Ovialand aims to build 600 houses

HOUSING developer Ovialand Inc. is targeting to build 600 units in Southern Luzon this year in a bid to expand its market share.

“While it has been a bleak start to the year with the rate of Covid-19 infections, we continue to find silver linings—and we will remain committed to the Filipino families we serve by ensuring that we will deliver their brand new house and lots on schedule this year,” Ovialand President Pammy Olivares-vital said.

In addition she said that the company will also begin its “expansion plans to another regional center in the Philippines as we move our way slowly, but surely, into becoming a nationwide developer known for our brand and quality.”

Currently, the company is pursuing the development of Caliya in Candelaria, Quezon and Santevi in San Pablo, Laguna under joint ventures with Japan-based Kyushu Yaesu Co. Ltd.

Its other housing properties in Laguna include Sannera and Savana in San Pablo and Terrazza de Santo Tomas in Sto. Tomas.

Last year, Ovialand registered 90-percent revenue growth after raking in P900 million, which is equivalent to 433 house and lot units.

“Ovialand’s financial results for 2021 fully demonstrate the strength of our unique product offerings as it shows we are attuned to the needs of our clients. Our brand mission of ‘premier family living’ demonstrates that Filipino families can have access to beautifully complete homes in premier communities at an accessible price point, and our sales and revenues show that we have been successful in our objectives,” Olivares-vital said.

“We are humbled that we achieved 90-percent year-over-year growth in our revenues despite the challenges brought by the pandemic. This places Ovialand in a financially strong position to successfully pursue its long-term growth plans, such as expanding nationwide by 2030 and our planned IPO [initial public offering] by this year,” she added.

The housing developer is eying to raise as much as P1.5 billion from its IPO to fund expansion plans.