City & Land raising P200M for new projects

City & Land Developers Inc. is raising P200 million from the sale of short-term commercial papers to fund new projects this year. “The proceeds shall be used to finance the funding requirements of the corporation," the listed property developer said. The company has filed with the Securities and Exchange Commission the application to float the commercial notes. City & Land is 49.73-percent owned by Cityland Development Corp. —Nikka Corsino/VS, GMANews.TV