Landco posts PhP1.8 -B in consolidated Q3 sales; up 31% from 2010
UPSCALE LEISURE DEVELOPER LANDCO PACIFIC CORP. (LANDCO) reported sales in the third quarter of 2011 at PhP 1.833 billion in consolidated global booked sales. This is up by 31% or PhP 432 million compared to sales in the same period during the previous year. The bulk of this growth came from Landco’s Urban and Mindanao Communities that posted PhP 760 million in sales. Sales of Hometown Communities totaled PhP 565 million while Leisure Communities recorded sales at PhP 508 million.
Urban Community Tribeca Private Residences in Muntinlupa City posted the highest growth—from PhP 167 million to PhP 586 million, mainly due to uptake from new inventory from Tower 5. Tribeca’s sales earnings were also the highest for this segment.
In the Leisure Communities segment, Playa Laiya Residential posted the highest growth at PhP 297 million from PhP226 million in the same period last year.
The biggest growth in the Hometown Communities segment came from WoodGrove and the Courtyard & Lakewood. Sales at WoodGrove went up to PhP 248 million compared to PhP 152 million in the same period last year. The Courtyard & Lakewood posted sales of PhP 137 million, which is up from PhP 78 million in the same period last year.
President and CEO Alfred Xerez-Burgos III said Landco’s performance in the third quarter of 2011 is consistent with expectations and makes him even more confident about the company’s year-end results.
Xerez-Burgos said, “The brisk sales up to the third quarter of 2011 appears to be sustainable and we expect the trend to continue through the fourth quarter.”
Landco Pacific Corporation is the developer of high-end leisure, urban, and hometown communities. For 21 years, the company has made its mark in Philippine real estate, and is widely acknowledged to be the leader in leisure development. As the purveyor of resort living experiences, Landco is committed to consistently create innovative and outstanding lifestyle products that revolutionize the way you live…Life at your leisure. For more information, call 836-5000, email firstname.lastname@example.org or visit www.landco.ph