Ovialand targets almost double profit growth

REAL ESTATE developer Ovialand, Inc. expects near-double growth in its net income this year, on the back of strong demand for its premium-affordable housing projects across Luzon, a company official said.

“Despite heavy rains, supply challenges, and a very active construction year, we continue to build and deliver,” Ovialand Investor Relations and Compliance Officer Monica Ann V. Mendoza said during an event on Wednesday.

The company reported a net income of P507 million last year, she said.

Across its Luzon portfolios, Ovialand constructed 770 new housing units and turned over 645 units this year.

“Right now, we’re really focusing on our existing areas in Luzon because there is still a lot of room to grow,” Ovialand President and Chief Executive Officer Pammy Olivares-Vital told reporters on the sidelines of the event.

Anara, the company’s latest project in Bulacan, will have 310 house-and-lot units, with turnover scheduled by the third quarter of 2026.

“We want to be the most trusted homebuilder in the Philippines, and trust is built on consistency, transparency, and aligning with the right people,” Ms. Vital added.

In the first half of the year, Ovialand’s consolidated net income rose 37% to P420 million, while revenues increased 20% to P1.1 billion.

Ovialand’s current housing portfolio includes Seriya and Anara in Baliwag, Bulacan; Caliya in Candelaria, Quezon; Terrazza in Santo Tomas, Batangas; and Santevi, Savana, and Sannera in San Pablo, Laguna. — Beatriz Marie D. Cruz