Thursday, December 8, 2016
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Roxas & Co. to boost projects in tourism centers

Publicly-listed Roxas & Co. Inc. is beefing up its presence in tourism centers around the country, expecting government investments in places like Batangas, Davao and Palawan to lead to higher sales.

Speaking at the sidelines of the firm’s annual shareholders’ meeting Wednesday, the Roxas group’s real estate arm said low interest rates and improved consumer confidence would also help boost sales for the company’s mid- to high-end home developments.

“There’s demand for houses all over the country,” Roxas & Co. chairman and CEO Pedro Roxas told reporters.

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He said the company currently has P300 million to P400 million worth of homes in different projects around the country, particularly at the Orchards in Balayan, Landing Townhomes in Nasugbu, and the Anya Resorts and Residences in Tagaytay.

Most of these homes, he said, would likely be sold within the next three years as demand for new houses remains robust, supported by overseas Filipino worker remittances and low borrowing costs.

At the Anya development in Tagaytay, the company’s high-end residential project that also features a boutique hotel for tourists, over 85 percent of available homes have already been sold, Roxas said.

At Nasugbu, less than 40 percent of homes have been sold, he added.

TAGS: House building, Philippines, Real Estate, Roxas & Co., Tourism
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