Businessman Januario Jesus Atencio said Thursday he is acquiring a 13-percent stake in Laguna-based house-and-lot developer Ovialand Inc.
Atencio said in a virtual press briefing his holding firm Januarius Holdings Inc. would purchase the 13-percent stake in Ovialand with an option to increase it to 20 percent within three years.
This is Atencio’s first major investment in the real estate sector after he retired as the president of listed 8990 Holdings Inc. Atencio said he agreed to invest in Ovialand because of its great potential to grow.
“It is a great company with huge potential because it is serving a growing market, so the upside to this investment in very promising,” he said.
Ovialand president Pammy Olivares-Vital said the company was turning out 400 to 600 house-and-lot units annually. These are priced between P2.2 million and P2.8 million. Most of the projects are located in San Pablo, Laguna and Candelaria, Quezon.
