Arthaland to build a medium-rise BPO building in Metro Manila

Boutique green developer Arthaland Corporation is planning to build a medium-rise office building for business process outsourcing (BPO) firms in Metro Manila. The company is acquiring land spanning 3,000 square meter where it can construct the building, the company said. It will be paying P822 million to acquire the property by March. Recently, the company announced plans to build the Cebu Exchange office tower, a P11.5bn building designed to address the needs of the outsourcing industry in Cebu. Arthaland has received regulatory approval for a shelf offering of preferred shares amounting to P3 billion, with the initial tranche planned for issuance next week.