Mass housing developer 8990 Holdings Inc. has acquired vast tracts of land which can bring in Php165 billion in potential sales from 78,352 housing units in the next seven to 10 years.
8990 president and CEO Anthony Vincent S. Sotto said the company expects to sustain its growth over the long-term with its current landbank of 670.91 hectares, which is currently appraised at P41.2 billion.
Luzon projects will account for the biggest chunk of 8990 sales at P93 billion to be followed by Visayas with P67 billion and Mindanao, P5 billion.
Soto said the company had already completed a total of 81,700 units from 65 projects in more than a decade of operations, with an occupancy rate of more than 80 percent.
“In its 17 years of existence, I’m proud to say 8990 really has shown its commitment to housing every single hard-working Filipino. When we looked at our demographic, its apparent that we also provide accessible housing to challenged demographic groups who are mostly single undergraduate females, living outside of metro cities, are sometimes overseas Filipino workers and earning below P55,000 a month. And this is made possible by our partnerships with institutions that make financing easier for our buyers.” said Sotto.
Since 2016, 8990 has been able to successfully migrate P17.7 billion to the Home Development Mutual Fund.