HAUS TALK, Inc. expects revenues of P3.8 billion from a mixed-use property project in a 12-hectare land in Laguna that it targets to complete by the end of 2026.
“It’s a mix of townhouses, duplexes and single attached units. There will also be an area for commercial [purposes] that will serve the unit owners,” President Maria Rachel D. Madlambayan said in a text message on Monday.
She said the project is categorized under the government’s economic housing program with a price ceiling of P2.5 million for the basic unit.
“This will be different from our other projects because we will be using a new construction technology,” she said.
Haus Talk said land-banking remains a top priority to sustain its expansion plans for the next three to five years, it said in a press release last week.
The company bought the 12-hectare or 120,000-square-meter (sq.m.) property in Biñan, Laguna using internally generated funds, which it solely allotted for the development of the mixed economic and residential complex.
The proposed project will start initial work in September and will be launched before the year ends.
“We will be introducing green architecture and new construction technology for this project with partners that cannot be disclosed at this time just yet,” Ms. Madlambayan said.
It plans to allot 60% or 72,000 sq.m. to property buyers. Units in the project will have an average lot area of 50 sq.m., which will bring around 1,440 units.
The average selling price per unit is P2.5 million, translating to around P3.6 billion in revenues for the company.
Meanwhile, Haus Talk said in a press release that its board of directors approved an annual payout dividend ratio of at least 20% of its recurring net income for the preceding fiscal year.
“This will give investors additional income during favorable periods,” the company said.
In the first six months, the company’s net income rose to P85.21 million, more than five times last year’s P16.09 million, while its topline reached P385.72 million, more than four times last year’s P88. 77 million.
Haus Talk, a homegrown and family-run residential property provider, is the first firm to list on the small, medium and emerging board of the Philippine Stock Exchange this year.
On Friday, shares in Haus Talk climbed by 1.06% or P0.01 to 95 centavos apiece. — Justine Irish D. Tabile
For all the latest Business News Click Here
For the latest news and updates, follow us on Google News.
Denial of responsibility! NewsBit.us is an automatic aggregator around the global media. All the content are available free on Internet. We have just arranged it in one platform for educational purpose only. In each content, the hyperlink to the primary source is specified. All trademarks belong to their rightful owners, all materials to their authors. If you are the owner of the content and do not want us to publish your materials on our website, please contact us by email – [email protected]. The content will be deleted within 24 hours.
