Ovialand launches P2.3-B project in Laguna

OVIALAND, Inc. will start selling units from its horizontal development in San Pablo, Laguna from which it expects P2.3 billion in sales.

In a press release on Thursday, the company said the project, named Santevi, will have 707 housing units in which it invested P850 million.

Santevi is under a joint venture with Japan-based developer Kyushu Yaesu Co. Ltd. and will have single-attached, duplex and townhouse units.

It will be Ovialand’s third housing development in San Pablo after its Sannera and Savana projects, which will bring the company’s total inventory in the area to more than 2,100 units.

The design of the Santevi units is inspired by modern American houses with kitchens covered with subway tiles.

“We chose a clean and classic design, blended with function and space. Our kitchen is delivered with subway tiles that most young Filipinos imagine having in their dream home,” Ovialand President and Chief Executive Officer Marie Leonore Fatima Olivares-Vital said.

Ms. Olivares-Vital said that sales from the units in Santevi will help in the company’s long-term expansion plans.

“Despite the current macroeconomic situation, we believe Ovialand is on the path to achieve a stronger financial position due to continued consumer demand from the properties it provides,” she added.

In the first half, Ovialand generated P672 million in revenues after the turnover of 308 units across Batangas, Laguna, and Quezon.

The company is set to complete at least 580 house-and-lot units this year and projects to hit year-end revenues of P1.2 billion.

Meanwhile, the company said that it will be using its selling proposition called, “Instant Homes, Instance Financing,” wherein its clients can move into their houses within three to six months.

“We are committed to continue to provide young Filipino families the opportunity to own premium affordable homes,” Ms. Olivares-Vital said. “We strive to ensure that families attain a better quality of life through real estate at an accessible price point.” — Justine Irish D. Tabile