Ovialand Inc. has secured a P600 million loan facility from bilyonaryo Frederick Dy-led Security Bank.
Company president and CEO Pammy Olivares-Vital said the fresh financing package would allow Oviland to be more aggressive in growing its business by developing new horizontal residential projects in existing and new markets in the country and by increasing the size of its land bank.
“ Ovialand is enjoying a stellar performance in 2022 despite current economic headwinds, and this financing package from Security Bank will enable the company to be more aggressive in realizing its growth potential,” said Vital.
SB Capital president, Virgilio O. Chua said bigger things are in store for Ovialand.
Ovialand is one of the leading residential developers in the premium affordable housing market in South Luzon through its expansive portfolio in Batangas, Laguna, and Quezon.
The company recently launched the sale of its developments in Santevi, its third project in Laguna.
With the launch of Santevi, the company has grown its portfolio in the province to more than 2,100 units.