MANILA – Private investment firm Januarius Holdings Inc. has partnered with Laguna-based property developer Ovialand, Inc (OLI) that expects to book PHP4 billion in revenues over the next three years until 2023, as it ramps up housing developments amid the pandemic.
In a virtual press briefing Thursday, Ovialand president Pammy Olivares-Vital said they are currently building 500 to 600 housing units a year at a price range of PHP2.2 million to PHP2.8 million, and target to increase these to 1,000 units next year.
“These are all horizontal house and lot developments...Within five years, we plan to raise this to around 4,000 units a year and in the 10th year or 2030, we are going to be looking at 8,000 to 10,000 units annually,” she said.
Vital said the company aims to expand its footprint to become a nationwide player in real estate development.
“We are expecting to open our first regional development in the area of Visayas in around 2024 to 2025. We intend to start our township communities as well. We are also intending to venture into four-storey mid-rise buildings in more congested areas of Metro Manila. The vision is to bring the premier family living in a vertical space so that’s where we want to go, that’s where we intend to go in the next 10 years,” she added.
With a current land bank of 32 hectares, OLI projects are concentrated in Southern Luzon with projects such as Sannera and Savana in San Pablo, Laguna as well as Cailya in Candelaria, Quezon.
Meanwhile, Januarius Holdings chairman and chief executive officer Januario Jesus Atencio said under the partnership agreement, his private investment firm can own as much as 20 percent of the deal in three years.
Atencio said he has 13 percent equity stake in the company.
“You have a reason to be worried about investing if your timeframe is short-term because (it) is not clear. But if your investment horizon is long, then you know that against (challenges) like the pandemic, this too will pass,” he said.
Atencio was the former chief executive officer of mass housing developer 8990 Holdings Inc.
Vital said with Atencio at the helm of Ovialand, going public is “definitely something that we can seriously consider.”
Both Januarius Holdings and Ovialand are confident the Philippine economy will bounce back. (PNA)