PRO-FRIENDS Group Inc., holding company of real-estate developer Property Company of Friends Inc. (Pro-Friends), will be launching new house models for its flagship project in Cavite that is seen to aid the company’s growth.
“We always talk about having a deep understanding of our home buyers that is why we engage in heavy research to learn about their changing needs. As a result of this, we again introduced new house models after the last batch three years ago,” shared Pro-Friends Group Chairman and CEO Guillermo Choa, referring to its Lancaster New City project. Prices for the new house models for the said project ranges from P1 million to P3 million.
“Response was very encouraging as we saw more than 250 reservations on the day the new models were unveiled,” Choa said.
For the lower economic housing segment, Pro-Friends subsidiary Micara Land Inc. launched its first housing project in Tanza, Cavite, with house-and-lot packages offered between P600,000 to P800,000.
“There are more launches in the offing and we expect these, together with the recent ones, to complement the growth trajectory that we have been experiencing and set for ourselves to sustain in the coming years,” Choa revealed.
Pro-Friends Group reported a net income of P1.9 billion for the first six months of the year, representing a 28-percent increase over the same period in 2013.
Having completed its retooling efforts in 2013 to meet growing demand, its gross margin, which averaged 53.11 percent over the past three years, is now at an improved level of 55.27 percent for the first half of 2014.
Pro-Friends Group currently has a land bank of over 1,800 hectares, mostly outside Metro Manila, which makes the land more affordable to potential buyers, Choa said.
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