Arthaland keeps PRS Aa rating for P3-B bonds

LISTED property developer Arthaland Corp. said it retained its PRS Aa credit rating from Philippine Rating Services Corp. for its P3-billion green bonds, with a stable outlook.

The “PRS Aa” rating indicates obligations of high quality and low credit risk, with the obligor demonstrating very strong capacity to meet its financial commitments, the company said in a statement on Tuesday.

A stable outlook indicates that the PRS Aa rating is likely to be maintained or remain unchanged over the next 12 months.

Arthaland is a real estate developer with a fully certified sustainable portfolio across its residential and commercial projects, recognized by local and international sustainability organizations.

The company’s developments have mainly focused on the upscale and luxury segments, although it entered the midscale market with the launch of Una Apartments in 2022.

The midscale segment has since grown to account for 27% of residential revenues in 2024, the company said.

It also said it accelerated the launch of the third Una Apartments tower following demand for earlier phases.

“In 2024, the company achieved its five-fold growth target for its ‘high growth stage’ (2018-2024), reaching a gross floor area (GFA) of approximately 456,019 square meters (sq.m.),” Arthaland said.

“The company is now entering the ‘next stage’ of its three-tier plan. In this stage, ALCO intends to build a steady pipeline of projects, ranging from single and dual towers to multi-phased projects which will be developed in the long-term,” it added.

Shares in Arthaland Corp. rose by 2.35% to P0.435 each on Wednesday. — Alexandria Grace C. Magno