REAL ESTATE developer Ovialand, Inc. expects near-double growth in its net income this 12 months, on the back of strong demand for its premium-affordable housing projects across Luzon, an organization official said.
“Despite heavy rains, supply challenges, and a really energetic construction 12 months, we proceed to construct and deliver,” Ovialand Investor Relations and Compliance Officer Monica Ann V. Mendoza said during an event on Wednesday.
The corporate reported a net income of P507 million last 12 months, she said.
Across its Luzon portfolios, Ovialand constructed 770 latest housing units and turned over 645 units this 12 months.
“At once, we’re really specializing in our existing areas in Luzon because there remains to be lots of room to grow,” Ovialand President and Chief Executive Officer Pammy Olivares-Vital told reporters on the sidelines of the event.
Anara, the corporate’s latest project in Bulacan, could have 310 house-and-lot units, with turnover scheduled by the third quarter of 2026.
“We wish to be essentially the most trusted homebuilder within the Philippines, and trust is built on consistency, transparency, and aligning with the correct people,” Ms. Vital added.
In the primary half of the 12 months, Ovialand’s consolidated net income rose 37% to P420 million, while revenues increased 20% to P1.1 billion.
Ovialand’s current housing portfolio includes Seriya and Anara in Baliwag, Bulacan; Caliya in Candelaria, Quezon; Terrazza in Santo Tomas, Batangas; and Santevi, Savana, and Sannera in San Pablo, Laguna. — Beatriz Marie D. Cruz