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Arthaland set to roll out more projects

June 28, 2013 9:10 pm [ manilatimes.net ]
Listed real-estate developer Arthaland Corp. is looking to launch more projects in the next few years after turning its P6.20-billion residential project in Bonifacio Global City, Taguig.
“We hope to launch two or more projects [in 2014]. We hope to make it inside Metro Manila,” Angela de Villa-Lacson, Arthaland president and chief executive, said in an interview with reporters after the company’s annual stockholders meeting held on Friday.
“We are still a small company, we do phase introductions,” she added.
Launched in July last year, Tower 1 of Arya Residences is 90-percent sold, while the Tower 2 is 50-percent sold.
“[The construction of Arya 2] will end 2015 and will be turnover by the first quarter of 2016. For Arya 1, the turnover is first quarter of next year,” Lacson said.
Arya Residences is a two-tower luxury development rising along McKinley Parkway in Bonifacio Global City.
Moreover, the company is planning to further grow its land bank in and outside Metro Manila.
“We are in discussions with [some owners for] very good areas but I can’t identify it yet. It’s going to be in Metro Manila and we’re also in talks with others [concerning areas] outside [Manila],” Lacson said.
Arthaland, meanwhile, is targeting double-digit growth this year, as it expects to recognize the sales from projects that are nearing completion.
“We will be nearing completion and we are completing the buildings by the end of this year, and for the recognition of the construction take-up will be higher because we’ve already been collecting quite a lot,” Lacson further said.
According to Lacson, the company expects to continue the growth trend in its profit, given that it has earned P153 million in the first quarter of this year.
Asked if the firm’s profit could reach as high as P600 million, Lacson said that “if you project the first quarter, it will be something like that.”
“I can’t identify it exactly, but it will certainly follow the trend given the strong take up of projects,” she added.
However, Lacson said that the company may have slower growth next year, since majority of the sales from projects should have been recognized.
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