MANILA, Philippines — Developer Arthaland Corp. has completed the sale of a 40-percent stake in residential property arm Zileya Land Development Corp. to a unit of Japanese real estate giant Mitsui Fudosan Co. Ltd. In a disclosure, Arthaland said it had transferred and conveyed to SEAI Metro Manila One Inc. (SEAIMMO) 200,000 common shares and 2.84 million Series B preferred shares in Zileya, along with P216 million in advances. The total consideration is P724.83 million. The transaction marks the consummation of the joint venture and investment agreements entered into by Arthaland, its wholly owned subsidiary Zileya and SEAIMMO. READ: Arthaland buys […]... Keep on reading: Arthaland seals residential property venture with Mitsui unit