Federal Land targets to double sales this year
Federal Land, the property arm of banking tycoon George S.K. Ty, is targeting to double its unit sales this year from 2,168 in 2011 in line with its sustainable growth program aimed at fully capitalizing on the group’s 40-year track record in real estate and high quality landbank.
Based on a filing with securities regulators, Fedland said it intends to focus on developing high quality residential properties in prime locations, while organically increasing the proportion of its recurring revenue through the continued development of integrated townships and leasing out of commercial facilities.
Last year, Fedland made reservation sales of 2,168 residential units with a total sales value of P9.1 billion, up 114 percent from 2010 figure.
As of Dec. 31, 2011, Fedland had 19 different ongoing residential projects at various stages of completion, with a total number of 7,473 units.
It had an available landbank of 100.7 hectares as of the same date, of which 97.3 hectares is owned while 3.4 hectares is its attributable interest under joint venture partnerships or property purchases.
The company expects its existing landbank will be sufficient for development over the next 20 years.
As part of its growth plan, Fedland, under the Horizon Land brand, will expand its coverage of the growing middle market which includes overseas Filipino workers, BPO workers, and small business owners.
To attract a wider clientele base and increase its recurring income, Fedland is stepping up the development of its current portfolio of master-planned communities that combine stand-alone high and mid-rise residential condominiums and mixed-use developments. Among these projects include the Six Senses Resort in Metropolitan Park in the Bay Area, Bonifacio North CBD in Bonifacio Global City, Tropicana Gardens City in Marikina, Peninsula Garden Midtown Homes in Manila and Florida Sun Estates in Cavite.
The company also intends to focus on developing BPO office facilities within its townships.