8990 hits Php11.5 billion in 2018, sets 2019 revenue guidance of Php13 billion

8990 Holdings, listed on the Philippine Stock Exchange under the symbol “HOUSE” and one of the fastest growing real estate developers in the Philippines, rounded up 2018 hitting its full-year revenue target of Php 11.5 billion. It is eyeing Php 13 billion for 2019. The company is also guiding a net income of Php 5.2 billion.

“We had a strong fourth quarter given the increased interest in our housing projects throughout the country. This means we will have another banner year as our unaudited revenues hit our target of Php 11.5 billion in 2018. This is already double of what we did a mere six years ago,” said 8990 Holdings president and chief executive officer Willie J. Uy.

In 2019, the company expects to grow revenues to Php 13 billion with more than half coming from its projects in Luzon—particularly from its largest project to date, Urban Deca Homes Manila in Tondo.

Situated in an 8.4-hectare property, Urban Deca Homes Manila is a 13-tower residential complex offering over 13,000 units with an estimated sales value of Php 20 billion. Targeting residents of Tondo and those living in the Port Area, Intramuros, Divisoria and the Camanava (Caloocan-Malabon-Navotas-Valenzuela) area, Urban Deca Homes Manila addresses the housing needs in the most densely-populated area in Metro Manila.

According to Uy, “We have been in business for more than a decade. Our success in Luzon, Visayas and Mindanao is testament to our belief that housing should be within reach of every Filipino. The market will always be receptive if you provide homes that are within secure communities and make it within reach.”

“Tondo is a good example. Urban Deca Homes Manila is the first large-scale development in the area. We provide Tondo residents and those living in nearby locations, who have been living with relatives or renting, a viable housing alternative in the area. With the completion of the 18,000-square meter Deca Mall, we will surely not only provide housing but a new kind of lifestyle for Tondo,” he added.

Deca Mall recently partnered with the SM Group, making SM Hypermarket as its anchor tenant. SM Hypermarket will occupy 3,073 square meters of the mall, offering a wide array of food and non-food products.

*The 2018 year-end results indicated herein are unaudited and no guarantees are given (nor should any be relied upon) that these results will not be subject to change or adjustments upon audit. These reported results are not meant as any form of guidance or recommendation to the public.

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