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Manila Bulletin devider Business devider Ovialand taps China Bank Capital as expansion adviser

Ovialand taps China Bank Capital as expansion adviser

Published May 14, 2021 01:00 am

Real estate developer Ovialand, Inc. (OLI), an emerging player in the premium affordable market, has tapped China Bank Capital Corporation as Financial Advisor to assist the company to embark on a dynamic growth strategy.

In a statement, OLI President Pammy Vital said the company is committed to bringing its unique Premier Family Living expertise to more cities in Southern Luzon and eventually to the whole Philippines.

“There is strong demand for our housing lifestyle product, so we are aiming to scale up our capacity to 3,000 houses per year by 2025 and eventually 5,000 houses per year by 2030,” she said.

Vital added that, “We are excited to work with China Bank Capital to help us realize our growth plans. They’re the right choice for us on the back of our fruitful relationship with their mother bank for the past 5 years and also because they fully share our vision for Ovialand.”

China Bank Capital President Ryan Martin Tapia said that the company is honored to have been tapped by Ovialand for its assistance in achieving the latter’s goal become one of the fastest-growing property developers in the country.

“We see a huge opportunity in the housing backlog in the country, and we think the company’s unique premium affordable offering is well-positioned to cater to a growing market of young families looking for quality homes. China Bank Capital is here to make sure Ovialand has the advice it needs to reach its full potential,” he noted.

Last November, real estate veteran JJ Atencio announced his return to the mass-housing industry as a private equity investor and Director in Ovialand amidst the global pandemic.

Since then, Atencio has played an active role in advising and mentoring OLI Management.

“This significant milestone for Ovialand is paving the way for many opportunities. It is an honor to have been accepted as a client by one of the best capital advisory firms in the country,” he said. 

The real-estate industry was spared from the painful blows of the Covid-19 pandemic, particularly the horizontal segment, attributed to many Filipinos realizing the value of homeownership during a very unusual time. 

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