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8990 expects to continue strong growth in 2017

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By James A. Loyola

Top mass housing developer 8990 Holdings, Inc. expects 2017 to be a watershed year for the company as it benefits from the fruits of projects that it launched this year.

In an interview, 8990 President Januario Jesus Atencio said they will begin to recognize revenues from projects launched in 2016 as they are sold and completed by next year while increasing revenues generated from Luzon.

The company is confident of a more “equitable distribution” on its performance by next year with its Luzon operation seen to contribute 45 percent of its reported sales by next year.

Atencio said they are also planning to launch eight projects next year, of which three will be in the National Capital Region. “The outlook as far as 8990 is concerned in 2017 is looking good, a continuation of this year’s performance.  8990 earlier said it looks at booking sales of P14 billion by next year.

Meanwhile, Atencio said they are optimistic of hitting their sales guidance of P12 billion for 2016, a 20 percent increase from fiscal year 2015 of P10 billion, despite delays in the launch of three projects this year.

Of the firm’s planned 14 project launches, Atencion said they have already discounted three projects — all in Davao projects – which they will be unveiling next year.

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