MANILA - Real estate developer Arthaland on Thursday said it was on track on to meets its target of growing its portfolio five-fold to around 550,000 square meters by 2022.

Arthaland is in the final stages of acquiring 2 more properties in Manila and Cebu, vice chairman and president Jimmie Gonzalez told ABS-CBN News.

"In a sense we've got the properties, we've acquired them already, developing them....It's increasing our portfolio 5x, and yet we are doing it in a measured way, we are not over-borrowing, our debt to equity ratio is low at just 0.8," Gonzales said.

Gonzalez added that while the government's infrastructure push is causing a shortage in skilled workers, property companies benefit from improved accessibility.

Arthaland has a project beside CALAX (Cavite-Laguna Expressway), he said.

Century Pacific Group's property arm raised P1 billion from the offer of Series C preferred shares listed on the exchange Thursday.