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March 01, 2024

Ovialand gets P600M loan from Security Bank

Security Bank has granted a loan facility to the property developer.

Security Bank Corp. granted a P600 million loan facility to Ovialand. The bank said the firm will use the proceeds to pursue expansion plans including developing new horizontal residential projects and increasing the size of its land bank.

SB Capital Investment Corp. arranged the loan facility that was fully taken up by Security Bank. Ovialand said the financing package will enable the firm to be more aggressive in realizing its growth potential.

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