8990 Eyes 8 New Projects in 2017; to Offer Low-Cost Condos in NCR

Listed mass housing developer 8990 Holdings Inc. targets to launch at least eight projects next year, as it aims to double profit and revenues.

“Next year will be the year that 8990 becomes a force to reckon with in the National Capital Region condominium development. We will now be offering condominium in NCR at low-cost housing prices,” 8990 Holdings president Januario Jesus Atencio told reporters.

Atencio said these include high-rise residential buildings in Tondo, Manila and Ortigas Extension in Pasig City with a total of 35,000 units.

He said the company has also condominium projects in Mandaluyong City and Cubao in Quezon City and a house-and-lot project in Commonwealth Avenue in Quezon City.

It also plans to invest PHP3 billion to develop a 3.4-hectare property in Las Pinas City into medium-rise housing project over the next three to four years.

“I can do as much as PHP10 billion next year in NCR alone,” he added. “2017 will be known as a year that 8990 Deca Homes come into NCR in a big way.”

Atencio said the company also aims to launch more projects nationwide next year, including developments under the Deca Homes brand in Bacolod, Iloilo and Davao.

“By 2017, our three projects in Davao will finally be on stream. So it’s going to be a good year,” he noted.

In 2016, Atencio is optimistic about hitting a 24.35-percent increase in gross revenues to PHP12 billion from last year’s PHP9.65 billion.

He said sales are robust as 14 new projects are starting.

“We still have a shot at meeting our guidance because there are some projects that we did not expect to contribute this year to revenue but recently they did,” he added.

Atencio is referring to Deca Tower project in EDSA which the company expects to generate revenues by the end of the year, way ahead of schedule. (PNA) SCS/LDV