In a statement, the company said net income hit P495 million in the nine months to September while revenues grew by 30 percent to P1.44 billion, driven by sustained demand for housing in areas outside Metro Manila.
The company turned over 469 house-and-lot units during the period, up from 395 units a year ago.
Ovialand attributes its strong financial performance to strategic initiatives and a customer-first approach.
“Given global and local economic sentiments remain quite flat, we walked into 2024 battle-ready to continue providing value to our homebuyers. This is why we rallied our teams and ensured we made sound business decisions that put homebuyers at the center of everything we do,” said Pammy Olivares-Vital, president and CEO of Ovialand.
“Our financial results for the first nine months of 2024 reflect the success of our initiatives.”
In the third quarter, Ovialand launched its first project in Bulacan, Seriya, which has been well-received by the market. The development emphasizes quick delivery times of three to six months from reservation, supported by the company’s "HousEasy" initiative that ensures a seamless home-buying experience.
Additionally, Ovialand continued its growth in Laguna through joint ventures with Tokyo-based Takara Leben Co. Ltd., unveiling projects like Savana South and Sentro. The first homes in Savana South are scheduled for turnover by December, allowing families to move in before the holidays.
“Our financial results indicate a long-term trend of sustained demand for properties located in key areas outside, but still accessible, from Metro Manila. As such, we continue to look at growth opportunities in other regions as we focus on the most important metric in our company: Happy families moving into their brand-new homes,” Olivares-Vital said.
