Matvel Holdings Corporation was established on November 3, 1994 in Cebu City. Its founder and Chairman, Mateo H. Velasco, ventured into the financing business after he sold his furniture exporting company, Orient Design. During the Asian Financial Crisis in 1998, the company ventured into real estate development.
 
The company’s first real estate project is the 4- hectare high end Garnetville Subdivision which is located in the hills of Nasipit, Talamban,Cebu City. The company’s first commercial development project, the Talisay South Central Market was constructed on 2004. Situated at Hiway Lawaan III, Talisay City,Cebu. Its new business name is now South Central Square, which is also the new headquarters of Matvel Holdings Corporation.
 
In 2008, the Company had sealed a deal with the Department of Transportation and Communication under its Public- Private Partnership (PPP) Program, more specifically with the Land Transportation Office (LTO). Currently, we have four existing contracts with the Agency. To this date, Matvel Holdings Corporation operates Drug Testing and Medical Clinics, Emission Testing Centers, Insurance Offices in Talisay City, Cebu, Mandaue City, Tagum City, Davao del Norte, Naga City, Camarines Sur and Dumaguete City.