Property developer Ovialand Inc. reported a 37-percent increase in its first-half consolidated net income, led by strong sales and sustained demand for its premium-affordable housing developments in Laguna and Bulacan provinces.
Ovialand said in a statement net profit amounted to P420 million, as revenues rose 20 percent year-on-year to P1.1 billion.
The property firm said it turned over 19 percent more housing units compared to the same period last year, reflecting its growing annual production capability.
Total assets climbed 12 percent to P2.9 billion, with real estate inventories and land acquisition options accounting for nearly half of the growth. The company said this supports its ongoing regional expansion plans.
Ovialand recently broke ground on its second project in Central Luzon, located in Baliwag, Bulacan, as part of efforts to strengthen its presence north of Metro Manila.
“We are very happy to serve and bring our promise of Premier Family Living to more locations as we add new properties and expand our current projects,” said Ovialand chief executive Pammy Olivares-Vital.
“Ovialand is on track to hit its target growth for 2025 and is continuously watching out for opportunities in the market to be able to expand its reach to more homebuyers in other areas in Luzon,” she said.
Ovialand, one of the fast-growing real estate developers in the country, signed a joint venture partnership with Japan’s Takara Leben in 2024 to develop more affordable housing projects/
The joint venture will develop Savana South, a 6.5-hectare development offering 657 homes with total sales value of P2 billion.
