MANILA, Philippines — Primex Corp. has taken 100 percent control of its subsidiary, Primex Realty Corp.
The subsidiary owns the 31-story Stratosphere in Salcedo Village, Makati City. It also owns the upcoming Primex Tower along EDSA Connecticut St. in Greenhills.
Primex said the acquisition is expected to beef up its land bank and enhance shareholder value in view of the tremendous earning potential of the properties.
Last year, the company said it may diversify into the mass housing segment.
Its roster of completed projects include two high-end residential projects namely, Goldendale Village located in Malabon and The Richdale situated along Sumulong Highway, Antipolo City.
The company also completed other high end developments such as Goldendale II and Tresor Residences, which are also located in Malabon City.
Primex was incorporated in 1986 as a real estate development company. it is headed by its chairman and president Ernesto Ang.