Formerly EIB Realty Developers, Inc., Arthaland Corporation (ALCO) was incorporated on August 10, 1994 for the purpose of engaging in property development of residential, commercial, leisure and industrial projects. Following the reduction in the par value of its shares and decrease in authorized capital stock in 2007, ALCO undertook a recapitalization program which led to the entry of new investors. On November 27, 2008, during the company's annual stockholders' meeting, a resolution was made to change its name to Arthaland Corporation, which was subsequently approved by the Securities and Exchange Commission on January 26, 2009. This change in name was made to reflect the renewed thrust of the new Board and management of the company. ALCO is geared to pursuing niche and boutique developments beginning with its land investments in Bonifacio Global City (BGC) as well as opportunistic joint venture developments. The company's investments include the Exportbank Plaza (previously Urban Bank Plaza), two properties within BGC's E-Square, which is the Philippine Economic Zone Authority (PEZA) area of the BGC, and a property along McKinley Parkway to be developed into a residential project. ALCO's only subsidiary is Urban Property Holdings, Inc. (UPHI), originally established as a 55-45 joint venture company between ALCO and PR Builders Developers and Managers, Inc. for the development of a housing project on a 331,760 square-meter property in Calamba, Laguna, or the Tagaytay Project. At present, UPHI has remained non-operational. Source: SEC Form 17-A (2008)