8990 Holdings Inc. is strengthening its operational foundations and adjusting its growth strategy following its exit from the Philippine Stock Exchange (PSE), balancing an expansion in provincial markets with selective diversification into higher-end developments.
The property developer completed a voluntary delisting from last October, a move expected to give management more flexibility in capital deployment and project execution without pressures of public market reporting.
As part of this post-delisting strategy, 8990 is expanding its presence outside Metro Manila by establishing permanent branches in key provincial locations, including Butuan, Panabo, and Digos.
The move is aimed at building long-term operational capacity rather than launching stand-alone projects.
“We’re investing in putting up a branch, not just a project,” President and CEO Anthony Vincent Sotto said last month.
He added that each branch would function as a full business unit with its own management team and personnel, following a reorganization completed last year.
Despite higher land prices in metropolitan areas, Sotto said demand for affordable housing remained strong, particularly in provincial markets where access to housing remained limited.
He also cited the company’s participation in the government’s Pambansang Pabahay para sa Pilipino (4PH) program as a key factor in sustaining demand, noting that subsidies can significantly reduce monthly amortizations for qualified buyers.
“Because of the subsidy, it becomes around 2,000 to 3,000 pesos,” he said, referring to monthly payments under the program.
Sotto clarified, however, that subsidies under 4PH were limited to the first 30,000 beneficiaries, prompting developers to move quickly in rolling out projects.
He also explained that educating buyers remained a challenge, as some mistakenly believe that the housing units are free.
“There’s nothing free. There’s just a subsidy being given so that you’re not demotivated,” Sotto said.
