UCPB extends P600M credit to Monterrazas developer-A A +A
Thursday, June 28, 2012
UNITED Coconut Planters Bank of the Philippines (UCPB) extended a P600 million credit facility to Genvi Development Corp. for the development of the first urban mountain resort community in Cebu, Monterrazas de Cebu.
Present during the MOA signing held last May 17 in Quest Hotel were Genvi Development Corp. president Augusto Villalon; executive vice president Marga Villalon and managing director Dindo Antonio Perez. Present from UCPB were Higino Macadaeg Jr., executive vice president for corporate and consumer banking group and board members Raul del Mar and John Young.
With the additional working capital granted by UCPB, further development can be expedited for Monterrzas de Cebu, which is now nearing completion. (PR)
Published in the Sun.Star Cebu newspaper on June 29, 2012.