Ovialand sees double digit growth, signs 3rd JV with Japanese partner
Ovialand Inc., a pioneer in premium affordable housing, expects to end the year with a 25 percent growth in revenues, owing to strong demand and continued rollout of new projects.
“As of today, we’re at 20 percent (growth). We still have five weeks to go and we project (to end the year with) 25 percent,” said Pammy Olivares-Vital, president and CEO of Ovialand.
Driving this expansion is a 15 percent growth in the number of units turned over—a metric Ovialand emphasizes as a more reliable indicator than reservation sales.
“In Ovialand, what we count is always the turnover. This is the most important unit of measurement in Ovialand—how many houses we’ve turned over to our clients. We want to make sure that the investment is secured, the house is built, and the title is transferred to their name,” Olivvares-Vital explained.
Third joint venture
Growth is likewise being driven by the consistent introduction of new developments that strengthen Ovialand’s project pipeline and market reach.
These include Anara, a 4.2-hectare residential project that Ovialand is developing jointly with Takara Leben Co. Ltd., a Japanese firm engaged in the development and sale of condominiums as well as leasing of real estate, and distribution of real estate.
On Monday, Ovialand and Takara Leben signed a joint venture agreement for Anara, the partnership’s third project located in Bulacan. The first two projects are Savana South and Sentro, which are residential communities located in San Pablo, Laguna. Olivares-Vital signed on behalf of Ovialand, while Takara Leben was represented by its director, Iwamoto Hiroshi.
“Today’s signing at marks a truly significant milestone for our company. Our new project, Anara, takes its name from the national leaf of the Philippines and symbolizes the country’s rich natural heritage. It also represents our first residential development in Bulacan province,” Hiroshi said in his speech at the signing.
“As with our first and second joint projects, Savana South and Sentro, Ovialand will continue to take the lead, while we at Takara Leben will contribute as a trusted partner by applying our experience and development and quality management. We sincerely hope that Anara will become the development of choice by the local community and will bring new value to the lives and livelihoods of its future residents,” Hiroshi added.
Solid fundamentals
This latest joint venture highlights Takara Leben’s growing confidence in both the Philippine housing market and Ovialand’s capabilities. The local developer’s solid fundamentals, consistent delivery, and customer-centric developments have no doubt contributed to the Japanese firm’s broader Southeast Asia expansion strategy.
Besides growth in revenues and house turnovers, the company has already released dividend distributions to Takara Leben from the first two projects, Olivares-Vital disclosed.
Anara, which will rise in Baliwag City, Bulacan, is seen to also mirror the strong performance of the first two joint ventures, with demand expected to remain resilient in this corridor.
This up and coming neighborhood, which will offer 275 housing units, will bring Ovialand’s signature “Premier Family Living experience”—with its premium finishes, efficient precast construction, and the HousEasy service commitment—to this emerging city in Central Luzon.
Anara also positions future residents in a high growth area that has been seeing the influx of major establishments and retail centers, signaling stronger purchasing power and rising residential demand. Its appeal is further boosted by key thoroughfares such as the North Luzon Expressway (NLEx) and Skyway, which have significantly cut travel time to Metro Manila.
Continued expansion
Besides Anara, Olivares-Vital hinted at launching another “big” development in Bulacan. This will form part of the company’s strategy over the next five years.
“We will focus on the emerging middle class Filipino family to give them premium real estate at P3 million to P5 million price points. We want to give them the best, akin to luxury but without the luxury prices because they really deserve it. Filipinos deserve that kind of value in their investment,” Olivares-Vital concluded.
