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Landco sales grow 18% in 1st quarter to P586 million

05/30/2011 [ tribune.net.ph ]

Upscale leisure developer Landco Pacific Corp. (Landco) reported sales in the first quarter grew by 18 percent to P586 million, P90 million higher than last year’s P496 million.

Sales of P242 million came from Urban and Visayas-Mindanao Communities, P146 million from Leisure Communities and P198 million from Hometown Communities.

Landco’s sales in 2010 totaled P2.2 billion, with P810 million coming from Urban Communities, P714 million from Hometown Communities and P675 million from Leisure Communities.

President and CEO Alfred Xerez-Burgos III said new inventory from Tribeca’s Tower 5 in Sucat, Muntinlupa City, Playa Azalea in Samal Island, Davao, WoodGrove Park in San Fernando, Pampanga and The Courtyard at Lakewood Golf Estates in Cabanatuan City led to higher sales of Landco’s urban and Visayas-Mindanao and Hometown Communities. Xerez-Burgos said, “We are off to a very good start this 2011. If we sustain the brisk sales we experienced in the first quarter, we expect to achieve our sales targets come yearend.”

Xerez-Burgos earlier had said Landco will be spending P1 billion on expansion of existing projects and new developments in 2011.

Landco Pacific Corp. is the developer of high-end leisure, urban, and hometown communities. For 21 years, the company has made its mark in Philippine real estate, and is widely acknowledged to be the leader in leisure development.
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