This is the artists perspective of the Urban Homes condominiums of Deca Homes in barangay Tipolo, Mandaue City.(DECAHOMESCEBU.COM)
Cable Internet service also planned this year
Listed low-cost housing developer 8990 Holdings, Inc. will offer an additional 1,800 housing units in Cebu this year, officials said.
Januario Jesus B. Atencio III, president and chief executive officer, said the company will also start offering cable Internet and telephone connectivity to its estimated 30,000 homeowners nationwide this year. A subsidiary has been created to provide this service.
Alexander Ace S. Sotto, general manager for construction and engineering, said new Deca Homes projects are under construction in barangay Guadalupe, Cebu City and in Talisay City. The company is also building Urban Deca Homes condominium in Tisa, Cebu City.
“Even as we speak, we have finished one in Tisa already,” he said at the sidelines of the Cebu Entrepreneurial and Investment Summit on Saturday.
Some of the additional housing units will come from ongoing projects in Cebu, Sotto said. Deca Homes subdivisions are located in Minglanilla, Mactan and Mandaue while an Urban DecaHomes project has been completed in Tipolo, Mandaue City. The projects are designed for the low- to middle-income segments.
Atencio said they plan to build a total of 11,083 housing units this year from nine new projects and 10 ongoing projects nationwide.
The company will also open three new office branches and construct a third wake board park in Iloilo, he added.
Atencio attributed the success of the Deca Homes brand to the low cost of the housing units, accessible in-house financing and immediate turnover to buyers.
Another reason is that the company knows its customers well, he said.
“We’ve studied this market and we continue to study this market well. We really know the middle class and the lower middle class market,” he added.
“We also have only 2% downpayment compared to other developers who require 20% downpayment,” Atencio said.
In a previous disclosure, the company said it booked a 3-percent increase in gross sales to P2 billion in the first quarter of this year from P1.94 billion in the same period last year.
Net income went up slightly to P937 million as of March and is seen to grow 15 percent to 21 percent to a range of P3.8 billion to P4 billion this year. The company reported a net income of P3.3 billion last year.