Johndorf rakes in P800M from Carcar, Mactan

Johndorf Ventures Corp. ( JVC) generated P800 million as it sold 70 percent of the townhouses built for Evissa and Tierra Nava subdivisions in the first half of the year.

The company is set to launch four more projects in Cebu, Davao and Cagayan de Oro in the second half of 2017, for an accumulated investment of P2.5 billion, it said in a press statement.

The townhouses come from three tranches developed in each project for middle-class families that the company released since it launched both subdivisions early this year, according to Michele D. Chiu-Bacungan, sales and marketing manager.

“We will open the last tranches in both projects soon,” she said.

JVC broke ground in late February for Evissa, a three-hectare property within Johndorf Communities, a 24-hectare township in Mactan of Asian-themed townhouses priced at an average of P1.7 million each.

The company followed it up a month after with Tierra Nava in Sitio Dapdap, Poblacion III, Carcar City, with townhouses ranging from P950,000 to P1.4 million.

In just four months, both projects sold out 650 townhouses, with Evissa generating P500 million in sales, while Tierra Nava yielded P300 million, Bacungan shared.

“It’s another feat for the company, as we repeated our success with Astana, Navona and Portville Prime in Lapu-Lapu City,” she added.

Brisk sales by the brokers complemented JVC’s uniquely applied construction procedures that hasten the development, a system developed after 30 years of building quality homes and livable communities, she noted.

“The brokers and their agents have always been pleased with our projects as our system yields for them faster and earlier returns,” she pointed out.