Property sales remain brisk, says Landco

By Doris Dumlao
Philippine Daily Inquirer


UPSCALE PROPERTY ASSETS, especially in Visayas and Mindanao, are selling briskly despite the slower domestic economic growth triggered by the US-led global downturn, leisure estate developer Landco Pacific Corp. reported.

Landco said on Friday that sales of its prime property developments in the first half of the year reached P1.95 billion, beating the company’s target by 11 percent. This was attributed to the strong sales of its real estate projects outside Luzon.

Sales in Visayas and Mindanao hit P497 million, 35 percent higher than the company’s target, due to the strong performance of Landco’s leisure, urban and hometown developments.

Its leisure developments contributed P427 million in sales, while memorial parks added P287 million, exceeding their combined target of P561 million by 27 percent.

“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. It is also an investment that can be used, experienced and enjoyed, ” Landco president Alfred Xerez-Burgos III said in a statement.

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 Biñan, Laguna.

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