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Philippines' 8990 Holdings unveils net income, revenue targets for FY'19

Filipino developer 8990 Holdings Inc. is aiming to reach a net income of 5.2 billion pesos and revenue of 13.5 billion pesos for full-year 2019.

The company disclosed its goal after recently recording revenue of 11.5 billion pesos for 2018.

It anticipates more than half of the targeted revenue will come from projects in Luzon, particularly in its Urban Deca Homes Manila development in Tondo, Manila. The 13-tower residential project in the city occupies an 8.4-hectare site and offers more than 13,000 units with an estimated sales value of 20 billion pesos.

As of Jan. 7, US$1 was equivalent to 52.44 Philippine pesos.