Luxury leisure property developer Landco Pacific Corporation reported a 17 percent hike in nationwide sales from three of its main property segments to P3.09 billion last year from the P2.65 billion posted in 2011.
In a statement, the firm said sales were driven by revenues from the Urban and Visayas-Mindanao Communities, which reached P1.63 billion, Hometown Communities which generated P760 million, and Leisure Communities that made P703 million.
“The demand for upscale properties is robust as seen in the increased patronage of our projects nationwide,” said Landco chief executive Alfred Xerez-Burgos III who added that “we see this trend continuing this year as signs of favorable economic activity remain visible.”
The firm has earmarked approximately P1 billion in capital expenditures to better serve the growing marketing demand this year.
Landco’s Tribeca Private Residences in Sucat, Muntinlupa City remained its most sought-after development posting P1.01 billion while Playa Azalea in Samal, Davao del Norte finished second by earning P373 million.
Soon to be launched is Nautilus, the first tower of its upcoming seaside condominium development called Playa Calatagan Residences. A total of three buildings are set to rise in Playa Calatagan Residences.
Nautilus and its beach resort amenity, Aquaria, are set to boost leisure tourism in Calatagan, Batangas, attracting local and foreign tourists alike. “Envisioned to be just a few steps away from the beach, there is nothing like it yet available in the market today,” said Xerez-Burgos.
Meanwhile, construction of the fifth tower of resort-inspired condominium Tribeca Private Residences located in Sucat, Muntinlupa is in full swing.
“We look forward to a continuing robust economy in 2013 fuelled by an increase in public and private infrastructure spending, continuous increase in OFW remittances, growth in the BPO and tourism industries as well as the possibility of achieving investment grade — all happening in an election year,” Xerezz-Burgos said.