Mass housing developer 8990 Holdings Inc. reported a six percent rise in net income to P7.65 billion in 2022, driven by the continued relaxation of restrictions and the reopening of the local economy.
The company’s revenue increased by six percent to P21.64 billion. Real estate sales contributed P21.41 billion to the revenues, representing a five percent year on year increase.
Thanks to the sustained easing of restrictions, 8990 has been able to complete 59 residential subdivisions, with approximately 48,518 units, and six medium-rise condominium projects, delivering a total of 7,336 units.
