8990 Holdings launches $22.4m township

Visual from 8990 company website

Philippines based real estate firm 8990 Holdings Inc has launched a 140-hectare township project, with an investment of over $22.4 million (P1-billion).

Dubbed Deca Homes Pavia Resort Residences (DHPRR), the project is located in Iloilo province and island of Panay in the Western Visayas region. It is near the Iloilo International Airport and downtown area.

The listed company will undertake the DHPRR project through its property developer division – 8990 Housing Development Corp.

Juanario Jesus Atencio, president and chief executive officer of 8990 Holdings, said DHPRR is meant “to address the housing backlog in Iloilo and at the same time contribute to the economic activity of the city.”

The township project involves the construction of 2,861 single-attached house and lot units with amenities including, a clubhouse, swimming pool, basketball courts, chapel and a commercial center.

Originally incorporated in 2005 as Converge Data Center Inc, an information technology and telecommunications services provider, 8990 Holdings changed its corporate name in 2013. The company is operating, through its subsidiaries, as a low-cost mass housing developer.

As of December 31, 2013, the Company had completed 16 mass housing projects comprising approximately 14,000 housing units under the DECA Homes and Urban DECA Homes brands.

The company’s 2014 net income was $51.4 million (P2.83 billion), a 35 per cent growth, higher year on year for a period spanning nine months (January to September).

The latest share price of 8990 Holdings is at P7.65 per share up by P0.030 (0.39 per cent) from yesterday’s P7.62 per share.

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.