Wednesday, January 28, 2015

P1.1-B expected from 8990 Holdings’ new township

Davao-based mass housing developer 8990 Holdings Inc. is expecting P1.1 billion in potential sales from its new township, Deca Homes GenSan Bayview.

Situated in General Santos City, the township consists of 1,271 low-cost house and lot units spanning 80 to 150 square meters, with each unit priced at P450,000 to P750,000. Amenities include parks, playgrounds, a church, a sports area, and various facilities. 

The development spans 18.82 hectares out of the company's land bank in the city, which is currently at a total of 67.53 hectares. Construction is set to begin during the first quarter, with up to 500 units pegged for completion and turnover within the year. The project costs P400 million in total, according to the firm.

"We are happy about opening our new branch in General Santos City because it allows us to expand our reach to new areas and extend our housing products and services to more working class Filipinos," said Januario Jesus Atencio, the firm's president and CEO, in a press briefing.

"We're only in six areas. This is in line with the company's vision on providing solid and affordable housing in a lot of areas," said Atencio.

"GenSan is also a location where we don't have a presence. With this, we are expanding to other areas [to] establish new frontiers and branches where we can establish the Deca homes brand."

The GenSan township is pegged to capture the local market, according to Atencio.

"I only expect 20 percent of sales to come from OFWs, and the rest, from the working, middle class gainfully employed in the city," Atencio had stated.

To date, the firm is set on increasing its income, revenue, and residential portfolio by 20 percent every year.

"We're bullish about prospects in the housing sector in the next few years," said Atencio. "Mass housing will be another cornerstone of economic growth, connecting to the boost in the infrastructure sector."



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