8990 likely exceeded 2015 revenue target

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Mass housing developer 8990 Holdings Inc. likely exceeded its revenue target for 2015, its top official has estimated.

8990 Holdings President and Chief Executive Officer Januario Gregorio Atencio 3rd told reporters in a recent interview that the firm estimates to have reached its P9.5 billion-revenue target for 2015 from its housing projects alone.

This, Atencio pointed out, does not yet include the firm’s top-line non-housing revenue, which was estimated to have reached P0.2 billion in 2015.

Then, 8990 Holdings’ total revenues for 2015 could be P9.7 billion, Atencio said, exceeding the firm’s revenue target for the year of P9.5 billion, even the target growth rate of 20 percent.


“That comprises a 27-percent growth rate from last year. I only promised 20,” he stressed.
For 2016, Atencio said the firm targets to grow another 20 percent, as it aims to reach P12 billion in total revenues.

Meanwhile, the Home Development Mutual Fund or Pag-IBIG recognized 8990 on Tuesday as the number-one developer for end-user finance.

Atencio noted that in 2015, 8990 was able to deliver P2.4 billion worth of housing loans to Pag-IBIG.

For this year, he said the firm aims to give P10 billion to Pag-IBIG, from sales and contracts to sell for 2016.

“I’ve committed to Pag-IBIG Fund that I will try my best to deliver P10 billion this year,” Atencio said.

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