NEW ALLIANCE FORMED
Ovialand expands footprint in S. Luzon
Ovialand Inc. announced a new joint venture with Japan-based Kyushu Yaesu Co. Ltd. , a wholly owned subsidiary of Saibu Gas Holdings Co. Ltd., that will expand its footprint in Laguna.
The strategic partnership for Santevi is Ovialand’s second joint venture with Kyushu Yaesu after Caliya.
This project will comprise 810 house and lot units in San Pablo, Laguna and will initially cover 10 hectares of land.
Ovialand will invest P850 million in Santevi, which is its third housing development project in San Pablo, Laguna. The first project was called Sannera, with a total of 840 units and was completed in four years, and the second project was named Savana, with a total of 490 house and lot units.
Overall, Ovialand has created an inventory of 2,300 house and lot units in San Pablo, Laguna in just four years.
“We are looking forward to expanding our market share in the South Luzon region given the potential for growth,” said Pammy Olivares-Vital, Ovialand president, citing data from the Bangko Sentral ng Pilipinas which showed South Luzon comprises 33 percent of the national GDP and holds 25 percent of the total housing demand in the country.
Vital said Ovialand has seen sustained customer demand from its developments in San Pablo and as a result, “we were encouraged to pursue the development of Santevi to reach more customers who are looking for a house that provides the best value for their money.”
“During this pandemic, we have seen a surge in sales from Metro Manila-based housing buyers who are looking for more space and value-for-money options.,” Vital added.
Ovialand’s first joint venture with Kyushu Yaesu was signed in July 2019 for the development of Caliya, which has been on time and as scheduled despite the pandemic.
