Ovialand netted P420M in first sem
Strong sales and demand for properties in Laguna and Bulacan boosted the first-semester profit of Ovialand Inc. by 37 percent to P420 million.
The Olivares family-led real estate developer on Thursday said its revenues had likewise expanded by a fifth to P1.1 billion.
Home turnovers jumped by 19 percent during the period, while total assets climbed by 12 percent to P2.9 billion.
Nearly half of these came from real estate inventories and land acquisition options, according to Ovialand. This solidified its regional expansion plans.
“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 CEO Pammy Olivares-Vital said in a statement.
Earlier this year, the company broke ground for its in Baliwag, Bulacan — its second in Central Luzon.
Ovialand, whose other projects are in the provinces of Batangas and Quezon, last year announced plans to establish its presence across the country’s three main island groups by 2033.
In November, the firm unveiled the 9.7-hectare Sentro Properties. This will add 746 housing units to Ovialand’s portfolio in San Pablo City, Laguna.
Sentro Properties is its second housing project with Japanese developer Takara Leben Co. Ltd.
A subsidiary of Tokyo Stock Exchange-listed Mirarth Holdings Inc., Takara Leben has a portfolio of condominiums, hotels and offices.
According to Vital, the units will be sold at P3 million to P5 million each, depending on the size.
