Khazanah is a Cornerstone Investor in Philippines Low-Cost Developer
Malaysian sovereign wealth fund Khazanah Nasional Berhad has purchased nearly an 8% stake in 8990 Holdings Inc for RM 215 million (US$ 65.93 million). 8990 Holdings is an unlisted company that is a property developer in the Philippines. Through its sovereign wealth enterprise, Pasir Salak Investments Ltd, Khazanah agreed to be a cornerstone investor before 8990 Holdings’ upcoming share listing in the Philippine Stock Exchange.
8990 Holdings is a developer in socialized and economic housing, catering toward lower incomes in the Philippines. 8990 Holdings has sold over 26,000 housing units.
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