Araneta Properties Inc., the listed company of businessman Gregorio Araneta, plans to develop a 140-hectare property in Caloocan City into a central business district, a top executive said over the weekend. Araneta Properties chairman Gregorio Araneta III said the company’s property in Caloocan was a very good site for a business district because of the development of Metro Rail Transit Line 7 in the northern part of Metro Manila. “That would be my central business district because currently there is no central business district in Caloocan. The Caloocan property is one the big pieces of land that Araneta plans to consolidate under his listed property firm. Aside from the Caloocan property, Araneta also consolidates additional properties in San Jose Del Monte, Bulacan under the listed entity.

Source: The Standard October 29, 2017 13:18 UTC