Federal Land, Inc. (FLI) said it will focus on larger developments in the province of Laguna following the divestment of Crown Central Properties Corp. (CCPC).
“The master-planned community in Binan developed by CCPC, our joint venture with Crown Equities, is almost completely sold out and represents a small, legacy portion of our total development portfolio,” FLI President Jose Mari H. Banzon said in a Viber message on Monday.
“We have decided to separate from CCPC and focus our resources on our recent and larger growthOptions in Laguna,” he said.
In October, Mr. Banzon said the company has completed its 2025 project launches and is preparing several residential developments for 2026, including a 21-hectare horizontal project in Biñan, Laguna as a continuation of the Meadowcrest community.
He said the Binan project is one of the major developments of the company.
He said, “This includes the sequel to Hartwood, a village in Meadowcrest. Federal Land still has a significant land bank in Binan and Sta Rosa.”
Last month, FLI and unit Horizon Land Property Development Corp. sold their combined 52% stake in Crown Central Properties to Crown Equities, Inc. Sold for P73.48 million.
Crown Equities acquired 62.5 million ordinary shares worth P68.12 million from FLI and 5 million shares from Horizon Land worth P5.37 million. The board approved the acquisition on December 16, and the deal is subject to closing conditions.
Following the transaction, Crown Equities now owns 100% of Crown Central Properties, which develops residential and commercial projects.
Crown Central was originally established in 1996 as a joint venture between Crown Equities and Solid Share Holdings – now Federal Land – with the aim of developing the Palma Real residential estate in Biñan, Laguna.
In 2003, it entered into a memorandum of understanding with Sta. Lucia Realty and Development, under which Crown Central contributed the land and initial improvements, while Sta. Lucia completed the subdivision.
Federal Land GT Capital Holdings, Inc. Ltd., a diversified conglomerate with interests in automotive, banking and real estate. -Alexandria Grace C. Magno