Ovialand Inc. launched the Santevi project with 707 housing units, but only expects to finish 580 units this year with ₱1.2 billion in revenue.
Ovialand Inc. (OLI) will begin selling housing units at its horizontal development in San Pablo, Laguna which expects ₱2.3 billion in sales.
The company said the Santevi project will have 707 units in which it invested ₱850 million, Business World reported.
Santevi is under a joint venture with Japan-based developer Kyushu Yaesu Company Limited (Ltd.) and will have single-attached, duplex and townhouse units.
After the Sannera and Savana projects, Santevi will be the company’s third housing development which is located in San Pablo, Laguna which will bring the OLI total inventory in the area to over 2,100 units.
The design of the Santevi units is inspired by modern American houses with kitchens covered with subway tiles.
OLI President and Chief Executive Officer Marie Leonore Fatima Olivares-Vital said, “we chose a clean and classic design, blended with function and space. Our kitchen is delivered with subway tiles that most young Filipinos imagine having in their dream home.”
Olivares-Vital said the sales from the housing units in the Santevi project will be a help in the company’s long-term expansion plans.
“Despite the current macroeconomic situation, we believe Ovialand is on the path to achieving a stronger financial position due to continued consumer demand from the properties it provides,” she added.
In the first half, OLI generated ₱672 million in revenues after the turnover of 308 units across Batangas, Laguna, and Quezon.
The company expects to finish at least 580 house-and-lot units this year and end the year with ₱1.2 billion in revenue.
Also, Ovialand Inc. said they will be using its selling proposition called, “Instant Homes, Instance Financing,” wherein its clients can move into their houses within 3 to 6 months.
“We are committed to continuing to provide young Filipino families the opportunity to own premium affordable homes,” Olivares-Vital said. “We strive to ensure that families attain a better quality of life through real estate at an accessible price point.”
Tags: #OvialandInc., #housingunits