Landco exceeds target by 11% despite crisis

CEBU, Philippines -  Amid the gloomy backdrop brought about by the global economic crisis, one of the country’s largest real estate developers Landco Pacific Corporation exceeded its sales target for the first six months of this year, by 11 percent.

In a statement, Landco reported that it registered above target sales of P1.949 billion, P196 million more than its P1.753 billion target for the first half of the year, driven by strong sales of its real estate developments in Visayas and Mindanao.

Sales in Visayas and Mindanao rose to P497 million, P128 million higher or 35 percent than its P368 million target, due to good sales performance of leisure, urban and hometown developments.

In other categories, sales of Landco’s leisure developments increased to P427 million while sales of memorial parks rose to P287 million, exceeding their combined target of P561 million by P153 million or 27 percent.

Landco’s prime projects in the Vis-Min area include Monterazzas de Cebu, a premier mountainside residential community in Guadalupe, Cebu City; Playa Azalea, a seaside commercial and residential enclave in Samal Island, Davao del Norte; and Woodridge Garden Village in Zamboanga City, a resort-like residential subdivision. Its memorial parks are Forest Lake parks in Iloilo, Zamboanga, Davao, General Santos, Cagayan de Oro, San Fernando, La Union and Binan, Laguna.

Landco president Alfred Xerez-Burgos III said that the company is bent on completing all ongoing projects.

“Coupled with the improving global economy, the completion of these projects will provide Landco better opportunity to further boost sales,” he said.

Xerez-Burgos III said the continued positive sales performance of Landco developments shows that people still put high premium on quality “life at your leisure” living.

“This also shows that the market continues to trust and value what Landco developments offer to its homeowners,” he said. Xerez-Burgos III further shared, “At this point in time, when those who have money to invest may be afraid to put it in riskier vehicles, real estate becomes the safer investment—it’s a tangible asset that won’t go anywhere and will surely appreciate—plus, it is an investment that can be used, experienced and enjoyed.”

Landco Pacific Corporation is the developer of high-end leisure, urban, and hometown communities.

For 19 years, the company has made its mark in Philippine real estate, and is widely acknowledged to be the leader in leisure development. As the purveyor of resort living experiences, Landco is committed to consistently create innovative and outstanding lifestyle products that revolutionize the way of life.

In Cebu, the company is developing a 220-hectare prime hillside estates for high-end residential development called Monterazzas de Cebu. The P10 billion integrated project is expected to be completed in the next few years.