REAL ESTATE developer Ovialand, Inc. is ramping up expansion efforts to reach its goal of building 3,000 houses yearly by 2025 through a “dynamic growth strategy.”
“There is strong demand for our housing lifestyle product, so we are aiming to scale up our capacity to 3,000 houses per year by 2025 and eventually 5,000 houses per year by 2030,” Ovialand President Marie Leonore Fatima Olivares-Vital said in a statement on Tuesday.
The company said it plans to bring its housing products to more cities in Southern Luzon and eventually across the country.
Ovialand assigned China Bank Capital Corp. as its financial advisor for the endeavor.
Januario Jesus Gregorio B. Atencio III, private equity investor and director at Ovialand, said: “It is an honor to have been accepted as a client by one of the best capital advisory firms in the country.”
For his part, China Bank Capital President Ryan Martin L. Tapia pointed to the “huge opportunity” in the country’s housing backlog.
“We think the company’s unique premium affordable offering is well-positioned to cater to a growing market of young families looking for quality homes,” Mr. Tapia said.
Most of Ovialand’s existing projects are horizontal house and lot developments based in Southern Luzon areas.
In February, the company said it was aiming to build and complete 600 units this year as part of four projects in the provinces of Laguna and Quezon. — Keren Concepcion G. Valmonte