MANILA – Low-cost housing developer 8990 Holdings Inc. has tapped the Waltermart group as its partner for mall operations.
8990 Holdings said it has entered a joint venture with Waltermart for mall operations in its properties in Ortigas Avenue extension and Tondo, Manila.
“The CEO of House [JJ Atencio] is pleased to inform the investing public that 8990 Holdings has entered into a joint venture agreement with Waltermart as its strategic partner for the mall operations, particularly in the Ortigas Avenue extension and the Vitas, Tondo properties,” the firm said in a disclosure to the stock exchange on Thursday.
8990 Holdings has an 8.4-hectare township project in Tondo and a 13-hectare property in Ortigas.
The firm did not give other details on its partnership with the Waltermart group, which is a 50-50 partnership between the Sy family of SM and the Lim family.