Ovialand expands housing portfolio

MANILA, Philippines — Olivares family-led Ovialand Inc. plans to expand its housing portfolio across the country.

The company, which is planning to do an initial public offering, recently partnered with Kyushu Yaesu Co. Ltd. (Kyushu Yaesu), a Japan-based wholly-owned subsidiary of Saibu Gas Holdings Co. Ltd. for a second residential joint venture in Laguna.

The latest project, Santevi, will comprise 810 house and lot units in San Pablo, Laguna and follows the success of Caliya in Candelaria, Quezon.

This is Ovialand’s third housing development project in San Pablo, which will bring the company’s total portfolio in the area to 2,500 units.

“We have bet big on Southern Luzon because of its accessibility and the city’s openness to modernization and change,” said Ovialand president Pammy Olivares-Vital said.

“Aside from our planned public listing, expanding our portfolio throughout the Philippines is core to our expansion plans,” she said.

While the company is focused on South Luzon, Ovialand will also have a presence in other major markets to take advantage of the potential for growth in these areas.

“Filipinos tend to be very discerning when it comes to purchasing a home as they know they are making a long-term investment for their future,” she said.

She said the company is committed to delivering high-quality homes that provide the best value for money.

Last May, Ovialand appointed China Bank Capital Corp. as its financial advisor to assist the company to embark on a dynamic growth strategy including its planned IPO.

The company aims to scale up capacity to 3,000 houses per year by 2025 and eventually 5,000 houses per year by 2030.

Real estate veteran JJ Atencio is also part of Ovialand as a private equity investor and director.