A. Brown Co. Inc., a publicly listed company with a diverse portfolio, announced on Friday that it will invest a total of P2.5 billion over the next 11 years to develop a section of the Misamis Oriental Provincial Capitol Compound into a mixed-use complex.
The Mindanao-based company, with business interests spanning property development, power generation, public utilities, and agribusiness, revealed that the project will include the construction of essential public infrastructure, a high-rise multipurpose building, commercial and office spaces, a dormitory, and a public park. This development will be undertaken in a joint venture with the provincial government of Misamis Oriental.
The project will be executed in two phases. The first five years will focus on building office spaces, a commercial and shopping center, a public park, and car parking facilities. The second phase, which will span the following five years, will involve the development of a multilevel mixed-use building and dormitory.
As part of the joint venture, the Province of Misamis Oriental will receive a share of the project’s revenue.
Additionally, the agreement includes the acquisition of a 4,024-square-meter portion of the property by A. Brown Co., which will be developed for its own account.
The required clearance from the Commission on Audit (COA) has already been obtained, ensuring the project’s regulatory compliance.
