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Landco grows sales by a fifth, expects to hit full-year target

Published : Thursday, September 01, 2011 00:00
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LANDCO Pacific Corp. reported brisk sales in the first six months of the year after announcing it would spend a billion pesos for its existing projects and for new developments in 2011.

In a statement, the leisure property developer said sales in the January to June period reached P1.21 billion, 19 percent higher than the P1.01 billion in the same six-month period last year.

“We had a very good start at the first quarter of 2011. Sales continue to be brisk midway through the second half of the year. If this trend continues, we expect to achieve our sales targets at year’s end,” said Alfred Xerez-Burgos 3rd, Landco president and chief executive.

Sales of Tribeca Private Residences in Sucat, Muntinlupa surged 158 percent, while that of Hacienda Escudero advanced by 78 percent. WoodGrove Park in San Fernando, Pampanga enjoyed a 70-percent sales hike, while The Courtyard at Lakewood Golf Estates in Cabanatuan City and Playa Laiya in San Juan, Batangas jumped 35 percent and 20 percent, respectively.

“Products and services related to leisure, health and relaxation are selling very well, showing that the market is putting a premium on quality of life. Leisure is necessary to remain healthy and keep a sense of balance in one´s life,” Xerez-Burgos said.

The real estate company’s sales in 2010 amounted to P2.2 billion, with P810 million coming from Urban and Visayas-Mindanao Communities, P714 million from Hometown Communities and P675 million from Leisure Communities.

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