MANILA, Philippines - High-end leisure property developer Landco Pacific Corp. (Landco) posted a total of P2.65 billion sales in 2011, up from the P2.20 billion it made in 2010.
“2011 was a good year for the Philippine real estate industry and a busy and exciting year for Landco as well,” said Alfred Xerez-Burgos III, Landco president and CEO. “The company witnessed robust sales, registering a 20-percent growth compared to 2010 and the industry saw a large demand for housing that was further spurred by high OFW remittances and low interest rates.”
Landco’s top selling development in 2011 was Tribeca Private Residences (Tribeca), a resort-themed condominium in Sucat, Parañaque which grossed P805 million. This was a 93-percent increase compared to 2010, owing to the uptake of inventory from newly-launched Hudson Place (Tower 5) and following the turnover of one tower in Chelsea Place and another tower in Bryant Place.
Leisure community Playa Laiya in San Juan, Batangas made P374 million, a 31-percent increase compared to 2010, following the grand launch and completion of its Beach Club. Sales from Playa Azalea in Samal Island, Davao continued to be strong at P304 million following the completion of its Aqua Park. WoodGrove Park, a luxury home community in San Fernando City, continued to perform well recording sales at P303 million, up 14 percent compared to 2010, following the completion of its Clubhouse Pool.
2011 also saw the launch of The Gardens house and lot project at Waterwood Park in Baliuag, Bulacan and the pre-launch of Playa Azalea’s eight-hectare expansion.
Xerez-Burgos is optimistic that 2012 will remain favorable for the company and the entire real estate industry. “We look forward to more government infrastructure projects that will contribute to a positive outlook for this year.”
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