Ovialand Inc. is optimistic about meeting its yearend projection of P1.2 billion in revenues, its president Pammy Olivares-Vital said yesterday.
This after the company delivered 308 house-and-lot in the first half of the year to generate P672 million in revenues.
The amount is an increase of 43.92 percent in terms of units and 60.95 percent in terms of sales revenues from last year’s 214 units and P417.5 million revenues.
“Ovialand’s financial results for the first half of 2022 demonstrate the strength of its franchise despite persisting macroeconomic headwinds such as an elevated inflation rate, the surge of COVID-19 infections in January, and continued constraints in supply chains,” said Olivares-Vital in a statement.
Ovialand’s housing developments are located in the South Luzon region, specifically in Laguna and Quezon. The company eyes to expand its operations, such as building properties nationwide by 2030 and conducting a public listing under ideal market conditions.
“In light of this goal, Ovialand is targeting to expand its land bank to 200 hectares from 43 hectares in the next five year and increase its house-building capacity to 3,000 units by 2025,” Vital said.
“Our recent financial performances motivate us to continue growing our operations and deliver the Premier Family Living experience to Filipinos. We are confident that we can successfully navigate changes in macroeconomic conditions given our continued commitment to providing every Filipino the promise of Premier Family Living,” she added.
