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Landco third quarter sales grow 31% to P1.8B

11/25/2011 [ ]

Upscale leisure developer Landco Pacific Corp. posted a 31 percent increase in third quarter consolidated global booked sales to P1.833 billion compared to the P1.4 billion sales in the same period last year.

The firm said the bulk of this growth came from Landco’s Urban and Mindanao Communities that posted P760 million in sales. Sales of Hometown Communities totaled P565 million while Leisure Communities recorded sales at P508 million.

Urban Community Tribeca Private Residences in Muntinlupa City posted the highest growth — from P167 million to P586 million, mainly due to uptake from new inventory from Tower 5. Tribeca’s sales earnings were also the highest for this segment.

In the leisure communities segment, Playa Laiya Residential posted the highest growth at P297 million from P226 million in the same period last year.

The biggest growth in the Hometown Communities segment came from WoodGrove and the Courtyard and Lakewood. Sales at WoodGrove went up to P248 million compared to P152 million in the same period last year. The Courtyard & Lakewood posted sales of P137 million, which is up from P78 million in the same period last year.

President and CEO Alfred Xerez-Burgos III said Landco’s performance in the third quarter of 2011 is consistent with expectations and makes him even more confident about the company’s year-end results.

“The brisk sales up to the third quarter of 2011 appears to be sustainable and we expect the trend to continue through the fourth quarter,” Xerez-Burgos said.

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. Danessa O. Rivera

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