By Othel V.
Campos | Posted on Feb. 28, 2013 at 12:00am
[
manilastandardtoday.com ]
Real estate
developer CDC Holdings Inc. is increasing its capital expenditure by 40 percent
to P1 billion in 2013 from P600 million in 2012 to develop five major projects
in Metro Manila.
“We have big
plans for 2013 and beyond. We have started to move to high-rise development
from medium rise and we have many projects in the pipeline,” CDC Holdings vice
president for sales Charlene Chua-Sy said.
She said the
company planned to offer private placements to foreign and local investors to
raise P400 million to partly fund the P1-billion capital expenditure for the
year.
CDC Holdings
president and chief executive Melesa Chua said revenues were expected to double
to P2 billion in 2013 from P1.14 billion last year. Net income was up 118 percent to P109 million
in 2012 from P50 million in 2011.
Chua said in
2013, CDC would pursue construction of the Citadines Millennium Ortigas; River
Green Residences and Manila River City, both in Sta. Ana, Manila; Sentrale in
Makati City; and Manila Lion’s Park, a 1.9-hectare community of 11 low-rise
condominiums in Sun Valley, Parañaque City.
“Amidst the
competitive and aggressive market, we were still able to hit the numbers we
aimed for. I see the company growing and opening up more markets in 2013,” Chua
said.
______________________________________________________________________
