Mass housing developer 8990 Holdings Inc. said it expects to hit P20 billion in revenues this year with the launching of new projects.
8990 Holdings chairman Mariano Martinez said in an interview Monday at the sidelines of the topping-off ceremony on its Urban Deca Homes Ortigas project the company would generate P9.5 billion in revenues from the first four buildings scheduled for turnover this year.
“This (Deca Homes Ortigas) will be the remaining driver for our revenues for this year,” Martinez said.
The four buildings will offer a total of 3,800 units with an average selling price of P2.5 million. The first two buildings have already been pre-sold.
The company is set to start construction of new projects in Cubao, Quezon City and in Davao City.
The Deca Homes Ortigas is a 22-tower development offering 19,000 residential units.
The company earlier tapped Megawide Construction Corp. as contractor of the huge development.
The whole development, which will also include a shopping mall, is expected to be completed over the next four years.