MANILA, Philippines - Vice President Jejomar Binay (in photo, left) the concurrent chairman of the Housing and Urban Development Coordinating Council (HUDCC), hands over to 8990 Housing Development Corp. chairman Mariano Martinez Jr. the Developer of the Year award during the recent Housing Fair 2013 at the SM Megamall in Mandaluyong City.
As one of the most profitable and fastest growing companies in the mass housing industry, 8990 HDC was cited with the most number of subdivision units licensed under BP 220. With over 36,000 housing units built and ready for occupancy in 45 housing projects over 482 hectares of land development, 8990 HDC has turned its vision into reality by providing decent shelter to the Filipino family and has fulfilled its mission of being the most admired property development company in terms of industry leadership in price, quality and service.
Next year, 8990 HDC is set to deliver more than 8,000 new houses in different projects in Cavite, Clark, Angeles City, Cebu, Iloilo and Davao under the Deca Homes Brand. 8990 HDC is now considered as the largest mass housing developer in the country today that boasts of low-cost housing units with amenities comparable with first class communities.
These achievements and accomplishments were capped by 8990 HDC’s successful backdoor listing this year through the acquisition of publicly listed IP-Converge.
Following its success in the Philippines, 8990 HDC is slowly gaining recognition in the global market as a prime developer of housing communities for the masses. This may be attributed to the growing market in countries where most OFWs work. Almost 17 percent of the sales of housing units come from overseas Filipino workers, where hard-earned money are put into purchase of houses for their families left behind.
Investors from other countries are also showing interest in the business of mass housing because of the housing backlog that now stands at four million. The government and the private sector only produce at least 250,000 units a year and with a growth rate in demand of five percent or 200,000 housing units per year, there is a phenomenal growth in the business of mass housing in the Philippines.
To attract these investors, 8990 HDC plans to roll out their projects through road shows in countries outside the Philippines that highlight the success of its business.