Divestment of non-core business in recent years resulted in substantial liquidity for South China. This prompted the company’s search for new business opportunities.
In December 2010, the company decided to go into property development and established its property arm SOC Land Development Corporation (SOC Land).
The new venture is geared at not only enhancing the company’s shareholder value, but filling the need of Filipinos for better housing products which are affordable quality homes that will elevate their lifestyle while keeping within their means.
Also sees how it can contribute to the economy through this new venture. Housing development have big multiplier effects on domestic economy, with every peso spent on building houses generating several more pesos in our gross domestic product. More housing investment and production mean more jobs and sales for allied industries.
SOC Land’s access to the Puyat-Reyes group’s various related expertise and resources creates a total synergy the will benefit event the most practical home buyer. South Chinas’ 100 percent owned land bank includes prime properties in urban areas including the site where its maiden project Anuva will be situated. Thus, unlike its competitors, the company does not have to do joint venture with other landowners or buy expensive lots to develop.
SOC land is also affiliated with the manufacturers of some of the materials needed for the construction and finishing of the buildings. These include Puyat Steel Corporation, International Pipe Industries Corporation (IPI) and Puyat Flooring Products Inc., makers of industry leading APO brand of construction materials (APO Galfan, APO Floors and APO Pipes).