8990 eyes P4 billion in sales from Tondo project

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Mass housing developer 8990 Holdings, Inc. looks to generate P4 billion in sales from its Tondo project this year, noting the uptick in demand as the development nears completion.

In a statement issued Tuesday, June 12, the listed real estate company said Urban Deca Homes Manila will see four towers completed by the end of 2018, with another four to be finished during the first half of 2019.

“Once our buyers saw that buildings are already nearing completion, we noticed a significant jump in our sales. We are certain we will see this trend continue as we roll out more units to meet the strong demand for housing in the Tondo area,” 8990 Holdings President and Chief Executive Officer Willibaldo J. Uy said in a statement.

8990 Holdings is slated to deliver 3,200 units from Urban Deca Homes Manila within the year. Of this, the company noted that sales reservations are already nearing 2,000 units.

Urban Deca Homes Manila is a 13-tower residential complex sitting on an 8.4-hectare property in Tondo, Manila, offering over 13,212 units with an estimated sales value of P20 billion. The company is spending P8 billion until 2020 for the project’s development. — Arra B. Francia