Mass housing developer 8990 Holdings Inc. said it plans to launch three residential projects in the second half of the year with a projected sales value of P14.5 billion.
8990 Holdings president Willibaldo Uy said in a recent interview the three new projects are located in Meycauyan (Bulacan), Talomo (Davao) and Leganes (Iloilo).
Uy said the company continued to aggressively launch projects as demand was strong not only in Metro Manila but also in the provinces.
“Everything has been good lately. The strong demand for Metro Manila projects is one evidence we feel that it is going to help us meet if not surpass our targets,” Uy said.
“But even provincial sales have been good. So whatever we are doing, we will just keep on doing it because we feel we are doing things right,” he said.
The Bulacan project will offer 5,000 residential units with total sales value to P8 billion while the Davao project will offer 3,200 units worth P4 billion.
The company is also launching a new project in Iloilo that will offer 2,100 units with a total sales value of P2.5 billion.
The mass housing developer saw its net income grow 18 percent in the first half to P2.82 billion from P2.39 billion a year ago as consolidated revenues climbed 17 percent to P7 billion.
The property firm said it delivered 4,934 units in the first half, up 19 percent year-on-year.
Sales from high-rise buildings contributed 42 percent to total revenues, followed by horizontal projects which accounted for 35 percent.
It said that on a regional basis, 67 percent came from Luzon, 23 percent from the Visayas and 10 percent from Mindanao.
Uy earlier disclosed plans to spend P1 billion to acquire a 180 to 200-hectare property in Pampanga which would be developed into mass housing projects similar to Urban Deco Homes Tondo and Urban Deca Homes Ortigas.
The company had a landbank of 712 hectares as of June.