CEBU, Philippines - Taking advantage of the fertile market for economic to middle-range residential projects, capitalist Beverly M. Dayanan formalized her entry to this particular segment by establishing a new company called Contempo Property Holdings Inc.
Dayanan, who was president and chief executive of ProHomes, gave up her stake in the company to focus on the good prospects in the vertical, as well as horizontal residential projects in Cebu.
“It’s a financial strategy to divest my interest in ProHomes, and strengthen my new company’s entry to core middle range vertical development,” said Dayanan in a press conference.
Under Dayanan’s leadership, ProHomes achieved exponential growth and made a significant mark in the lives of thousands of Filipinos.
To date, the company is a well-known and highly respected developer of economic and socialized housing projects in Cebu.
Dayanan believes that despite the entry of other players in the vertical development projects like condominium for the middle range market, there is still a huge opportunity for growth and that competition is still at the healthy level.
Her new company, Contempo Property Holdings Inc., will soon introduce its flagship project, a one-hectare mid-range condominium enclave located at H. Cortez St., Mandaue City.
Dayanan is also considering to start a new horizontal development brand to continue accommodating the economic and socialized housing demand for Cebu.
“We want to cash in on this market — the vertical development for middle range market,” she said adding that while her expertise is into developing affordable housing units, the company will also introduce housing units that will accommodate this particular market segment.
Dayanan is positioning its company into the mid-income condominium sector as well as economic housing, going forward and aiming to give attention to its resources in these areas to further strengthen the industry.
She also revealed plans to step up the company’s efforts to drive innovation and new branding creation, to redefine the meaning of community.
“I have decided to opt for full divestment of my interest with ProHomes so that I can consolidate and strengthen my new company, the Contempo Property Holdings Inc., and steer it on my own,” she said. (FREEMAN)