REALTOR 8990 Holdings Inc. reiterated its plan to generate as much as P155 billion in revenues in the next seven to eight years, betting on its 718 hectares of landbank.
Of its landholdings, 436 hectares are in the Visayas region, followed by Luzon at 197 hectares and Mindanao with 86 hectares, the company said.
“With a strong pipeline of affordable housing projects in the near term, the company’s revenue goal underlines our commitment to sustainable growth and success,” said Anthony Vincent Sotto, 8990 chief executive officer.
Last year, the company sold 12,679 affordable homes, up 13.8 percent from 11,145 units sold in the prior year.
Of the 12,679 units delivered, the National Capital Region (NCR) has the largest share representing 34 percent.
Iloilo and Bacolod combined brought in 23 percent, followed by North Luzon and Davao at 16 percent each, and Cebu/Ormoc at 9 percent. GenSan’s contribution remained at less than 1 percent.
Profit, however, dropped 10 percent to P6.9 billion from the previous year’s P7.7 billion, with revenues higher by 5 percent to P22.7 billion from P21.6 billion.
The company said gross margins tightened to 44 percent from 50 percent, despite a “strong market reception to affordable housing projects in Metro Manila.”
