Camella Homes sets aside P5B for projects in '07

Low-cost housing builder Camella Homes & Communities on Thursday said it is allotting P5 billion for its home construction and land development projects this year, its 30th anniversary. In a statement, Camella Homes president Maribeth Tolentino said that the company will launch new developments in eight cities and provinces, namely Quezon City, Makati City, Las Piñas City, Parañaque City, San Fernando in Pampanga, General Santos City, Laoag City, and Naga City. “All in all, we are opening 26 new projects all over the country this year to add to our present portfolio," Tolentino said. Tolentino said that Camella’s initiatives seek to enhance its market dominance of the affordable housing sector, which serves the greatest number of the population, including overseas Filipinos workers. Tolentino said the company is the country’s single-largest homebuilder, having built homes for more than 150,000 Filipino families to date. The firm’s 27 existing developments are cumulatively valued at P10 billion. “We are glad that as we celebrate this milestone, Camella is the country’s largest homebuilder, in terms of sales, aggregate value of developments, number of projects by a single brand, and geographic coverage or reach," she said. The firm’s sister companies include CrownAsia, the country’s largest builder of middle income homes, and Brittany Corporation, a property developer which builds for the high-end market segment.-GMANews.TV