Philippines Urban Living Solutions
 | |
| Private | |
| ISIN | 🆔 |
| Industry | Real estate |
| Founded 📆 | 2013 |
| Founder 👔 | |
| Headquarters 🏙️ | , , |
Area served 🗺️ | |
Key people | Mark Joseph A. Kooijman (CEO) Jelmer David Ikink (Group Director) |
| Products 📟 |
|
| Owner | SM Investments Corporation (61.2%) |
| Members | |
Number of employees | |
| 🌐 Website | www |
| 📇 Address | |
| 📞 telephone | |
Philippines Urban Living Solutions Inc. (PULS) is a Philippine real estate company based in Makati.
History[edit]
Philippines Urban Living Solutions was established in 2013 by a group of Dutch and Filipino ex-investment bankers, Steven Zwaan and Mark Kooijman. [1][2]
Company[edit]
Philippines Urban Living Solutions is the primary owner [1][3], developer, and manager of the young professional housing brand, MyTown, in the Philippines.
Philippines Urban Living Solutions[4] specializes in building rental housing communities or co-living dormitories under the MyTown name, with the objective to enhance the quality of life for young Filipino professionals, who are often the under-served demographic, with various lifestyle amenities.[5][6]
Apart from renting the dormitories to individual tenants, Philippines Urban Living Solutions partners with corporate clients who then offer the dormitory rooms to their employees to increase their retention rate, ensure business continuity in case of unforeseen calamities and accommodate trainees.[7]
In the 2015-2016 Asia Pacific Property Awards, their MyTown Dublin project won the “Best Architecture Multiple Residence Philippines Award”.
Investments[edit]
In 2015, Franklin Templeton Emerging Markets Fund, a fund led by Mark Mobius under Franklin Templeton, the global investment banking management organisation, entered into a partnership with PULS, who announced the placement of convertible notes to a consortium with Franklin Templeton Strategic Emerging Market Fund IV LDC as a lead investor and BPI Capital acted as the Financial Advisor to PULS.
Proceeds from the convertible notes were used to finance the construction of approximately 3,000 apartment units and expand the land bank for PULS by 2020, according to Jelmer David Ikink, the Group Director of Philippines Urban Living Solutions. [8] Mark Mobius highlighted, during the investment closing ceremony, that this is their first private equity investment in the Philippines as they considered MyTown to be an innovative and creative idea worth investing. [9] Financial terms of the transaction remain undisclosed.
The company is eyeing IPO in 2018.
Ownership[edit]
In 2017, Philippine Competition Commission (PCC) gave approval to the Filipino conglomerate SM Investments Corporation to acquire 61.2% stake in PULS. [10] [11] [12]According to PCC’s Merger and Acquisition Office (MAO), the buyout will not result in lessening of competition as other market participants exist.[1] The acquisition was completed by July 2018.[13][4][14]
Leadership[edit]
As of 2018, PULS functions under the leadership of Mark Kooijman[15] as the Chief Executive Officer and Jelmer Ikink as Group Director.
References[edit]
- ↑ 1.0 1.1 1.2 Dumlao-Abadilla, Doris. "SM's buyout of 61.2% of "MyTown" dorms ok'd". Retrieved 2018-07-16.
- ↑ "PULS hails Devex's work in MyTown Athens Opening | Devex Inc". Devex Incorporated - Engineers + Contractors. 2018-01-31. Retrieved 2018-07-26.
- ↑ "MyTown on track to hit 6K bedspace target - The Manila Times Online". www.manilatimes.net. Retrieved 2018-07-16.
- ↑ 4.0 4.1 "Terms of Service Violation". www.bloomberg.com. Retrieved 2018-07-16.
- ↑ "Affordable, high-quality living for the millennial work force". BusinessMirror. Retrieved 2018-07-16.
- ↑ "Traffic Is So Bad in Manila Workers Are Moving Into Dorms". Bloomberg.com. Retrieved 2018-07-16.
- ↑ "Real estate firm targets yuppies with 'high-quality' dorms". Rappler. Retrieved 2018-07-16.
- ↑ "BusinessWorld | MyTown developer planning 12 more dormitories near BGC". www.bworldonline.com. Retrieved 2018-07-16.
- ↑ "Real estate firm targets yuppies with 'high-quality' dorms". Rappler. Retrieved 2018-07-16.
- ↑ "PCC allows SM Investments to buy dormitory developer". Rappler. Retrieved 2018-07-26.
- ↑ "Commission Decision No. 05-M-075/2016: Acquisition by SM Investments Corporation (SMIC) of shares in Philippines Urban Living Solutions, Inc. (PULS) | Philippine Competition Commission". phcc.gov.ph. Retrieved 2018-07-26.
- ↑ "Investments Corporation" (PDF). SMIC: 4.
- ↑ "SM mulls over how to go into e-commerce business". GMA News Online. Retrieved 2018-07-16.
- ↑ Dumlao-Abadilla, Doris. "SM buys dormitel chain "MyTown"". Retrieved 2018-07-26.
- ↑ Inc., Primer Media. "Mark Kooijman of Philippines Urban Living Solutions". Business. Retrieved 2018-07-26.
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