Connect with us

Hi, what are you looking for?


Ovialand gets P600-M loan facility

MASS HOUSING developer Ovialand, Inc. has secured a P600-million loan facility from Security Bank Corp. for its expansion plans.

Ovialand said in a press release on Tuesday that SB Capital Investment Corp. solely arranged the issuance of the loan facility that was fully taken up by its parent.

“We are pleased to partner with SB Capital and Security Bank as we attempt to achieve new milestones in our history,” Ovialand President and Chief Executive Officer Marie Leonore Fatima Olivares-Vital said in a statement.

“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,” she added.

Ovialand said they intend to use the funds in pursuing its expansion plans which include developing new horizontal projects and in increasing the size of its landbank.

“We are greatly appreciative of the trust provided to us by Ovialand in arranging this facility that will be crucial to their growth,” SB Capital President Virgilio O. Chua said.

“We believe that this transaction will ripple into bigger and better capital raising exercises and we are excited to partner with Ovialand in such efforts,” he added.

Meanwhile, Ovialand said in a separate press release that it was awarded as one of “Asia’s Leading SMEs” in the Enterprise Category by The Asia Corporate Excellence & Sustainability Awards last month.

The company offers premium affordable housing in South Luzon and has recently launched its third project in Laguna called Santevi.

The Santevi project is expected to expand the company’s portfolio in Laguna to more than 2,100 units.

Ovialand said it is eyeing P2.3 billion from the sale of 707 house-and-lot units and it will meet its year-end projection of P1.2 billion in revenues.

“As we head towards the end of 2022, we reflect on the success we have achieved while looking forward to what we can do in the years to come,” Ms. Olivares-Vital said. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



Egg vendors arrange their products for sale at a store along Blumentritt in Manila, Jan. 26. Filipinos are grappling with soaring prices of food,...


ICC prosecutor authorized to reopen Philippines drug war investigation – BusinessWorld Online ...


Photo via freepik The past years saw climate change, defined by World Health Organization (WHO) as “the change in climate in time due to...


At Christmastime, monster waves and winds battered the 23-year-old Tubbataha Ranger Station. (Inset photo) Metro Pacific Investments Foundation, Inc. committed to provide an additional...

News The Department of Transportation (DoTr) has one of the most illustrious histories of public service, having been founded under the Malolos Constitution on...


The ongoing LRT-1 Cavite Extension project, which is expected to reduce travel from Baclaran to Bacoor, Cavite from one hour to 25 minutes Transport...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.