House-and-lot developer Ovialand Inc. expanded its presence outside Southern Luzon with the groundbreaking of its newest residential project in Baliwag, Bulacan.
Ovialand said Wednesday in a statement Seriya would offer 536 house-and-lot units.
The house-and-lot units will initially be built on 8.9 hectares of land, which can be expanded up to 15 hectares.
Ovialand said it would spend roughly P990 million for the development of Seriya.
The turnover of house and lot units is expected to begin in September 2023.
The property is located along Candaba Highway and is 10 minutes away from the Pulilan exit of the North Luzon Expressway, making it accessible to potential clients from Metro Manila and nearby provinces.
“In 2021, Ovialand embarked on its 10-year growth plans to have a nationwide presence by 2030. We will do this by implementing a disciplined regional growth strategy, replicating our success and efficiency in South Luzon into new areas where Filipinos are seeking for the best value that their hard-earned money can buy,” Ovialand president and chief executive Pammy Olivares-Vital said.
Ovialand said it received very strong interest from residents in Baliwag on its developments as well as residents in northern Metro Manila.
Seriya will have various amenities including air-conditioned clubhouse, swimming pool and a community chapel.
Ovialand is looking to raise up to P2.2 billion from an initial public offering in the third quarter of the year.
The property firm will sell up to 396 million common shares at P5.60 per share.
Ovialand has turned over 1,614 homes priced between P2 million to P4 million in the past six years.