MASS housing developer 8990 Holdings Inc.
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.
Mass housing developer 8990 Holdings Inc. is planning to launch 8 new residential projects this year amounting to 14,010 condominium units and house and lot packages, 21 percent more than the 11,574 units launched in 2014.
In a presentation, 8990 president Januario Jesus Atencio said three projects, consisting of 5,380 units, will be residential condominium developments, while 5 developments or 8,630 units will be from its traditional horizontal projects.
In contrast, 8990 launched 12 projects last year consisting of only two condominium developments with 3,948 units while the 10 horizontal projects amounted to 7,626 house and lot packages.
Atencio said their vertical projects this year will include Urban Deca Homes Muntinlupa which will be launched in April. It will be a medium rise building developed over a 1.8 hectare lot with 3,240 units.
The firm will then launch in June the Urban Deca Homes Quirino which will be another MRB to be developed on a 6,000 square meter lot in Davao City. To be launched in December is the high-rise Urban Tower Yakal in Makati which will have 1,600 units on a 1,000 square meter lot.
Source: January 2015 - MANILA BULLETIN
8990 Holdings Inc. has earmarked P850 million to build its first medium-rise condominium complex in Muntinlupa City, offering affordable residential options close to the Alabang central business district (CBD).
In a press statement on Thursday, 8990 Holdings said the project – called Urban Deca Homes Campville project located at Km 23 East Service Road – would consist of 12 four-storey buildings which will bring to the property market additional 1,024 residential units. The first of the 12 medium-rise buildings (MRBs) is expected to be completed and fully turned over to homeowners by August this year.
While the project is expected to be completed in just 24 months, the target is to deliver 488 units worth P414 million this year.
8990 president and chief executive officer Januario Jesus Atencio said: “The project hopes to attract residents south of Manila who are presently renting but aspiring to become primary asset owners, as well as cater to the growing needs of workers of BPOs (business process outsourcing) in the Alabang area and overseas Filipino workers desiring to own a residence in that area of Metro Manila.”
The MRB condominium complex will have elevators, a multipurpose hall, a swimming pool, basketball court, children’s park as well as parking for 139 vehicles and 147 motorcycles.
Each unit will have a footprint of about 25 square meters and feature kitchen countertop, sink, overhead cabinets, tiled bathrooms with bath fixtures including shower, water closet, and lavatory with faucet. The painted and tiled finished units also include aluminum windows with clear glass. They will be all equipped with smoke detectors and sprinkler systems.
Source: June 2015 - 8990holdings.com
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