Pueblo de Oro records stellar growth in 2017
Pueblo de Oro Development Corp. (PODC), a leading developer of residential and mixed-use projects in the Philippines, surpassed earnings expectations in 2017 on the back of its strong performance.
Pueblo de Oro reported that it grew its sales revenue by 38 percent in 2017, and its net income by 130 percent during the same period.
The company’s sustained success and growth in recent years can be largely attributed to Pag-Ibig loan take-outs, with Pueblo de Oro enjoying a strong partnership with the Home Development Mutual Fund (Pag-Ibig). From 2015 to present, Pueblo de Oro’s take-outs grew by 42 percent yearly. This is why more developers are turning to Pag-Ibig.
This mutually beneficial partnership was evidenced by Pueblo de Oro’s recognition from Pag-Ibig as Top Developer in Visayas in terms of Take Out Loan Value for five consecutive years since 2014. The company has consistently placed among the Top 5 best performing developers in the region.
The encouraging figures confirmed the company’s clear focus on residential property strategy. It secured further growth potential in the financial year by expanding and improving its portfolio. Pueblo de Oro’s latest acquisitions and collaborations allowed it to remain optimistic that it will continue this growth course in 2018.
Economic housing
Pueblo de Oro is also helping address the growing demand for economic housing projects.
With a housing backlog of 6 million units in the country and a projected 10-million backlog by 2030, the housing sector must work quickly to produce enough decent homes to make a dent.
To answer this demand, Pueblo de Oro is constantly looking for additional expansion opportunities to take advantage of the strong residential house and lot market, and is offering new and improved housing models which buyers will be proud to own.
From the time Pueblo de Oro began its expansion projects in Luzon, starting in San Fernando, Pampanga, the P900,000 pre-selling price for townhouses had already increased by 59 percent in just five years. The value of middle-income duplex appreciated by 60 percent to P1.9 million from P1.2 million in the same period.
One reason for the upward trend is Pueblo Pampanga’s location, which is becoming more desirable because of its proximity to modern conveniences like the SM mall, the work place, schools, transportation hubs and other attractions.
The company’s second foray in Luzon is Pueblo Batangas. The community is just right off the exit of Sto. Tomas and passes along the South Luzon Arterial Road (STAR). The serene community has the majestic view of Mount Makiling as its backdrop and, just like the Pampanga project, enjoys a similar pattern with price gains of 47 percent from 2012 to date.
In Mactan, Cebu, the townhouses appreciated by 54 percent to P1.3 million from only P800,000 in just four years. The strong demand can be attributed to the residential community’s breathtaking views of the Mactan Channel and Pilipog River, and accessibility to the Cebu-Cordova link expressway.
Coincidentally, the 360-ha Pueblo de Oro township in Cagayan de Oro continues to be a growth driver in North Mindanao with residential land values becoming three times more valuable since it was launched in 1996, while land values at the Pueblo Business Park appreciated by 33 percent in just one year.
Positive outlook
Building on its growing portfolio, Pueblo de Oro has positive expectations in the near future and plans to further expand its position as a market leading, listed company for residential property privatization in the Philippines.
In Malvar, Batangas, a 40-ha residential neighborhood will be constructed and will be part of a bigger 250-ha live-work community. With the Asean integration, it is expected that more multinationals and business process outsourcing companies will come in, spurring growth in provinces such as Batangas.
Company history
Pueblo de Oro was established in 1995 to develop a 360-ha township project in Cagayan de Oro. This flagship project was designed by Louis Berger International (USA), a renowned expert in regional and urban planning with projects worldwide.
The Pueblo de Oro Golf and Country Club Inc. was formed in 1996 to develop an all-weather championship golf course in CDO. Designed by Robert Trent Jones Jr., it is rated as among the top golf courses in the country.
With over 20 years of experience in residential and mixed-use projects, Pueblo de Oro has replicated its property development success in key cities.
The company first expanded in Mactan, Cebu, with the opening of La Aldea Buena in 2004 and La Aldea del Rio in 2007, both of which were completely sold out as a result of brisk sales. Pueblo de Oro is currently selling La Aldea del Mar, Park Place I and Park Place II in its 26-ha masterplanned community in Mactan.
In 2010, Pueblo de Oro had set its sights on Luzon, starting in San Fernando, Pampanga. This 30-ha masterplanned development offers an exclusive collection of three private and gated villages. After two years, Pueblo de Oro Batangas was launched.
With its gold standard projects, Pueblo de Oro significantly improves community living in the area, transforms the urban landscape, and continues to boost the local economy with its spate of developments in major cities and a growing number of provinces.
