by Jan Michael Carpo, Reporter
In a move expected to bolster the country’s real estate and industrial estate sectors, Security Bank Corp. has granted a P3.5 billion loan facility to Science Park of the Philippines, Inc. (SPPI) and Pueblo de Oro Development Corp. (PDO), both key members of the ICCP Group.
Photo shows Security Bank executives (from left:) John Cary Ong (EVP Wholesale Banking Segment), Maria Cristina Tingson (Director), Sanjiv Vohra (President and CEO), and Atty. Cirilo Noel (chairman), together with Guillermo Luchangco (ICCP Group chairman), Richard Osmond (SPPI president and CEO), Valentino Bagatsing (ICCP chairman and CEO), and Bethilda Castillo (SPPI Treasurer) during the signing ceremony.
The loan agreement, marking the beginning of a strategic partnership between Security Bank and ICCP, is set to accelerate the growth of both companies as they expand their respective operations and undertake ambitious development projects.
The P3.5 billion financing package allocates P960 million to PDO, a developer of residential and mixed-use real estate projects, and P2.56 billion to SPPI, an industrial park developer. The funds are intended to fuel the companies’ expansion initiatives and enable the launch of new, high-impact projects, reinforcing their contributions to the country’s growing urban and industrial landscape.
Security Bank: Strengthening a strategic partnership
The deal, facilitated by Investment and Capital Corp. of the Philippines (ICCP) — a well-established independent investment house — sets the stage for a long-term collaboration between Security Bank and ICCP Group.
Valentino Bagatsing, chairman and CEO of ICCP, expressed his pride in supporting PDO and SPPI, noting the alignment of their missions with responsible, climate-adapted developments that cater to the nation’s evolving needs for sustainable township and industrial estate growth.
“ICCP is proud to support PDO and SPPI in furthering their respective missions of responsible, climate-adapted township and industrial estate developments,” Bagatsing said. “This partnership underscores our shared commitment to sustainable, long-term growth that benefits both businesses and the communities they serve.”
Empowering growth and innovation
Cirilo Noel, chairman of Security Bank, emphasized the importance of working with reputable partners like ICCP, underscoring the alignment between the bank’s values and the principles upheld by the ICCP Group.
“We’re excited to work with a company that embodies honesty, reputation, and excellence,” said Noel. “This partnership is just the beginning of what we hope will be a long-lasting relationship that will drive not only our mutual success but also generate economic value for our shareholders, our community, and the nation.”
As a leading financial institution, Security Bank has consistently sought to offer impactful solutions that empower businesses, promote sustainability, and build communities. The loan to ICCP Group forms part of the bank’s broader goal to enhance lives and support the growth of businesses in the Philippines.
Through its wide range of financial services, including loans, deposits, and cash management solutions, Security Bank aims to further solidify its collaboration with ICCP and continue fostering the development of industries that play a crucial role in the country’s economic advancement.
Earlier this year, the bank has announced that it is setting its sights on a significant profitability boost, targeting a return on equity (ROE) of approximately 10% by 2025.
SPPI: Leading industrial park development
With over 1,500 hectares of industrial parks strategically located in high-demand areas such as Laguna, Batangas, Lapu-Lapu City, and Hermosa, Bataan, SPPI stands as a leader in the Philippines’ industrial estate development sector.
The company’s extensive portfolio positions it as a key player in the nation’s push for improved infrastructure and industrial capabilities.
Looking forward, SPPI has exciting plans for expansion, including the development of a 100-hectare industrial parkin New Clark City, Tarlac. This project, in partnership with the Bases Conversion and Development Authority (BCDA), reflects the company’s vision to provide world-class industrial spaces in emerging growth areas.
Additional projects are also in the pipeline in San Jose, Batangas, and Tarlac City, further solidifying SPPI’s foothold in the industrial estate market.
PDO: Expanding residential and mixed-use projects
Meanwhile, PDO continues to make strides in the residential and mixed-use real estate sector, with ongoing developments in Lapu-Lapu City, Pampanga, and Batangas. The company is preparing to break ground on two major projects in the coming years, further expanding its already impressive portfolio.
PDO’s flagship project remains its 400-hectare township in Cagayan de Oro, a sustainable development initiative that continues to evolve into one of the company’s most significant and innovative undertakings. This project embodies PDO’s commitment to creating thriving, sustainable communities that cater to the needs of modern Filipino families.
The P3.5 billion loan facility is a crucial step toward securing the financial resources needed to drive ICCP’s growth agenda and reinforce its reputation as a responsible and forward-thinking investment group. With Security Bank’s support, SPPI and PDO are well-positioned to make a lasting impact on the Philippines’ real estate and industrial sectors.
Guillermo Luchangco, chairman of the ICCP Group, expressed his gratitude to Security Bank, praising the bank’s commitment to fostering growth and stability for its partners.
“Security Bank is our ideal banking partner,” Luchangco said. “Their support is integral to the ongoing growth of SPPI and PDO, and we look forward to a lasting and mutually beneficial relationship.”
As both companies continue to expand their footprint and contribute to the country’s economic development, this collaboration with Security Bank sets the stage for even more ambitious projects that will benefit local communities and drive the Philippines’ continued growth.
For more information about Security Bank’s financing solutions and its ongoing partnerships, visit https://www.securitybank.com.