Monday, January 5, 2015

8990 Holdings to raise 8 new projects

Known for its brand of economic housing developments dubbed DECA Homes, 8990 Holdings Inc. recently issued eight new additions to its portfolio for this year: five horizontal developments, two mid-rise buildings, and one high-rise condominium, spread out over Davao, the National Capital Region, Cavite, Cebu, and Rizal.

Company president Januario Jesus Gregorio Atencio III expressed that 8990 Holdings plans to launch an average of over 10,000 housing units per annum. 

Last year yielded 12 projects, with 11,574 units overall. Consisting of horizontal projects, with one mid-rise and one high-rise residential tower, the projects proved to be successful, with up to 43 percent of units having been sold as of mid-December 2014.

Meanwhile, the eight developments slated for 2015 consists of 14,010 residential units spanning 79.4 hectares of land. The company stated that the projects are pegged to draw from funds raised through a corporate retail bond issue in the first half of 2015.

With 338 hectares expected to yield 89,850 units, the company has almost hit its targeted 500 hectares of land bank by the end of 2014, according to Atencio. The acquisition reportedly costs up to P25 billion in residential projects.

To date, 8990 Holdings has 18 projects slated for completion over a five-year span. The developer seeks to rake in up to P66 billion in revenues from these developments.


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