TYCOON George Ty-led conglomerate GT Capital Holdings Inc. has stuck a deal to buy into affordable housing developer Property Company of Friends Inc.(PCFI), the key operating unit of the Pro-Friends Group.
GT Capital announced on Friday a deal to buy an initial 22.68 percent of PCFI for P7.24 Billion plus an option to increase its stake to 51 percent within the next 3 yrs.
“We view this acquisition as a mutually beneficial partnership for both parties. Pro-friends has the product expertise and the strategic land bank, while GT Capital has the financial resources and access to capital. Our partnership adds a new dimension to GT Capital’s property development.

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