8990 Holdings: Trailblazing property firm pushes sporty lifestyle

MANILA, Philippines - In the middle of two subdivisions – one in Davao and the other in Clark – wakeboarding parks are the centerpiece development.

Clearly going beyond the usual basketball courts, biking and jogging paths, swimming pools and gym facilities, property developer 8990 Holdings Inc. made waves when it incorporated the surface water sport into its low-cost housing projects in the two areas.

Yes, a high-end water sports facility inside Deca Homes Davao and Deca  Clark Resort and Residences which are both categorized as low-cost, or with house-and-lot packages priced not higher than P1.25 million each.

“We want to add value to our projects and, at the same time, differentiate them from the rest,” said Jesus Atencio, president and CEO of 8990 Holdings.

“It has become our mission to provide our market with the best value for their hard-earned money. Putting up high-quality homes at highly affordable prices, with unique perks such as wakeboarding, channel this corporate goal.”

8990 started its first project in Cebu only in 2002 and in a span of just over a decade, has emerged as the country’s largest low-cost housing developer with nearly 36,000 units built in 45 projects, valued at roughly P25 billion.

The company listed its shares at the Philippine Stock Exchange (PSE) last year and will soon sell more shares through a follow-on offering worth as much as P13 billion, using the proceeds to expand its land bank and develop more projects.

Atencio said one project in the pipeline is Deca Homes Pavia in Iloilo, an expansive 100-hectare property which, if things work out well, could this time host a world-class football field and stadium, noting the Ilonggos’ deep-rooted passion for the popular sport.

He added that in their other projects, residents are lobbying for either tennis or badminton courts, on top of  the ubiquitous basketball courts and swimming pools.

“We try to provide residents more amenities not only for their enjoyment but also to promote a healthy, active lifestyle,” Atencio pointed out.

This year, he expects their sales to grow by a third, or from the estimated P6 billion in 2013 to P8 billion.

In the first nine months last year,  8990’s earnings rose 64 percent to surpass the P2-billion mark as continued robust demand for low-cost housing boosted sales.

Aside from the Deca Homes brand, 8990 also operates the Urban Deca Homes brand for mid-rise condominium projects, Azalea Hotels and Residences for time-sharing, and the Deca Wakeboard Park.