Upscale property developer Landco Pacific Corporation (Landco) will pour PhP1 billion in new and expansion projects this year anticipating an increase in net income with the launch of new projects.
Landco president and CEO Alfred Xerez-Burgos III said earlier this year the company has already launched its fifth tower in Tribeca Private Residences called Hudson Place located in Sucat, Muntinlupa. Landco will also be launching Aquaria, a condotel at Playa Calatagan in Calatagan, Batangas, an expansion in Ponderosa Leisure Farms called Ponderosa Gardens in Silang, Cavite and a new house-and-lot project at Waterwood Park in Baliuag, Bulacan.
He said Landco had a good start in 2011. “We’ve enjoyed robust sales in the first quarter. If we can sustain this momentum, we are set to surpass last year’s profits.”
Landco’s sales in the first quarter of 2011 reached PhP586 million, PhP90 million more or 18% higher than last year’s PhP496 million.
Last year, Landco posted PhP128 million in net income from PhP258 million in 2009. “The decrease in net income was a result of depleting inventory as we deliberately did not launch new projects in 2009 and 2010 so we could focus on finishing projects that we launched in 2007 and 2008,” Xerez-Burgos said.
Landco Pacific Corporation is the developer of high-end leisure, urban, and hometown communities. For 21 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 you live…Life at your leisure. For more information, call 836-5000, email customerrelations@landco.ph or visit www.landco.ph
