Ovialand Inc., a fast-growing real estate developer pioneering the premium affordable housing segment, said Wednesday it is on track to hit another year of significant growth for 2023.
“We are on track to hit our 2023 targets across our developments in South Luzon and our new development in Baliwag, Bulacan. As the economy battles increasing interest rates and inflation, we continue to focus on our strength which is to create the best value house-and-lot units for our clients,” said Ovialand president and chief executive Pammy Olivares-Vital,.
“This continues to yield very positive results for us,” she said.
Ovialand said revenues have grown 300 percent over the past three years on sustained demand from clients for the Premier Family Living experience.
Ovialand grew its net income on a year-over-year basis to P227 million in 2022 from P166 million in 2021.
Revenues went up by 64 percent to P1.4 billion.
“We will also be focusing on expanding our current developments to provide more house-and-lot inventory for our homebuyers. Apart from that, we continue to focus on improving the efficiency in our construction methodology and ensuring that we continue delivering quality homes to our homebuyers,” Olivares-Vital said.
Ovialand uses its own proprietary precast housing technology that enables it to build homes made of solid concrete in just one day. This speed in construction is complemented by Ovialand’s innovative housing finance options that give homebuyers affordable payment options.
Clients can move into their brand new homes in just three to six months.
“A person can enter a car dealership, pay a downpayment, get financing approval and leave the dealership with a brand new car in just 30 days. Likewise, we aim to make the prospect of ownership easy and convenient for Ovialand clients,” Olivares-Vital said.
“We see a better year ahead as we expand our footprint in different parts of the country. We have challenges yet to overcome, but we are keen on creating the best-value options for homebuyers while catering to the demands of the growing real estate market in the Philippines,” Olivares-Vital said.
