CDC Holdings seen hitting P2-B sales goal

MANILA, Philippines - Real estate developer CDC Holdings Inc. is confident it can meet its P2 billion sales goal this year after first semester sales doubled from a year ago.

Charlene Chua, CDC Holdings vice president for sales and marketing said the firm’s sales reached P800 million in the first half of the year compared to just P400 million in the same period a year ago.

The higher first semester sales was attributed to the good market reception of the Rivergreen Residences project located in Sta. Ana, Manila.

The company also saw stronger demand from the overseas Filipino workers (OFW) market, particularly from those in the Middle East.

“We are on track to meet the sales goal because this P800 million does not include pre-selling for our Citadines project which has a higher contract price,” Chua said.

The Citadines Millennium Ortigas project is located on a 1,700-square meter property at the corner of Ortigas Avenue and Sapphire Street.

Elsie Chua, CDC Holdings president and chief executive officer also said the company expects higher sales in the coming months as a result of a roadshow conducted in Europe to promote products to OFWs living there.

“For the Europe roadshow, our target in sales is P200 million,” she said.

The company holds annual roadshows in Europe, the Middle East and Japan to make its products to OFWs.

Asked about the firm’s plan to raise P400 million via private placement, C. Chua said the company is currently in talks with various investors.