From: BizNews Asia Posted Aug 31-Sept 7, 2015 GROWTH DRIVERS 8990’s growth factors for 2015
In 2014, the company noted;
These are still in play, and a new factor the new 6.5% housing loan interest rate of HDMF to growth this year.
BETTING ON ‘HOUSE’ (8990) What’s in store for 2015
8990 is also going into the high-end leisure business, with resort hotels in Baguio, Boracay, and the other major tourist destinations.
From : ABS-CBNnews.com
Posted at 05/01/2014 5:20 PM | Updated as of 05/01/2014 5:20 PM
MANILA, Philippines – International investment company TPG Capital is buying a P2.9 billion stake in Philippine low-cost housing company 8990 Holdings.
TPG Capital had previous holdings in big names like Del Monte Foods and Tiger Airways, and current holdings in Neiman Marcus and China Grand Automotive.
It has diversified investments ranging from food to telecoms to pharmaceuticals.
“We are thrilled to participate with 8990, the largest home builder in the Philippines, as they address an important need in the country with very attractive and affordable housing,” Tim Dattels, managing partner of TPG Asia, said.
TPG’s buy-in matches that of Malaysia’s state-owned investment company Khazanah Nasional Berhad. They are both investing roughly 9 percent of 8990’s current market capitalization.
This is the first Philippine investment for both companies, part of P9 billion in fresh funds 8990 raised through a follow-on share sale at P6.50 per share.
The company’s share price closed at P6.85 in Wednesday’s trade.
8990 is a mass housing developer focused on the low-end of the real estate market. Its main brand is Deca Homes-ANC
EXPRESS HOMES- 8990 Holdings’ mortgage payment rules look like they’re part of a behavioral economics experiment. They work.
“EIGHT is infinity, NINE is luck, and ZERO is prosperity. May you have an infinite round of good luck and prosperity.
– Januario Jesus Atencio, 8990 Holdings Company President and CEO.