Ovialand expands Laguna portfolio with P2.3-B housing inventory
Mass housing developer Ovialand Inc. is bullish on Laguna province as it announced plans to roll out hundreds of new homes in San Pablo worth P2.3 billion.
Ovialand, a partnership between the Olivares family and property veteran Januario Jesus Atencio, announced the launch of Santevi, its third housing development in the progressive city.
“We have completed and turned over more than 1,000 housing units in the area of San Pablo, Laguna and the demand for our premium house-and-lot products continues to rise,” Pammy Olivares-Vital, president and CEO of Ovialand, said in a statement.
“This is because young families are able to envision their lives with the conveniences of city living but with the relaxing landscape of this city,” she added.
Ovialand is spending P850 million to develop Santevi, a joint venture with Japan-based real estate developer Kyushu Yaesu Co. Ltd.
It would offer 707 housing units consisting of single-attached, duplex and townhouse units.
“Santevi’s house design was inspired by the modern American houses seen on social media. We chose a clean and classic design, blended with function and space. Our kitchen is delivered with subway tiles that most young Filipinos imagine having in their dream home,” Olivares-Vital said.
It also plans to lure buyers with easy financing deals that allow clients to move into their homes within three to six months.
Ovialand said the project ups its total inventory in the area to over 2,100 units.
“The sale of properties in Santevi also allows us to move forward with our long-term expansion plans and to have a more optimistic outlook for the future,” said Olivares-Vital.
“Despite the current macroeconomic situation, we believe Ovialand is on the path to achieve a stronger financial position due to continued consumer demand from the properties it provides,” she added.
Ovialand generated P672 million in sales from January to June and it projects full-year revenues to hit P1.2 billion.
It earlier turned over 308 units across its developments in Batangas, Laguna and Quezon.
“I admit that the war in Ukraine and the rising inflation have been devastating news this year. But during times of fear and uncertainty, I realize that there is just no place quite like home,” Olivares-Vital said. “Therefore, we must continue and focus on making sure we deliver to all of our clients.” INQ
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