8990 Holdings, Inc. plans to launch a 45-storey project by the second half of the year, which will be located along EDSA southbound corner Mayor Ignacio Santos Diaz St.
It cited this year’s first-quarter sales for its optimism to further build residential units. The company already broke ground for Urban Deca Tower Cubao in February last year.
“This is definitely a positive sign that many Filipino families are still looking at a better future and this inspires us to continue building communities that offer quality living at highly affordable prices,” 8990 Holdings Chairman Mariano D. Martinez, Jr. said in a statement on Sunday.
With a sales value of around P10.4 billion, the project will feature 4,961 studio units. These will be priced at about P1.9 million each, with the company offering buyers affordable payment schemes.
The development will also include a 2,859 square-meter commercial space. It will also be located near the MRT-3 Cubao station, making the central business districts of Makati, Bonifacio Global City, and Ortigas center accessible.
Urban Deca’s sales launch is an “indicator” of the company’s optimistic outlook for the year.
8990 Holdings reported an 18% net-income growth to P1.56 billion from P1.32 billion in the January-to-March period, while consolidated revenues improved by 29% to P4.48 billion from P3.47 billion.
Luzon had the biggest revenue contribution at P2.6 billion, followed by Visayas with P958.5 million, and trailed by Mindanao at P878.3 million.
The company also said it saw a three-percent hike in units sold in the first quarter. 8990 Holdings delivered 2,634 new homes during the quarter, with 1,272 units sold in Luzon, 801 units in Visayas, and 561 units sold in Mindanao.
On Friday, shares of 8990 Holdings at the local bourse declined by 2.03% or 15 centavos to close at P7.25 each. — Keren Concepcion G. Valmonte