Ovialand Inc., a pioneer in the premium affordable segment of the real estate market, is on track with our five-year growth strategy that was launched in 2021, according to its president and chief executive officer Pammy Olivares-Vital.
“Our strategy involves a regional growth approach,” Olivares-Vital said.
Last year, Ovialand began itsr entry to the Bulacan region that will cater to the Northern Metro Manila market.
“We continue to be bullish with our growth so that we can support the demand for premium quality housing at an affordable price point for our growing economy,” Olivares-Vital added.
“Each premium quality home we turn over represents a more stable and promising future for our clients, and we are excited to carry out this mission throughout the country in the years to come.”
Ovialand announced an increase in its income for 2022 – reflecting the continued demand from clients for the Premier Family Living experience the company provides.
The company’s net profits for 2022 were recorded at P227 million, a 37 percent increase from its 2021 net profit of P166 million. This is also a three-fold increase from the P76 million in net profit recorded by Ovialand in 2020.
Ovialand has seen consistent increases in its real estate sales, with its 2022 revenues growing by 64 percent year-on-year to P1.4 billion. The company has grown its revenues by 300 percent in the past three years on the back of rising demand for its projects.
Revenues of the company are based on houses turned over and with financing taken out from partner institutions.
“We started 2022 with a target of P1.2 billion in revenues, but we exceeded this to almost P1.4 billion as the year ended. Midway through the year, we decided to speed up our construction due to higher-than-expected market demand for our premium affordable homes,” said Olivares-Vital.
“While global and local economic conditions remain challenging for everyone, we remained persistent with our targets and focused on our strength of giving Filipino homebuyers the value for their money on houses that are turned over within three to six months,” Olivares-Vital said. “This makes our product unique and one-of-a kind since we are the fastest to turn over to our clients.”
Ovialand continued to invest in growing its portfolio as its total assets grew to P1.6 billion in 2022 from P1.1 billion in 2021.
