PHirst Park taps Security Bank for P450-M loan

PHirst Park Homes Inc. (PPHI) has signed a loan facility with the Security Bank Corp. for a P450-million development funding for a project in Laguna.

The money will finance land development and construction of the 18.-5-hectare PHirst Park Homes San Pablo project.

“Security Bank will also offer end-user financing to PHirst Park Homes buyers in Tanza, Cavite; Lipa, Batangas; and San Pablo, Laguna,” according to Century Properties Group.

PHirst Park is a joint venture between Century Properties and global business enterprise Mitsubishi Corporation.

Security Bank will offer a 90% loan value of the total contract price for PHirst Park Homes buyers, with up to 25-year maximum loan term.

“PHirst Park Homes has been building premium communities while elevating the standards of first-home buyers at competitive price points,” said PHirst Park Homes president Ricky Celis.

“We are proud of this partnership with Security Bank, as it makes our homes more attainable to first-time homebuyers through very flexible loan terms,” he added. —Jon Viktor Cabuenas/VDS, GMA News