The Villar family, already acknowledged as the country’s richest, its wealth aggregating USD 11 billion, has become even more rich.
Villar-led Golden MV Holdings Inc. reported a surge in profits, nearing P1 trillion in 2024 following the acquisition of key landholding companies. The company posted P999.72 billion in net profits, an increase from P1.46 billion in 2023, driven by the acquisition of companies owning prime land within the Villar City development.
Golden MV’s gains on investment properties surged to P1.33 trillion, boosted by the appreciation of the properties. Total assets climbed to P1.37 trillion by the end of December 2024, from only P28.64 billion the year before.
This development undoubtedly made Golden MV shareholders some of the most rewarded entrepreneurs in the country to date based on tax rules mandating the distribution of retained earnings as dividends. The Bureau of Internal Revenue (BIR) prohibits corporations from keeping “excessive” retained earnings, which are defined as earnings not used for business expansion, development or other corporate purposes and left idle without clear justification.
The rules are such that excess earnings are punished with a tax to compel their distribution to shareholders.
In September 2024, the company acquired Althorp Land Holdings Inc., Chalgrove Properties Inc., and Los Valores Corp., which collectively own 366 hectares within the 3,500-hectare Villar City south of Metro Manila. These properties were recorded as investments, contributing significantly to the company’s asset growth.
But even with the surge in value, the company saw a 25 percent drop in revenue to P3.57 billion from P4.75 billion in 2023 due to a decline in residential unit sales, which fell 26 percent to P3.31 billion. Costs also decreased by 23 percent, reflecting the reduced sales activity.
Liabilities increased sharply, reaching P355 billion, largely due to the deferred tax liabilities associated with fair value gains.
In response to the company’s evolving business portfolio, Golden MV is set to rebrand as Villar Land Holdings Corp. The name change reflects its focus on real estate development, particularly in Villar City. The company’s stock symbol will also change to VLC from HVN.
This corporate shift underscores the growing commercial significance of Villar City and Golden MV’s expansion in both residential and real estate sectors, alongside its established presence in deathcare through Golden Haven and socialized housing under Bria Homes.
