Premiere Horizon Alliance Corporation (PHA) announces that the Company has entered into a Memorandum of Agreement with Goshen Land Capital, Inc. for an investment resulting in a 55% stake in Goshen Land. The total consideration for the equity transaction is Php440 Million Pesos.
Goshen Land is a premier Baguio-based homegrown real estate developer in Northern Luzon. The Company develops innovative master planned communities of low to mid-rise residential and commercial condominiums including student dormitories. Goshen Land presently has 18 projects with more than 3,800 units and an asset base of Php1.6 Billion Pesos.
Premiere Horizon’s investment is envisioned to accelerate growth and expansion of Goshen Land’s investment property products. PHA is fully supportive and confident of the management team headed by Atty. Alexander Bangsoy, a 2013 Ernst & Young Entrepreneur of the Year Finalist, to undertake the planned completion of existing projects and the expansion and specialization into investment property products.
Premiere Horizon’s mission of invigorating the countryside and its focus on investment properties is complementary with Goshen Land’s “glocal” strategy of a company with “global standards” and a “local heart.” This guides the company’s thrust as it successfully competes and differentiates itself from established real estate developers based in Metro Manila.
The investment in Goshen will considerably improve Premiere Horizon’s consolidated financial position. The projected income from Goshen Land, CUBES and Redstone will transition Premiere Horizon from non-recurring to recurring high growth income. With the impending ASEAN Economic Community (AEC) integration, PHA, through its subsidiaries, aims to be a regional player in food security, natural resources development, tourism, shelter and communities.