REAL ESTATE developer Ovialand, Inc. saw a 37% increase in its first-half consolidated net profit to P420 million, driven by surging demand for premium-affordable homes.
Revenue from January to June rose by 20% to P1.1 billion amid strong sales and continued demand for the company’s premium-affordable homes in Laguna and Bulacan, Ovialand said in an e-mailed statement on Thurs-day.
Homes turned over increased by 19% on the back of rising annual production capacity.
Total assets went up by 12% to P2.9 billion, with real estate inventories and land acquisition options accounting for 48% of the growth.
“Ovialand is on track to hit its target growth for 2025 and is continuously watching out for opportunities in the market to be able to expand its reach to more homebuyers in other areas in Luzon,” Ovialand Chief Executive Officer Pammy Olivares-Vital said.
Ovialand recently broke ground in Baliwag, Bulacan, marking its second project in Central Luzon as the company expands its presence north of Metro Manila.
“We are very happy to serve and bring our promise of premier family living to more locations as we add new properties and expand our current projects,” Ms. Olivares-Vital said.
Ovialand is a real estate developer engaged in the premium-affordable housing market. It has projects in Laguna, Quezon, Batangas, and Bulacan. — Revin Mikhael D. Ochave
