MASS housing developer 8990 Holdings Inc. will launch next year 15 new projects that will generate P12 billion in sales and help meet the growing housing demand.
8990 Holdings President Jesus Atencio 3rd enumerated the projects as: the residential condominiums in Tondo, Manila and Pasig City, two medium-rise building (MRB) developments in Imus, Cavite, three MRB projects in Cebu, two horizontal projects in Sta. Barbara, Iloilo; four horizontal projects in Davao, a housing project in Bacolod, and a terrace housing project in Marilao, Bulacan.
“Because there is so much available housing finance, you will see a shift from renters to primary home owners.” Atencio told reporters.“As Filipinos become more financially literate, they will understand that owning real estate property is one of the best things you can do as an investment.”
Atencio said they expect to spend P5.5 billion in investments to complete the projects, with about 14,000 units over the next two years.
He added sources of funds for projects are a combination of internally generated funds and equity and bank financing.
Earnings of 8990 Holdings grew 11.8 percent to P3.16 billion from January to September this year, improving from P2.83 billion in the same period last year.