The Market Monitor Minding the Nation's Business
Listed housing developer 8990 Holdings Inc. has earmarked P850 million to construct 12 medium-rise four-story buildings for a total of 1,024 units for the Urban Deca Homes Campville project, located at Km 23 East Service Road in Muntinlupa City.
The project is the first medium-rise condominium complex, near the central business district in Alabang and is set to complete and fully turn over to homeowners the first of 12 buildings by August.
The new community, situated in a 2.6-hectare complex is near the Alabang Town Center, Filinvest Mall and the SM Southmall and is accessible from both Muntinlupa City and Sucat.
8990 President and Chief Executive Officer Januario Jesus Atencio said the project hopes to attract residents south of Manila who are presently renting but aspiring to become primary asset owners, as well as cater to the growing needs of workers of business-process outsourcing (BPO) offices in the Alabang area and overseas Filipino workers (OFWs) desiring to own a residence in that area.
The MRB condominium complex will have amenities to include elevators, a multipurpose hall, a swimming pool, basketball court and children’s park, as well as parking for 139 vehicles and 147 motorcycles.
Each unit, measuring about 25 square meters, will feature a kitchen countertop, sink, overhead cabinets, tiled bathrooms with bath fixtures including shower, water closet, and lavatory with faucet. The painted and tiled finished units also include aluminum windows with clear glass.
Each unit is priced at P1.27 million for the ground floor and P1.37 million for the fourth floor, equipped with smoke detectors and sprinkler systems.
The home-financing package can either be through Pag-IBIG or 8990’s innovative in-house finance program that features an affordable reservation fee of P10,000, the lowest downpayment of only P30,000 for locally employed buyers, and P60,000 for self-employed and overseas Filipino workers, payable in three months.
Coupled with a low downpayment and a monthly amortization that starts from P11,771.77, Urban Deca Homes Campville becomes one of the most accessible and affordable MRB housing projects in southern Metro Manila today.
“We strive to maintain our affordable housing prices even in Metro Manila. We believe that our housing products, which caters to the typical working class middle and lower-income family, relate directly to the aspirational and ‘value-for-money’ goals of this market that we are committed to serve,” Atencio said.
While the project is expected to be completed in just 24 months, the project intends to deliver 488 units worth P414 million this year. Urban Deca Homes Campville is one of the nine projects being launched by 8990 this year to beef up its inventory of housing units.
These projects, situated in Muntinlupa, Cavite, Cebu, Iloilo and Davao, would deliver 4,486 housing units with a value of P4 billion this year.
Other projects include the Deca Homes Tanza in Cavite; the economic and socialized housing units in Deca Homes Guadalupe in Cebu; the Deca Homes Talisay 3; the Deca Homes Pavia in Iloilo; and the Deca Homes Resort Residences Prime, Deca Homes Resort Residences Commercial Phase 11, and Deca Homes Catalunan Grande in Davao.
Together with the 10 ongoing projects, the 19 projects of 8990 would provide a total of 11,083 housing units worth between P450,000 and P1.25 million per unit for a total gross value of P10 billion this year.
8990 sees revenues growing between 23 percent and 28 percent to a range of P9.6 billion to P10 billion this year from P7.8 billion last year. It booked a 3-percent increase in gross sales to P2 billion in the first quarter of the year from P1.94 billion in the same period last year.
8990 sees its net income growing between 15 percent and 21 percent to a range of P3.8 billion to P4 billion from P3.3 billion last year. It recorded a net income of close to P1 billion in the first quarter. Luis Leoncio