Not long after cashing in his valuable stake in top mass housing developer 8990 Holdings, businessman Januario Jesus Atencio is returning to the real estate business through an investment equivalent to 13 to 20 percent of Ovialand Inc.
In a media briefing, Atencio said his Januarius Holdings has partnered with the Laguna-based property developer OLI which is expecting P4 billion in revenues between 2020 and 2023 from a current land bank of 32 hectares.
Its projects are concentrated in Southern Luzon such as Sannera and Savana in San Pablo, Laguna as well as Cailya in Candelaria, Quezon.
Ovialand President Marie Leonore Fatima Olivares-Vital said the entry of Atencio was a welcome surprise.
“It was during a housing convention that I asked JJ if he was open to a joint venture partnership in one of our projects. I did not expect him to be interested, but he told me to prepare a proposal. Two meetings later, he said let’s do this and what happened next would change the course of our company forever,” Vital said.
She added Ovialand and Januarius Holdings shared the same beliefs and values about the housing sector.
“We believed in quality developments and giving added-value to the communities we build. One of the things that really surprised me is when JJ shared that he is open to be contacted by their clients anytime because he wants to know about their concerns. This really surprised me and at that moment, I knew that we shared the same idea when it comes to building quality developments,” Vital said.
Aside from a financial investment, Atencio mentors Vital into a deeper understanding of the real-estate business in the Philippines.
“I have 15 years of very active real-estate experience with me. My dad, Jing Olivares, is a real-estate veteran himself. In fact, he and JJ worked closely together in several real-estate housing committees and are good friends themselves. But my father encouraged me to grow and learn more so that we can grow our business into greater heights,” Vital added.
For his part, Atencio said he never left the world that catapulted him into success as he now spends most of his time pursuing other passions outside real estate.
“I never stopped being involved in real-estate. Aside from pursuing my own pocket developments, I opened my doors to developers who seek mentoring and advisory about the business,” Atencio added.
Atencio said Ovialand did not need hand holding when it comes to operations as the owners have a solid real-estate foundation. “There was a talented team behind Pammy’s strong leadership,” Atencio said.
Both companies exchanged ideas during the first wave of the lockdowns as Luzon was placed under enhanced community quarantine to prevent further spread of the deadly novel coronavirus disease 2019 or COVID-19 pandemic.
“Pammy shared with me how Ovialand was able to sell housing units even during the enhanced community quarantine. When construction was permitted to resume, the team was so quick to adapt and get moving. It was a combination of work from home options, regular Covid19 screening for employees and very close coordination with clients, suppliers and of course, Pag-Ibig Fund,” Atencio said. While many businesses held back and adapted a wait and see attitude during the pandemic, both Januarius Holdings and Ovialand are confident the Philippine economy would bounce back in proportion to the willingness of private companies to be bold.