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8990 Holdings expects Manila project to contribute 40% of 2018 target revenue

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8990 Holdings expects Manila project to contribute 40% of 2018 target revenue

Filipino developer 8990 Holdings Inc. is forecasting its Urban Deca Homes Manila development project in Tondo, Manila, will contribute about 4.4 billion Philippine pesos to its revenue target for 2018.

The company said that corresponds to 40% of the 11.5 billion peso revenue it is eyeing to hit by Dec. 31.

Urban Deca Homes is the company's largest development to date. It will sit on an 8.4-hectare site and will house 13,000 units across 13 buildings upon its 2020 completion. The project has a total estimated development value of 8 billion pesos.

As of June 13, US$1 was equivalent to 53.22 Philippine pesos.