Ovialand Inc. expects to generate P4 billion in revenues until 2023 as it welcomes a new investor into the company.
The Laguna-based developer is set to give Januarius Holdings Inc., a 13- percent equity interest in Ovialand that can increase to 20 percent in three years.
The value of the transaction was not disclosed.
Januarius Holdings is the investment arm of Januario Jesus Atencio and Ovialand marks his return to real estate since retiring from 8990 Holdings in 2017.
Ovialand’s P4-billion projected revenues will come from its projects in Southern Luzon such as Sannera and Savana in San Pablo, Laguna as well as Cailya in Candelaria, Quezon.
It currently has a landbank of 32 hectares.