Ever-Gotesco diversifies to agri-tourism, changes corporate name

Publicly-listed mall operator Ever-Gotesco Resources and Holdings Inc. is diversifying into agri-tourism and bamboo industries as it undergoes a reorganization.

In a statement, Ever-Gotesco, the operator of the Ever-Gotesco Commonwealth Center and the Ever Gotesco Ortigas Complex, said its board of directors is changing the company’s name to Everwoods Green Resources and Holdings Inc. and approved the increase in its authorized capital stock to up to P7.5 billion to raise capital for its planned reorganization.

The reorganization is in line with the company’s shift to agri-tourism and the bamboo industry, banking on the resurgence of the said industries post COVID-19.

As part of its plan to shift to agri-tourism, Ever-Gotesco said it is now operating its agri-tourism resort in Batulao, Batangas, with growth gearing toward a “green vision of sustainability.”

Meanwhile, the company’s bamboo project will be a new investment which aims to generate growing recurring income in the next few years.

Ever-Gotesco said a bamboo nursery will be established within its property and it will contract farmers to ensure exponential and inclusive growth. 

It added that a processing facility will be put up in Batangas to employ locals to manufacture bamboo furniture and decors.

These products, in turn, would be exported to capture a slice of the billion dollar industry in the world market, according to Ever-Gotesco.

Ever-Gotesco is a company led by businessman Antonio Tiu as its president.

Ever-Gotesco was incorporated on September 27, 1994 as a holding company and started commercial operations on December 1, 1995.

It was previously engaged in building shopping malls and leasing them out to commercial tenants.—AOL, GMA News