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News & Updates

Greenfield said keen on leisure and tourism developments
Business Mirror - December 6, 2010
Greenfield Development Corporation
Greenfield President and Chairman of the Board Jeffrey D.Y. Campos (1st from right) and EVP and GM Atty. Duane A.X. Santos with partner Cisco Philippines Edd Cabardo and Lisette Mangonon at the Twin Oaks Place Showroom.

By: Miguel R. Camus

GREENFIELD Development Corp., a privately held property developer owned by the Campos family of United Laboratories, is ready to diversify into the leisure and tourism business and is seeking partners for its foray in this segment, its top official said last week.


In an interview with the BusinessMirror, Greenfield chairman Jeffrey Campos said the company has already been in recent talks with various real estate companies, some of which are publicly listed, for possible joint-venture deals.


While declining to name the companies, Campos said previous discussions involved prime locations within Metro Manila and potential resort destinations outside of the capital.


Campos there have been no further talks after he decided to turn down the said proposals given that Greenfield was preoccupied with the launch of Twin Oaks Place, its P2.5-billion residential condominium project within the 11-hectare Greenfield District development in Mandaluyong City.


“I still am very much interested in [entering] this segment. I hope that one of our partners will push through with their promise of allowing us to develop for them,” Campos said.


At present, Greenfield has a few hundred hectares of undeveloped land mainly located in Southern Metro Manila which, Campos said, may not be ideal for leisure and tourism.


“We don’t have the properties for these projects—and we are not ready to buy,” the company chairman explained. “I would like to do something that we have seen in Singapore City, where there is entertainment and it’s also very wholesome a place.”


Greenfield currently generates equal revenues between real estate sales and recurring income from its commercial retail and office rental segments, said Duane Santos, Greenfield executive vice president.


Santos said the Greenfield District is the company’s newest flagship development, and is expected to have 35 buildings to be developed in at least 10 years.


Other residential developments of the 39-year-old firm include the Hillborough Subdivision Muntinlupa City, Southwood Residences in Carmona, Lexington Garden Village in Pasig City, San Antonio Heights and San Rafael Estates in Sto. Tomas, Batangas, Soho Central Condominium in partnership with Century Properties and Meridien Group and Pramana Residential Park.





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