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Wednesday, December 08, 2004
Fil-Estate, partner lease land for mall
FIL-ESTATE Properties Inc. and Holmsdale Realty & Development Corp. have signed a contract of lease with SM Prime Holdings Inc. (SMPH) for the construction of a mall.
Fil-Estate Properties Inc. (FEPI), a wholly owned subsidiary of Fil-Estate Land Inc., and its partner, Holmsdale Realty, entered into a 25-year contract with SM Prime over 5.8086 hectares of land in San Pablo City to be built into a mixed-use commercial mall.
Fil-Estate Land told the stock exchange that the leased land occupies the frontage of the Riverina residential subdivision project of FEPI.
The lease is renewable for another 25 years, the company revealed. (CTL)
(December 8, 2004 issue)
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