8990 Holdings to Earn P4.4B From Tondo Development
Manila, Philippines—Property developer 8990 Holdings Inc. continues to see a strong demand from its largest development in Metro Manila, the 8.4-hectare, 13-building development Urban Deca Homes Manila, in Tondo, which is projected to earn an approximately P4.4 billion in revenues by the end of this year.
In the first quarter alone, the project brought in close to P1 billion in revenues.
Thus far, its sales reservation is at 1,842 units.
The company expects to deliver about 3,200 units by December 2018.
Eyeing completion in 2020, the company will spend about P8 billion to deliver a total of 13,000 units valued at P21 billion.
“Once our buyers saw that buildings are already nearing completion, we noticed a significant jump in our sales,” said 8990 President & CEO Willie Uy in a statement. “We’re certain we will see this trend continue as we roll out more units to meet the strong demand for housing in the Tondo area.”
Currently, another eight buildings are on the rise, on top of the four buildings that will be finished this year.