Property developer 8990 Holdings said it expects to generate P21 billion in revenues with the completion of a 13-building residential development in Tondo, Manila.
The company said in a statement Urban Deca Homes Manila located in an 8.4-hectare property in Tondo would deliver 13,000 residential units.
Eight buildings are already on the rise with two more buildings slated for completion before the end of 2017. 8990 Holdings said to complete the group’s largest development, it would spend another P8 billion by 2020.
“We’ve proven that the moment buildings are already put up, sales performance increases as well. Once our buyers saw that the buildings are already nearing completion, we noticed a steady increase in our sales. This will definitely keep our brokers very busy this Christmas season,” 8990 Holdings chief operating officer Willie Uy said.
8990 Holding said its main goal was to bring affordable housing closer to all levels of middle-income Filipinos in Metro Manila.
The mass housing developer said Urban Deca Homes Manila would meet the housing needs of larger families who would want to reside within Metro Manila.
The project will also feature a mall that would serve as an amenities area for residents.
“We are very excited about this project. You see, Tondo has such a tightly knit community and the people who grew up there prefer to stay there. It is also attractive to entrepreneurs and employees who have businesses and work in the surrounding areas such as Caloocan-Malabon-Navotas-Valenzuela region and surrounding areas of Manila including Divisoria, Sta Cruz and Ermita,” Uy said.
Jenniffer B. Austria
“You don’t see that many developments in the area that would accommodate the high demand for housing. This makes Tondo ripe for redevelopment. One can only imagine how much the landscape of Tondo would change in the next five years,” Uy said.