LPHI seeks further growth by offering new product line

From affordable housing projects mostly in Southern Luzon, mid-income property giant Laguna Properties Holdings Inc. (LPHI) is moving into new territory. It is bullish that by applying its formula of offering value-for-money and an assurance of high quality, it will duplicate its track record outside the metropolis right in Metro Manila. LPHI which registered net revenues of P2.04 billion in 2003 is now the leading provider of affordable house-and-lot units in the country.

LPHI president Manuel J. Colayco explains: "We will seek growth by offering affordable units in mid-rise residential buildings in Metro Manila. We intend to redefine condominium living as most Filipinos know it today."

The company plans to offer units in mid-rise residential buildings in convenient locations with price tags of around P1 million and fill a sizable gap in the market. It will distinguish itself from other players in the same segment by drawing from its expertise in planning, property management and a tradition of quality across its spectrum of product lines.

Colayco notes that just as LPHI built its name by offering homes that are built to last in communities with 24-hour water, security and village management, it will make inroads in Metro Manila by offering the same benefits. "We want our customers to remain satisfied long after they have moved into their units," he says.

LPHI believes satisfaction will come from units that are laid out for efficiency and have good ventilation and residential complexes with amenities that will continue to work long after the last unit has been sold. Vandalized elevators, inconsistent water supply, loose security and poorly maintained common area facilities are among the many inconveniences that unit owners in many mid-priced residential condominium complexes in Manila must endure today. "LPHI will deal with these pitfalls by making provisions for sustained property management as well as offering training to homeowners," says Colayco.

Colayco stresses that its mid-rise buildings will also offer location as a major attraction. "We realize that many Metro Manilans don’t want to live away from the conveniences and attractions of the city. They want to live close to where they work and where their kids go to school. On weekends, they want to be just a short drive away from the mall and other entertainment centers," he says.

He explains that innovation and technology will make it possible for LPHI to meet the P1 million and below price ceiling for a vast majority of Metro Manila income earners. Just as LPHI standardized single-detached homes and controlled costs through the use of pre-cast parts that can then be quickly assembled onsite, it intends to use the same technology to make homes in mid-rise buildings affordable to many.

The company’s first venture in residential condominiums is One Aeropolis in Sucat, Paranaque, where a 20-sqm studio flat that sells for less than P1 million, comes with high ceilings, panoramic windows, landscaped atrium gardens and other amenities. One Aeropolis’ warm market reception prompted a second project, another an oasis-themed mid-rise condominium in Santolan, Quezon City, located on a 1.2 hectare property along Boni Serrano Street. Units will be priced similarly.

From housing projects located mostly in Laguna and Batangas and with strong appeal to families of overseas Filipino workers, LPHI has expanded to 10 other locations in Luzon and the Visayas. From affordable house-and-lot units, it has also expanded its product lines to include higher-end homes for upwardly mobile executives and entrepreneurs as well as vacation homes and farm lots in idyllic locations.