8990 HOLDINGS, Inc. said that it will be launching two new projects this year, in Quezon City and Pampanga, which it expects to generate P6 billion each apart from its pipeline projects for the coming years.
“Both of these projects would bring P6 billion each in revenues once completed,” 8990 Holdings President Anthony Vincent Sotto said during the company’s annual stockholders meeting on Monday.
The project in Commonwealth, Quezon City will have four high-rise buildings while the one in Pampanga will be a horizontal development situated on a 29-hectare property.
The company has several ongoing projects, including its Urban Deca Homes in Marilao, which will have 3,780 units; and Urban Deca Homes Banilad in Cebu, which will have 3,264 units. Both are expected to be completed by 2023.
In 2024, 8990 Holdings expects the completion of its 4,961-unit Urban Deca Homes Cubao, which has yet to start construction; Deca Homes Leganes in Iloilo, which will have 3,054 units; and Deca Homes South Bacolod, with 7,067 units.
In 2025, the company expects the completion of its Deca Homes Meycauayan project, which will have 5,169 units; Urban Deca Homes Ortigas, which will have 19,046 units; and Deca Homes Talomo in Davao, with 5,948 units.
Deca Homes Sta. Barbara in Iloilo will have 10,238 units and is expected to be finished by 2026.
Mr. Sotto said consumers are feeling the pinch of price inflation and 8990 Holdings was also affected in terms of construction costs.
“What we’ve been doing is that we’ve been planning ahead to make sure that we are vigilant in price changes in construction and we are able to adjust the prices so that it remains the most competitive in the market,” Mr. Sotto said.
“As for our buyers … they will likely keep their houses because our monthly amortization approximates what they would be paying for rent so it really makes sense for them to not forgo the purchase,” Mr. Sotto added.
On Monday, 8990 Holdings shares ended unchanged at P10.20 apiece on the stock exchange. — Justine Irish D. Tabile