Profriends
Also known as: Property Company of Friends, Inc. · Profriends
Definition
Profriends, officially the Property Company of Friends, Inc., is a major real estate developer in the Philippines, specializing in low-cost, socialized, and middle-income housing. Headquartered in Mandaluyong, the firm has built over 60,000 homes since its founding in 1999 by Guillermo Choa. Profriends is widely recognized for developing Lancaster New City, a massive 2,000-hectare master-planned community spanning Kawit, Imus, and General Trias in Cavite, integrating residential subdivisions with retail, schools, and offices. (Wikipedia, Profriends Govt)
Identities
| Source Type | Identity |
|---|---|
| Wikipedia | Property Company of Friends |
| Wikidata | Q24204561 |
| DBpedia | Property_Company_of_Friends |
| ProductOntology | N/A |
| Wiktionary | N/A |
| Library of Congress Subject Headings (LCSH) | N/A |
| MeSH | N/A |
| NCBI Taxonomy | N/A |
| AGROVOC | N/A |
| Google Scholar | Profriends Property Company of Friends real estate Lancaster Cavite |
| ConceptNet | N/A |
| OpenCyc | N/A |
Also Known As
- Property Company of Friends, Inc.
- Profriends
Examples and Analogies
- Lancaster New City: A massive township development in Cavite featuring affordable housing estates, a central commercial square, and parish church.
- Bellefort Estates: A master-planned premier horizontal development in Bacoor, Cavite, targeting the middle-market segment.
Usage Scenarios
1. Buying a Townhouse in Lancaster
A family purchases a two-story townhouse in Lancaster New City, citing proximity to the CAVITEX expressway for their Manila commute.
2. Opening a Retail Shop in Cavite
A business owner leases a commercial space in the Square Mall within Lancaster to capture resident foot traffic.
Strategies
- Target horizontal property developments along the CAVITEX and CALAX corridors to benefit from regional highway expansions.
- Utilize in-house developer financing options to bypass strict bank loan verification processes during early purchase stages.
Security and Safety Measures
- Verify all project registration documents and DHSUD License to Sell (LTS) before reservation.
- Confirm that property purchases conform to the standard terms of the Maceda Law for installment payments.
Historical Context
Profriends was incorporated in 1999 by Guillermo Choa to supply affordable housing to low-income Filipino families. It began with pocket-sized subdivisions in Cavite. In the late 2000s, it consolidated land to develop Lancaster New City, which grew into one of the largest continuous township projects in Cavite. In 2019, GT Capital Holdings acquired a majority stake in Profriends, strengthening the company’s financial backing. (Wikipedia)
Challenges and Controversies
Drainage and Flood Management
Developing large-scale flat agricultural landbanks in Cavite requires significant drainage engineering to prevent seasonal flooding.
Utility Connection Timelines
Ensuring timely connections to power and water grids in remote provincial sites during project turnovers.