Ovialand to invest P850M in project

OVIALAND, INC. has teamed up with Japan’s Kyushu Yaesu Co. Ltd. for the development of a residential project in San Pablo, Laguna.

In a statement, Ovialand said it will invest P850 million in Santevi, which will initially cover 10 hectares and offer 810 house-and-lot packages.

This is Ovialand’s second joint venture with Kyushu Yaesu, a wholly owned subsidiary of Saibu Gas Holdings Co. Ltd., after the Caliya project in Candelaria, Quezon.

“We are looking forward to expanding our market share in the South Luzon region given the potential for growth. According to the Bangko Sentral ng Pilipinas, South Luzon comprises 33% of the national GDP and holds 25% of the total housing demand in the country,” Pammy Olivares-Vital, Ovialand president, said in a statement.

Santevi is Ovialand’s third housing development project in San Pablo, after Sannera and Savana.

“Ovialand has seen sustained customer demand from its developments in San Pablo and as a result, we were encouraged to pursue the development of Santevi to reach more customers who are looking for a house that provides the best value for their money,” Ms. Vital said. — Cathy Rose A. Garcia