15 May 2019

8990 Holdings Q1 income up

2019-06-04T05:29:22+08:00May 15, 2019|Philippine Daily Inquirer, Newsroom|

Leading mass housing developer 8990 Holdings grew net profit in the first quarter by 17 percent year-on-year to P1.18 billion as residential condominium projects in Metro Manila started to contribute significantly to total revenues. Revenues grew by 20 percent year-on-year in the first three months to P3.01 billion as the company delivered a total of 2,204 housing units, 23 percent higher than the units delivered in the previous period last year. Net profit margin was at 39 percent, well above the company’s guidance of 37.5 percent

15 May 2019

8990 profit jumps 17% in January-March

2019-06-04T05:25:11+08:00May 15, 2019|Business World, Newsroom|

8990 HOLDINGS, Inc. booked a 17% increase in net income in the first quarter of 2019, driven by sales of its housing projects in the National Capital Region (NCR), Iloilo, and South Luzon. In a disclosure to the stock exchange on Tuesday, the listed mass housing developer said that its net income grew to P1.177 billion during the January to March period, from P1.009 billion in the same period last year. Revenues jumped 20% to P3.01 billion in the three-month period, as the company sold 2,204 housing units which was 23% up from year ago figures. Sales from NCR projects accounted for 25% of the total, followed by Iloilo projects, which accounted for 12% and South Luzon projects with 11%.

14 May 2019

8990 Holdings nets P1.18B in Q1

2019-06-04T05:21:17+08:00May 14, 2019|Philippine Daily Inquirer, Newsroom|

MANILA, Philippines – Leading mass housing developer 8990 Holdings grew its net profit in the first quarter by 17 percent year-on-year to P1.18 billion as its residential condominium projects in Metro Manila started to contribute a big bulk of the revenues. Revenues grew by 20 percent year-on-year in the first three months to P3.01 billion as the company delivered a total of 2,204 housing units, 23 percent higher than the units delivered in the previous period last year. Net profit margin was at 39 percent, well above the company’s guidance of 37.5 percent. Projects in Metro Manila contributed 25 percent of the total revenues, followed by Iloilo with a share of 12 percent while 11 percent came from South Luzon.

09 May 2019

8990’s 2018 income up 13% to P4.67B

2019-06-04T05:16:29+08:00May 9, 2019|Newsroom, The Manila Times|

LISTED 8990 Holdings Inc. reported on Wednesday its consolidated net income climbed by 13 percent to P4.67 billion last year from P4.14 billion in 2017. In a disclosure, the mass-housing developer said consolidated revenues jumped by 15 percent to P11.74 billion in 2018 from P10.18 billion in 2017, buoyed mainly by real-estate sales, which hit P11.67 billion. Its Luzon projects ..

23 Mar 2019

Betting big on Tondo

2019-06-04T03:59:49+08:00March 23, 2019|Philippine Daily Inquirer, Newsroom|

A property developer’s presence in a certain locale can be quite significant. In most cases, such massive property projects can breathe new life into these towns, municipalities and even cities, generating fresh jobs and a new source of income for the local government. New projects can also help uplift the quality of lives of the residents, further refresh the landscape, ..

20 Mar 2019

8990 to acquire majority stake in Cebu developer

2019-06-04T03:44:14+08:00March 20, 2019|Business World, Newsroom|

MASS HOUSING developer 8990 Holdings, Inc. said it has signed a deal to acquire a 72.83% stake in Genvi Development Corp., the company behind the integrated community Monterrazas de Cebu in Cebu City. In a disclosure to the stock exchange on Tuesday, the listed firm said its subsidiary 8990 Housing Development Corp. (8990 HDC) inked a subscription agreement for 2,913,128 common shares out of the existing but unissued capital of Genvi at P100 each or a total of P219.31 million. Once the deal is completed, 8990 HDC will own around 72.83% of Genvi’s total issued and outstanding capital stock. The rest will remain with Genvi’s current shareholders.

16 Mar 2019

A great equalizer, a true enabler

2019-03-16T07:49:05+08:00March 16, 2019|Philippine Daily Inquirer, Newsroom|

From building lakeside communities to creating high-rises tailor-made for university students, property developers have gotten more innovative in enhancing their various residential projects. Here’s a real estate player that, aside from giving Filipinos a renewed hope in realizing that dream of owning a decent, quality home, is also enabling the community to become a better version of itself. Building quality—and ..

22 Feb 2019

Low-cost housing to rise in Meycauayan

2019-02-26T01:52:00+08:00February 22, 2019|Manila Standard, Newsroom|

Listed property developer 8990 Holdings Inc. recently signed a contract with Megawide Construction Corporation to build a low-cost residential project in Meycauayan, Bulacan comprising some 5,178 housing units. 8990 Holdings and Megawide have been buildinghigh-qualityy residential projects under the Urban Deca Homes brand over the past two years. These include the 22- and the 13-building Urban Deca Homes projects in ..

21 Feb 2019

Mass housing developer plans to acquire Cebu firm

2019-02-22T02:48:47+08:00February 21, 2019|Newsroom, Business World|

MASS HOUSING developer 8990 Holdings, Inc. is expanding into the upscale property market with the acquisition of Cebu-based property firm GENVI Development Corp. In a statement issued Wednesday, the listed firm said it is finalizing the acquisition of GENVI Development, which develops high-end properties in Cebu including integrated community Monterrazas de Cebu. “The acquisition of Monterrazas de Cebu firms up ..

20 Feb 2019

8990 Holdings ventures into high-end segment

2019-06-13T03:27:01+08:00February 20, 2019|Philippine Daily Inquirer, Newsroom|

Leading mass housing developer 8990 Holdings has debuted into high-end property development with a deal to acquire Genvi Development Corp., one of Cebu’s top developers of upscale property. Genvi’s flagship project is Monterrazas de Cebu, the biggest and last remaining contiguous mountain property development in the heart of Cebu City. It is a master-planned residential, commercial and institutional estate covering more than 200 hectares and offering a commanding view of Cebu, Mactan and Bohol.

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