Landco Pacific posts 33% sales growth

Manila, Philippines -  Landco Pacific Corp., one of the acknowledged frontrunners in luxury leisure development in the country, has achieved a 33 percent growth in sales in the first half of 2012. This represents collective sales of approximately P1.6 billion from the corporation’s portfolio of prime projects all over the country.

The announcement came on the heels of Landco’s earlier report this year that showed P2.6 billion in total sales in 2011, a figure higher by 20 percent than the corporation’s 2010 sales of P2.1 billion.

”The upscale property market remains upbeat thanks to a stable economy and strong interest from investors” said Alfred Xerez-Burgos III, Landco president and CEO. ”Given the good sales performance and capex plans for 2012, our revenue and profit outlook remain on-track for the rest of the year.”

Landco’s varied prestige projects have served the market’s needs for quality and innovation. Tribeca Private Residences in Muntinlupa City remains Landco’s bestselling development in the first half of the year – posting sales of P490 million. The noteworthy performance of the project property was steered by the increase of inventory from its newly-launched Hudson Place (Tower 5) and the opening of the Central Park, a modern leisure and lifestyle amenity at the center of Tribeca.

Outside Metro Manila, Landco’s Leisure Communities, namely Playa Laiya in San Juan, Batangas and Playa Azalea in Samal Island, Davao both performed outstandingly with sales of P241 million and P220 million, respectively in the first-half. The Urban and Visayas-Mindanao Communities segment also enjoyed a remarkable 61 percent growth, or P304 million, due mainly to the strong sales performances of the corporation’s four developments in the region.

Xerez-Burgos said the corporation is set to launch new residential and commercial projects and expand on current developments. It expects to allocate some P900 in capital expenditures for the whole of 2012 to bankroll its intended ventures.