CitiHomes Builder and Development Inc.

Our Company CitiHomes Builder and Development, Inc. (CitiHomes) is a domestic corporation established on March 1983 to engage in the business of real estate development. Our major business activities include the acquisition of raw lands, the development of the lands into residential and commercial subdivisions, the sale of lots, house and lots, and commercial units, and the provision of a wide range of financing for our customers. CitiHomes has completed the following residential subdivision projects: CitiHomes Las Pinas, Barangay Manuyo, Las PinasCity (1993) CitiHomes Regency, ParanaqueCity (1997) CitiHomes’ on-going projects include the following: Northgate Park Executive Homes I and II, Santo Cristo, San Jose del Monte City, Bulacan (10.5 hectares) Northgate at Classica Subdivision, Santo Cristo, San Jose del Monte City, Bulacan (4 hectares) Northgate at Sarmiento Homes, San Jose del Monte City, Bulacan (8.3 hectares) Summerfield Subdivision, Barrio Osorio, TreceMartiresCity, Cavite CitiHomes at GrandPlaza, Imus, Cavite Our company has been in operation for the past twenty three (23) years with our affiliate company Masaito Development Corporation (MDC) and, in many circumstances, acted as a single entity. Realizing then the need to focus on the PhP0.60M to PhP2.0M property market segment, the “New CitiHomes” spun off in the middle of 2006 to concentrate its efforts of acquiring, developing, selling, and financing low- to medium-cost residential projects.