Real estate developer Pueblo de Oro Development Corp has signed a P500-million term loan agreement with the Development Bank of the Philippines (DBP) on April 20, according to the developer.
According to Pueblo de Oro Chairman and Chief Executive Officer Guillermo Luchangco, the company aims to build more socialized and economic housing developments to help address the country’s 6.5 million housing backlog.
The loan is the firm’s third transaction with the state-owned bank since 2015, with the loan proceeds to be used to construct more residential projects within project sites in Cagayan de Oro, Cebu, Pampanga, and Batangas
