8990 Holdings to build P8-B Manila township

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MASS housing developer 8990 Holdings Inc. announced on Monday that is building a condominium township project worth more than P8 billion in Vitas in Tondo, Manila.

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In a press statement, the company said the project would house residential and commercial components. The project will consist of 13 residential buildings collectively known as 8990 Deca Homes Manila and a two-story mall, tentatively to be called DECAmall.

8990 Holdings said that besides the P8 billion it is spending for the construction of the 13 residential buildings, it will also be spending P300 million for the development costs.

The 12-storey residential buildings will offer 13,212 housing units that will come in studio, one-bedroom and two-bedroom type units, ranging in size from 22.95 square meters to 32.18 square meters.

It would also offer residents 2,226 parking slots.

“The condominium township project would have shopping, dining, and recreational facilities on top of the regular amenities that include parks, playgrounds, and basketball courts,” the developer said.

8990 noted that the project will sit on an 8.4-hectare complex that was acquired from Tondo Holdings Corp. and Euson Realty and Development Corp for P1.6 billion last year.

Meanwhile, the mass housing developer also announced that it is launching a similar project in Pasig City, specifically located along Ortigas Avenue extension.

This project will sit on a 13-hectare lot it acquired from Consolidated Tobacco Industries of the Philippines and Center Industrial and Investment Inc. for P2.2 billion in February last year.

The project will consist of 26 buildings that will offer a total of 24,720 housing units.

“Aside from residential buildings and a shopping mall, the Ortigas development project would also have two business process outsourcing oriented towers,” said 8990.

8990 Holdings noted that Megawide Construction Corp. will build the mid-rise residential condominium towers for both projects.

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