RFM embarked on thorough product R & D and market research, as it re-strengthened the market positioning of brands with evidently enormous potentials.
With full, clear-sighted confidence, we expect these to become our market leaders. RFM Corporation believes that building brands for today is the surest way to build the business for tomorrow. |
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| RFM Property Firm Raises P1B Funding |
| Tuesday, September 25, 2007 |
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Philippine Townships Inc. (Philtown), the wholly owned property development arm of RFM Corporation, announced yesterday the signing of a Php1.0 billion structured funding package designated towards the construction of its Metropolitan Tower project, a 47 storey residential condominium in the heart of Makati.
The agreement was concluded with Filipinas Investments Ltd. (Philippines Branch Office) (FIL), the local branch of Capmark's Asia operations.
Capmark Financial Group Inc. (Capmark) is a global, diversified company that provides a broad range of financial services to investors in commercial real estate-related assets. Capmark has three core businesses: lending and mortgage banking, investments and funds management and servicing. Capmark operates in North America, Europe and Asia.
RFM President and CEO Joey A. Concepcion hailed the agreement as "a major step forward for Philtown in strengthening its financial base and project delivery track record." Philtown President and CEO Eleuterio D. Coronel said, "The recently concluded agreement with FIL is uniquely structured to provide for sufficient capital to be drawn upon over the development period."
Philtown's Metropolitan Tower project is located on Estrella St. in Makati, It is envisioned as an affordable luxury residential condominium that is part of a distinct and selfcontained community.
In addition to its unique location, the Metropolitan Tower offers residents something other residential condominiums cannot - an exclusive sports resort and athletic club. Right at its doorstep is the Metropolitan Club, a newly redeveloped complex with a full range of sports and recreational facilities.
Established in 1995, Philtown was initially organized as the property firm of the RFM Group. Through the years, the Company has developed a number of residential subdivisions in the vicinity of Metro Manila. The Company boasts of having a sizeable land bank of 200 hectares for further development of horizontal projects.
Since the late 90's, the Company has ventured into vertical residential developments. Apart from One Mckinley, Fairways and the Metropolitan Tower, it is now developing the WH Taft project, a residential condominium that will cater to the needs of students in the busy heart of Manila. The Company is likewise pursuing other residential condominiums in Quezon City and Pasig under a new design concept aptly named Asiana Residences. |
