Mass housing developer 8990 Holdings Inc. on Wednesday disclosed its goal to register P23 billion in revenues this year, up 15 percent from P20 billion in unaudited sales booked in 2021.
8990 Holdings said in a disclosure to the stock exchange its land bank of 729.05 hectares in strategic areas nationwide would deliver the projected revenue growth for the year.
The company reported a 41-percent hike in sales in 2020 to P20 billion from P14.2 billion in 2019, on continued strong demand for affordable houses. The 2021 revenues represented a 30-percent rise from the pre-pandemic 2019 revenues of P15.4 billion.
“These results reflect the strong demand for affordable housing, the optimism of our buyers in the economy, and their confidence in the stability of their future revenue streams,” 8990 president and chief executive Anthony Vincent Sotto said.
The company delivered 11,564 more homes to Filipino buyers in 2021.
