Yu-Martinez group eyes P10.4B from sales of 8990 Holdings condo in Cubao
Property

Yu-Martinez group eyes P10.4B from sales of 8990 Holdings condo in Cubao

Mass housing developer 8990 Holdings Inc. expects to generate P10.4 billion in sales from the 45-storey Urban Deca Tower Cubao.

Located along EDSA southbound corner Mayor Ignacio Santos Diaz St, the project will have 4, 961 studio units priced at an average of P1.9 million with affordable payment schemes.

Targeted towards first home buyers, Urban Deca Tower Cubao has allocated 2,859 square meters of commercial space for the benefit of its residents.

The project broke ground in February last year before the lockdowns started.

8990 expects to sustain its growth trajectory following a 17 percent hike in net income in the first quarter to P1.6 billion. Revenues during the period grew 29 percent to P4.48 billion as the number of units sold increased by three percent.

“This is definitely a positive sign that many Filipino families are still looking at a better future and this inspires us to continue building communities that offer quality living at highly affordable prices. The same holds true for our new Urban Deca Tower Cubao project,” said Mariano Martinez Jr., 8990 Holdings chairman.

During the first three months, 8990 delivered a total of 2,634 new homes although housing production fell 50 percent due to the community restrictions imposed to curb the spread of COVID-19.

Martinez said the company remains confident about the strength of the mass housing segment.

 

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