Four-year-old mid-market property developer Elanvital Enclaves Inc. is zooming in on the region of Cavite, Laguna, Batangas, Rizal, and Quezon (Calabarzon), its top honcho disclosed over the weekend.
In a press conference, Elanvital Chief Executive Officer Jacinto Ng Jr. said the company is focused on developing projects at the fringes of the national capital region, particularly, in the Calabarzon area.
“From Elanvital’s point of view, the locations will generally be anywhere where the mid-income market will accept,” said Ng, who also owns Asia United Bank and Republic Biscuit Corp., maker of the popular local biscuit brand Rebisco. “So, of course, in levels of priority, there will always be a partiality to the Calabarzon area, simply because the heart of the middle-income market in the Philippines is in Metro Manila.”
Founded in November 2011, Elanvital targets the middle-income market, especially the overseas Filipino workers, employees of the booming business process-outsourcing sector, and their families.
Ng estimated that the population of Metro Manila and Calabarzon combined accounts for around 30 percent of the country’s population, which is why the company sees more opportunities to build projects in the said areas.
“Part of the reason we are very focused on the Calabarzon area is that there’s opportunity there really—that’s where the market is,” Ng stressed.
He said Elanvital is not closing its doors, though, to developing projects in other regions outside Metro Manila.
“Do we look for properties outside? Yes, we do from time to time. But the opportunities to go there is not very high,” Ng said.
Ng also raised the possibility of the AUB-Rebisco Group’s property unit developing projects in Cebu, but noted that this would not be in the near future.
As to the prospects of entering joint ventures with other developers, Ng said the company prefers is to develop its own projects, but added, “There will be times when we will try.”