Connect with us

Hi, what are you looking for?


Housing developer Ovialand sells equity to businessman JJ Atencio

By Denise A. Valdez, Senior Reporter

JANUARIUS Holdings, Inc., the holding company of businessman Januario Jesus Gregorio B. Atencio III, has taken a 13% stake in housing developer Ovialand, Inc. which seeks to expand its business nationwide over the next 10 years.

In a virtual media briefing Thursday, Mr. Atencio announced his agreement with Olivares family-owned Ovialand, which allows him to raise his stake in the company to up to 20% over the next three years. The deal value was not disclosed.

Ovialand seeks to expand its portfolio across the three major islands of Luzon, Visayas and Mindanao until 2030, by which time it targets an annual capacity of 8,000 to 10,000 units from 400 to 600 units at present.

“We’re expecting to open our first regional development in the area of Visayas around 2024-2025, on which we intend to start our township communities as well. We are also intending to venture into four-story mid-rise buildings in more congested areas of Metro Manila. The vision is to bring premier family living in a vertical space. That’s where we intend to go in the next 10 years,” Marie Leonore Fatima O. Vital, president of Ovialand, said.

After Mr. Atencio’s equity investment, Ms. Vital said Ovialand will “seriously consider” doing an initial public offering to support its expansion plans.

The company is expecting to finish 600 houses by the end of the year, and targets to do 1,000 houses by next year. It expects revenues to grow to P4 billion over the next three years to be supported by its 32-hectare land bank.

“Despite the pandemic, we are still looking forward to a 30% growth this year. We were able to deliver to our clients the new houses that we were looking forward to,” Ms. Vital said.

Ovialand’s existing projects are mostly located in Southern Luzon, such as in San Pablo, Laguna and Candelaria, Quezon. These are all horizontal house and lot projects priced between P2.2 million and P2.8 million.

“I think this scale is already sufficient, proof of concept that the business model works and everything that happens from thereon is just a continuation of the basic fundamental structure of the company… (It can do a public offering) any time after COVID,” Mr. Atencio said.

Ovialand is chaired by Giovanni J. Olivares, who has been in the real estate development business since 1991 focusing on socialized and low-cost housing. Ovialand was formed in 2015 to focus on the premier housing market.

Mr. Atencio was the president and chief executive officer of listed mass housing developer 8990 Holdings, Inc., from which he retired in 2017.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Get the daily email that makes reading the news actually enjoyable. Stay informed and entertained, for free.
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!



THE PHILIPPINES lags regional peers in terms of the share taken up by solar and wind energy in its power mix, energy think tank...


THE PHILIPPINE government tempered its economic growth target for this year, as rising inflation and ballooning debt threaten to hamper the economy’s recovery from...


By Keisha B. Ta-asan SOURED LOANS held by Philippine banks declined for a third straight month in May, bringing the nonperforming loan (NPL) ratio...


THE NATIONAL Government is hoping local government units (LGUs) will channel their expanded budgets into raising agricultural output, Finance Secretary Benjamin E. Diokno said....


THE MARCOS administration should immediately address power supply shortages and high electricity rates, which are affecting businesses in the country, the Philippine Chamber of...


MANILA Electric Co. (Meralco) has confirmed receipt of an order from the Energy Regulatory Commission (ERC) directing the country’s largest power distribution utility to...

You May Also Like


Having a good Instagram marketing agency to back up your Instagram account is an absolute must going into the new year. With competition stronger...


Ivermectin, an existing drug against parasites including head lice, has had a checkered history when it comes to treating COVID-19. The bulk of studies...


Insomnia is the most common sleep disorder in the global population. Therefore, it is a problem that many people suffer or have suffered throughout...


As a traditionally rigid insurance industry becomes bogged down by antiquated processes and operations, a handful of industry leaders are seeking to shake things...

Disclaimer:, 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 © 2021 SmartRetirementReport. All Rights Reserved.