MANILA, Philippines — Golden Haven Inc., the listed memorial developer of the Villar Group, has changed its name to Golden Bria Holdings Inc. as part of its diversification into mass housing.

In a disclosure to the Philippine Stock Exchange (PSE), Golden Haven said its board of directors approved the change in its corporate name in a meeting last week.

Golden Haven said this was meant to provide the company flexibility in undertaking the expansion of the company’s business.

Last year, Golden Haven chairman Manuel Villar Jr. said the company was diversifying into mass housing through the acquisition of housing developer Bria Homes Inc. through a share swap transaction valued at roughly P3 billion with Bria Home’s principal stockholder Cambridge Group Inc.

This paves the way for Golden Haven’s foray into mass housing and allows it to utilize its land bank.

“The company believes the acquisition of Bria Homes Inc. will diversify its real estate business by entering into the mass housing market, accelerate growth and enhance profitability through the creation of additional revenue streams independent of its current business, allow the company to maximize the value of its land bank by providing other avenues for its utilization, and build shareholder value,” Golden Haven said.

Golden Haven is a fast growing memorial company which has launched eight memorial park developments covering a total area of over 66 hectares across the country.

The parks are in Zamboanga, Cagayan de Oro, Cebu, Iloilo, Bulacan, Cavite, Las Piñas, Pampanga and Nueva Vizcaya.

It made its debut in the local stock market in 2016.

Cambridge is owned by Fine Properties, also of the Villars.

According to its website, Bria has a total of 27 developments across some of the country’s most progressive towns and cities like Bataan, Pampanga, Bulacan, Cavite, Laguna, Rizal, Camarines Sur, Samar, Negros Oriental, Misamis Oriental, Bukidnon, Davao del Norte, Davao del Sur, South Cotabato, and North Cotabato.

This article first appeared on www.PhilStar.com