloilo province and the Carmona Estates
in Carmona, Cavite province, among other developments.
As a consequence of GT Capital’s initial equity stake and attainment of effective control, Pro-Friends was consolidated into the holding company’s financial statements effective September 1, 2015.
Pro-Friends’ partnership with GT Capital aims to strengthen the property developer’s ability to be a leading player in the low-cost and economic housing segments
, considered by many as the real sweet spot in the country’s property sector. Pro-Friends aims to contribute to serving the market’s urgent need to overcome the supply shortage of over three million homes. This is projected to grow to over six million homes by 2030.
GT Capital’s acquisition of Pro-Friends is seen as mutually beneficial for both companies. Pro-Friends contributes to the strategic partnership its low-cost and economic property development expertise and strategic land bank, while GT Capital brings to the table its robust financial capability and access to capital. The venture adds a new dimension to GT Capital’s property development portfolio and effectively expands its product and service offerings in the sector.
The acquisition also complements Federal Land’s property development projects. GT Capital now offers Federal Land’s upper-mid to high-end vertical projects as well as Pro-Friends’ low-cost and economic horizontal and mixed-use townships in key areas near Metro Manila, effectively fusing GT Capital’s property sub-segments.